GENERAL KNOWLEDGE

Detailed explanation-1: -In pursuance of the above, NHB was set up on July 9, 1988 under the National Housing Bank Act, 1987. Reserve Bank of India contributed the entire paid-up capital.

Detailed explanation-2: -Detailed Solution. The National Housing Bank was established in July 1988 as a subsidiary of the Reserve Bank. It is the apex institution for housing finance.

Detailed explanation-3: -National Housing Bank is a statutory organization set up on July 9, 1988 under the National Housing Bank Act, 1987.

Detailed explanation-4: -An Act to establish a bank to be known as the National Housing Bank to operate as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support to such institutions and for matters connected therewith or incidental thereto.