BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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National Housing Bank Act, 1987
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National Housing Bank Act, 1988
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National Housing Bank Act, 1986
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National Housing Bank Act, 1985
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Detailed explanation-1: -Is NHB a Government owned Bank or a private Bank? National Housing Bank is a statutory organization set up on July 9, 1988 under the National Housing Bank Act, 1987. NHB is wholly owned by Reserve Bank of India, which contributed the entire paid-up capital.
Detailed explanation-2: -National Housing Bank (NHB) was set up by an Act of Parliament in 1987. NHB is an apex financial institution for housing.
Detailed explanation-3: -The National Housing Policy, 1988 envisaged the setting up of NHB as the Apex level institution for housing. In pursuance of the above, NHB was set up on July 9, 1988 under the National Housing Bank Act, 1987.
Detailed explanation-4: -The National Housing Bank was set up in India as a wholly-owned subsidiary of Reserve Bank of India(RBI).