Question
Consider the following statements about the National
Housing Bank? I. NHB was established under the National Housing Bank Act, 1987. II. NHB is involved in the promotion of housing finance institutions at local levels. III. NHB was previously an integral part of the Reserve Bank of India. Which of the following statements is/are incorrect?Solution
NHB is the agency that is involved in the promotion of housing finance institutions at both the regional and local levels. National Housing Bank was previously an integral part of the RBI until the Government of India purchased it in 2019 1,450 Crores. The secondary function of the NHB is to provide financial and other assistance to such institutions. NHB is an agency owned by the Indian Government and was established under the National Housing Bank Act, 1987, on 9 July 1988
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