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As on June 30, NHB has 152 officers at different levels. NHB is committed to pursuit of
excellence through innovation, dedicated workforce, and contemporary work practices with
technology intervention.
2.2 Governance Structure
The essence of Corporate Governance lies in promoting and maintaining integrity,
transparency, and accountability in the Management’s highest levels. Corporate Governance
encompasses a set of systems and best practices to ensure that the affairs of the organization
are being managed in a manner which ensures compliance with the laws and adherence to the
highest standards of transparency and business ethics. NHB would continue to strengthen its
principles of fairness and accountability to generate long term value for its stakeholders on
continuous and sustainable basis.
2.2.1 Composition of the Board
General superintendence, direction, and management of the affairs of the business of the NHB
are vested in the Board of Directors, which acts on business principles with due regard to
public interest. The Board of Directors has been constituted in accordance with the provisions
of the National Housing Bank Act, 1987. The Board is chaired by Shri Sarada Kumar Hota
who has assumed the charge as Managing Director (MD) of National Housing Bank (NHB),
with effect from June 27, 2019.
The following changes took place in the composition of the Board of Directors of NHB during
the year 2020-21 (July to June):
• Shri Lalit Kumar Chandel, Economic Advisor, Department of Financial Services was
appointed by GOI as Director on Board of NHB, with effect from December 08, 2020,
in place of Shri Anand Madhukar, Officer on Special Duty (JS Level), Department of
Financial Services, Ministry of Finance.
• Shri Gaya Prasad, Deputy Director General (Rural Housing), JS level, Ministry of
Rural Development, was appointed by GOI as Director on Board of NHB, with effect
from December 29, 2020, in place of Shri Prasant Kumar, former Special Secretary
to the Government of India, Department of Rural Development, Ministry of Rural
Development.
• Shri Satish K. Marathe, Central Board Director of the Reserve Bank of India was
nominated by RBI as Director on Board of NHB, with effect from April 08, 2021, in place
of Dr. P K Mohanty, former Central Board Director of the Reserve Bank of India.
204 | Annual Report 2020-21
excellence through innovation, dedicated workforce, and contemporary work practices with
technology intervention.
2.2 Governance Structure
The essence of Corporate Governance lies in promoting and maintaining integrity,
transparency, and accountability in the Management’s highest levels. Corporate Governance
encompasses a set of systems and best practices to ensure that the affairs of the organization
are being managed in a manner which ensures compliance with the laws and adherence to the
highest standards of transparency and business ethics. NHB would continue to strengthen its
principles of fairness and accountability to generate long term value for its stakeholders on
continuous and sustainable basis.
2.2.1 Composition of the Board
General superintendence, direction, and management of the affairs of the business of the NHB
are vested in the Board of Directors, which acts on business principles with due regard to
public interest. The Board of Directors has been constituted in accordance with the provisions
of the National Housing Bank Act, 1987. The Board is chaired by Shri Sarada Kumar Hota
who has assumed the charge as Managing Director (MD) of National Housing Bank (NHB),
with effect from June 27, 2019.
The following changes took place in the composition of the Board of Directors of NHB during
the year 2020-21 (July to June):
• Shri Lalit Kumar Chandel, Economic Advisor, Department of Financial Services was
appointed by GOI as Director on Board of NHB, with effect from December 08, 2020,
in place of Shri Anand Madhukar, Officer on Special Duty (JS Level), Department of
Financial Services, Ministry of Finance.
• Shri Gaya Prasad, Deputy Director General (Rural Housing), JS level, Ministry of
Rural Development, was appointed by GOI as Director on Board of NHB, with effect
from December 29, 2020, in place of Shri Prasant Kumar, former Special Secretary
to the Government of India, Department of Rural Development, Ministry of Rural
Development.
• Shri Satish K. Marathe, Central Board Director of the Reserve Bank of India was
nominated by RBI as Director on Board of NHB, with effect from April 08, 2021, in place
of Dr. P K Mohanty, former Central Board Director of the Reserve Bank of India.
204 | Annual Report 2020-21
