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4) Supervisory Committee of the Board
A Supervisory Committee of the Board (SCoB) was constituted by the Bank in 2016 to
advise and guide NHB in matters concerning Supervision. The committee is responsible
for overseeing the supervisory effectiveness of the Bank as well as to get a broad overview
of the general health of the Housing Finance Companies (HFCs).
5) Nodal Officers
For ensuring an effective Supervisory mechanism, the Bank has introduced a
decentralized structure of Supervision wherein Officers at the level of Regional Office
(RO)/Regional Representative Offices (RROs) have been appointed as Nodal Officers.
The Nodal Officers individually are a single point of contact for all matters concerning
a particular HFC and are part of the Inspection teams. They also ensure continuous
compliance with the observations arising out of Inspections of the HFCs.
3.4.1 Supervisory Circulars
NHB issued the following Supervisory Circulars during the year as detailed under:
a. Campaign for Covid-19 Appropriate behaviour
The HFCs were advised vide Circular dated 26th October, 2020 that in order to create
awareness about COVID-19 as well as to motivate people to be more responsible,
activities like Display of messages/banners/billboards across all offices/branches and
associate organizations and at prominent locations, pop up/flash messages on opening
of website/ app to reflect the message, rephrasing of awareness/information messages
to carry safety precaution related message for COVID, animated video on the reasons to
be careful and not let guard down while visiting/ availing HFC services, disseminating
videos through social media, mobile network and whatsapp channels etc. were to be
considered for giving wide publicity.
b. Scheme for grant of ex-gratia payment of difference between compound interest and
simple interest for six months to borrowers in specified loan accounts (Mar 01, 2020,
to Aug 31, 2020)
The HFCs were advised vide our circular dated 26th October 2020 to implement the
aforesaid scheme in terms of the instruction and guidelines issued by the Central
Government in this regard. HFCs were also advised to ensure that the payable ex-
gratia amount under the scheme shall have to be credited to the account of the eligible
borrower on or before 5th November 2020 post which HFCs could lodge their claim
for reimbursement latest by 15th December 2020 to the designated officer(s)/ cell at
the State Bank of India (SBI) as per the details notified by SBI in this regard. It was also
224 | Annual Report 2020-21
A Supervisory Committee of the Board (SCoB) was constituted by the Bank in 2016 to
advise and guide NHB in matters concerning Supervision. The committee is responsible
for overseeing the supervisory effectiveness of the Bank as well as to get a broad overview
of the general health of the Housing Finance Companies (HFCs).
5) Nodal Officers
For ensuring an effective Supervisory mechanism, the Bank has introduced a
decentralized structure of Supervision wherein Officers at the level of Regional Office
(RO)/Regional Representative Offices (RROs) have been appointed as Nodal Officers.
The Nodal Officers individually are a single point of contact for all matters concerning
a particular HFC and are part of the Inspection teams. They also ensure continuous
compliance with the observations arising out of Inspections of the HFCs.
3.4.1 Supervisory Circulars
NHB issued the following Supervisory Circulars during the year as detailed under:
a. Campaign for Covid-19 Appropriate behaviour
The HFCs were advised vide Circular dated 26th October, 2020 that in order to create
awareness about COVID-19 as well as to motivate people to be more responsible,
activities like Display of messages/banners/billboards across all offices/branches and
associate organizations and at prominent locations, pop up/flash messages on opening
of website/ app to reflect the message, rephrasing of awareness/information messages
to carry safety precaution related message for COVID, animated video on the reasons to
be careful and not let guard down while visiting/ availing HFC services, disseminating
videos through social media, mobile network and whatsapp channels etc. were to be
considered for giving wide publicity.
b. Scheme for grant of ex-gratia payment of difference between compound interest and
simple interest for six months to borrowers in specified loan accounts (Mar 01, 2020,
to Aug 31, 2020)
The HFCs were advised vide our circular dated 26th October 2020 to implement the
aforesaid scheme in terms of the instruction and guidelines issued by the Central
Government in this regard. HFCs were also advised to ensure that the payable ex-
gratia amount under the scheme shall have to be credited to the account of the eligible
borrower on or before 5th November 2020 post which HFCs could lodge their claim
for reimbursement latest by 15th December 2020 to the designated officer(s)/ cell at
the State Bank of India (SBI) as per the details notified by SBI in this regard. It was also
224 | Annual Report 2020-21
