Important Points to Know about National Housing Bank

    Important Points to Know about National Housing Bank
    Important Points to Know about National Housing Bank:
    Important points that we have to know about National Housing Bank was given here, which will be more helpful for the candidates those who are preparing for the upcoming exams.

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    National Housing Bank:

    1).National Housing Bank (NHB) is an apex financial institution for housing and wholly owned subsidiary ofReserve Bank of India (RBI)

    2). It was established on9th July 1988under theNational Housing Bank Act, 1987

    3).High Level Group under the Championship ofDr. C. Rangarajan, the then Deputy Governor of RBI, recommended the setting up of the National Housing Bank as an autonomous housing finance institution

    4). TheNational Housing Bank Bill (91 of 1987)provided the legislative framework for the establishment of NHB was passed in the Parliament

    5). NHB was established to achieve the followingobjectives
    ·        To make housing credit more affordable
    ·        To augment resources for the sector and channelize them for housing
    ·        To promote a network of dedicated housing finance institutions to adequately serve various regions and income groups
    ·        To provide an effective housing finance system to all segments of the population
    ·        To integrate the housing finance system with the overall financial system
    ·        To regulate the activities of housing finance companies based on regulatory and supervisory authority derived under the Act
    ·        To encourage public agencies to emerge as facilitators and suppliers of serviced land for housing
    ·        To encourage augmentation of supply of buildable land and building materials
    ·        To upgrade the housing stock in the country

    6).The following are theBoard of Directors of NHB
    ·        Sriram Kalyanaraman – Managing Director& Chief Executive Officer
    ·        Dr. Urjit R. Patel – Deputy Governor of RBI
    ·        G. M. Rao – Director,Central Board of Directors, RBI
    ·        Alok Tandon – IAS, Joint Secretary to the Government of India,Ministry of Finance
    ·        Vijaya Srivastava – IAS, Joint Secretary to the Government,Ministry of Rural Development
    ·        Sanjeev Kumar – IAS, Joint Secretary (RAY) to Government of India and Mission Dirtector (JNNURM),Ministry of Housing and Urban Poverty Alleviation

    7).Vision of NHB – Promoting inclusive expansion with stability in housing finance market
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