Question

    Consider the following statements regarding the National

    Housing Bank: 1. It is a refinancing agency and provides financial and other supports to the housing finance institutions. 2. It also regulates the housing finance companies. 3. It is a fully government-owned agency. Which of the above statements is/are correct?
    A 1 only Correct Answer Incorrect Answer
    B 1 and 3 only Correct Answer Incorrect Answer
    C 3 only Correct Answer Incorrect Answer
    D 1 and 2 only Correct Answer Incorrect Answer
    E 2 only Correct Answer Incorrect Answer

    Solution

    Statement 1 is correct: The National Housing bank operates as a principal agency to promote housing fi nance institutions. Statement 2 is incorrect: The government has taken away the powers of the National Housing Bank to regulate housing fi nance companies and handed them to the Reserve Bank of India. Statement 3 is correct: It is a fully government-owned agency now since it is owned by RBI. National Housing bank operates as a principal agency to promote housing fi nance institutions both at local and regional levels and to provide financial and other support to such institutions.

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