BANKING AFFAIRS

Detailed explanation-1: -National Housing Bank (NHB), is the apex regulatory body for overall regulation and licensing of housing finance companies in India. It is under the jurisdiction of Ministry of Finance, Government of India. It was set up on 9 July 1988 under the National Housing Bank Act, 1987.

Detailed explanation-2: -NHB is an apex financial institution for housing. The broad functions of NHB as a part of its objective of building a strong, healthy, cost-effective, and viable Housing Finance System include: (i) Supervision and grievance redressal regarding Housing Finance Companies (HFCs). (iii) Promotion and Development.

Detailed explanation-3: -The NHB had been set up as an apex institution to regulate housing finance in 1988.

Detailed explanation-4: -What is the role of NHB? NHB regulates the housing finance system of the country, extends refinance to different primary lenders and lends directly in respect of projects undertaken by public housing agencies for housing construction and development of housing related infrastructure.

Detailed explanation-5: -The full form of NHB is the National Housing Bank. NHB is an agency owned by the Indian Government and was established under the National Housing Bank Act, 1987, on 9 July 1988. The main major bank for housing is the NHB.