Ownership transfer of the National Housing Bank centralises control under the Central Government and updates governance rules. Amendments transfer ownership and statutory control of the National Housing Bank from the Reserve Bank to the Central Government, omit consultation requirements with the Reserve Bank, empower the Central Government to determine authorised capital and to receive transfer of subscribed capital, permit relocation of the head office by notification, reduce the number of Reserve Bank directors on the Board, and update statutory cross references to current company and foreign exchange laws.
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Provisions expressly mentioned in the judgment/order text.
Ownership transfer of the National Housing Bank centralises control under the Central Government and updates governance rules.
Amendments transfer ownership and statutory control of the National Housing Bank from the Reserve Bank to the Central Government, omit consultation requirements with the Reserve Bank, empower the Central Government to determine authorised capital and to receive transfer of subscribed capital, permit relocation of the head office by notification, reduce the number of Reserve Bank directors on the Board, and update statutory cross references to current company and foreign exchange laws.
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