Transfer of ownership of National Housing Bank shifts control to Central Government, changing head office and board composition. Amendments substitute references to the Reserve Bank with the Central Government and transfer ownership of the National Housing Bank to the Central Government, relocate the head office to New Delhi (or other notified place), provide for transfer of subscribed capital from the Reserve Bank to the Central Government, permit the Central Government to increase authorised capital up to two thousand crore rupees by notification, reduce Reserve Bank nominated board members from two to one, and update statutory references to the Companies Act, 2013 and the Foreign Exchange Management Act, 1999.
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Transfer of ownership of National Housing Bank shifts control to Central Government, changing head office and board composition.
Amendments substitute references to the Reserve Bank with the Central Government and transfer ownership of the National Housing Bank to the Central Government, relocate the head office to New Delhi (or other notified place), provide for transfer of subscribed capital from the Reserve Bank to the Central Government, permit the Central Government to increase authorised capital up to two thousand crore rupees by notification, reduce Reserve Bank nominated board members from two to one, and update statutory references to the Companies Act, 2013 and the Foreign Exchange Management Act, 1999.
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