CURRENT AFFAIRS

Detailed explanation-1: -10, 000 crore to National Housing Bank (NHB). Accordingly, NHB has launched Special Refinance Facility - 2021 (SRF-2021) scheme. The objective of the scheme is to provide short term refinance support to HFCs and other eligible PLIs to meet their liquidity requirement.

Detailed explanation-2: -The National Housing Bank (NHB) offers refinance assistance to Primary Lending. Institutions (PLIs) in respect of their housing loans to individuals, and also for their loans to other institutions for housing finance and construction finance for affordable housing.

Detailed explanation-3: -The Reserve Bank of India (RBI), therefore, proposed to take over the regulation of Housing Finance Companies (HFCs) by amending the National Banking Act from the National Housing Bank (NHB). The NHB had been set up as an apex institution to regulate housing finance in 1988.

Detailed explanation-4: -Small Industries Development Bank of India (SIDBI), NABARD (National Bank for Agriculture and Rural Development), EXIM Bank (Export-Import Bank) and. NHB (National Housing Bank)

Detailed explanation-5: -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.