Transfer of ownership of the National Housing Bank to the Central Government restructures governance and updates statutory references. Amendments transfer ownership of the National Housing Bank from the Reserve Bank of India to the Central Government, substitute Reserve Bank references with Central Government throughout the Act, permit relocation of the head office to New Delhi or another notified place, provide for transfer of subscribed capital to the Central Government, and empower the Central Government to increase authorised capital by notification. Governance adjustments reduce the number of Reserve Bank directors on the Board and update statutory cross references to the Companies Act, 2013 and the Foreign Exchange Management Act, 1999.
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Transfer of ownership of the National Housing Bank to the Central Government restructures governance and updates statutory references.
Amendments transfer ownership of the National Housing Bank from the Reserve Bank of India to the Central Government, substitute Reserve Bank references with Central Government throughout the Act, permit relocation of the head office to New Delhi or another notified place, provide for transfer of subscribed capital to the Central Government, and empower the Central Government to increase authorised capital by notification. Governance adjustments reduce the number of Reserve Bank directors on the Board and update statutory cross references to the Companies Act, 2013 and the Foreign Exchange Management Act, 1999.
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