The National Housing Bank (NHB) was established on 9th July
1988 under an Act of the Parliament viz. the National Housing
Bank Act, 1987 to function as a principal agency to promote
Housing Finance Institutions and to provide financial and
other support to such institutions. The Act, inter alia,
empowers NHB to:
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Issue directions to housing finance institutions
to ensure their growth on sound lines |
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Make loans and advances and render any
other form of financial assistance to scheduled banks
and housing finance institutions or to any authority
established by or under any Central, State or Provincial
Act and engaged in slum improvement and |
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Formulate schemes for the purpose of mobilisation
of resources and extension of credit for housing |