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August 27, 2015

Banking Awareness : Important Details you should know about NHB (National Housing Bank)

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The National Housing Bank (NHB) is a state owned bank and regulation authority in India, created on 8th July 1988 under section 6 of the National Housing Bank Act (1987). The NHB is wholly owned by Reserve Bank of India, was established to promote private real estate acquisition. The NHB is regulating and re-financing social housing financing companies and other activities like research and IT-initiatives, too.

Objectives of NHB :
  • To promote a sound, healthy, viable and cost effective housing finance system to cater to all segments of the population and to integrate the housing finance system with the overall financial system.
  • To promote a network of dedicated housing finance institutions to adequately serve various regions and different income groups. 
  • To augment resources for the sector and channelize them for housing. 
  • To make housing credit more affordable. 
  • To regulate the activities of housing finance companies based on regulatory and supervisory authority derived under the Act. 
Important Points to Note :
  • Head Quarters : New Delhi
  • Present MD & CEO : Sriram Kalyanaraman (from 8th July 2015)
  • Established on : 9th July 1988 
  • Vision : Promoting inclusive expansion with stability in housing finance market
  • Mission : To harness and promote the market potentials to serve the housing needs of all segments of the population with the focus on low and moderate income housing. 

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