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of <h1>Finance Bill 2018: National Housing Bank Ownership Shifts to Central Government; Key Amendments to Capital and Board Structure</h1> The amendments to the National Housing Bank Act, 1987, proposed in the Finance Bill, 2018, include substituting references from the Foreign Exchange Regulation Act, 1973, to the Foreign Exchange Management Act, 1999. The ownership of the National Housing Bank is to be transferred from the Reserve Bank of India to the Central Government, with the head office relocated to New Delhi or another specified location. The amendments also empower the Central Government to increase authorized capital and reduce the number of Reserve Bank directors on the Board. References to outdated legislation are updated to reflect current laws.
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