The National Housing Bank (NHB) is a Government of India owned entity that was established in 1988 to promote housing finance in the country. It is a wholly owned subsidiary of the Reserve Bank of India (RBI) and operates as the regulator for housing finance companies in India.
One of the main objectives of NHB is to provide financial assistance to housing finance companies (HFCs) and other institutions that are engaged in the business of providing housing loans to individuals and institutions. NHB also plays a crucial role in developing the housing finance market in India by providing refinancing facilities to HFCs, banks, and other financial institutions.
In addition to its regulatory role, NHB also functions as a development finance institution, providing financial assistance to housing projects that cater to the economically weaker sections of society. This includes providing loans to build affordable housing units, slum rehabilitation projects, and housing for low-income groups.
NHB also plays an important role in promoting home ownership in the country by providing various schemes and initiatives for home buyers. For example, NHB has introduced the "Credit Linked Subsidy Scheme" (CLSS) under the Pradhan Mantri Awas Yojana (PMAY) which provides financial assistance to first-time home buyers belonging to the economically weaker sections of society.
In conclusion, the National Housing Bank is a vital institution in the housing finance sector in India, working towards the development of the housing market and promoting home ownership among the citizens of the country. Its efforts towards providing financial assistance to housing projects catering to the economically weaker sections of society and initiatives such as the CLSS under PMAY have had a significant impact on the availability of affordable housing in India.
National Housing Bank
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NHB (National Housing Bank) Notes on Mission, Vision, Importance, etc.
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