Ownership transfer of National Housing Bank to central government reshapes governance, capital and statutory references under amended Act. Amendments to the National Housing Bank Act transfer ownership of the Bank from the Reserve Bank of India to the Central Government, substitute updated statutory references including the Companies Act, 2013 and the Foreign Exchange Management Act, 1999, permit the Central Government to fix the head office location and to increase authorised capital by notification, provide for transfer of subscribed capital from the Reserve Bank to the Central Government, and reduce Reserve Bank representation on the Board from two directors to one.
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Ownership transfer of National Housing Bank to central government reshapes governance, capital and statutory references under amended Act.
Amendments to the National Housing Bank Act transfer ownership of the Bank from the Reserve Bank of India to the Central Government, substitute updated statutory references including the Companies Act, 2013 and the Foreign Exchange Management Act, 1999, permit the Central Government to fix the head office location and to increase authorised capital by notification, provide for transfer of subscribed capital from the Reserve Bank to the Central Government, and reduce Reserve Bank representation on the Board from two directors to one.
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