Transfer of ownership of National Housing Bank to Central Government reshapes governance, capital authority, and statutory references. Transfer of ownership of the National Housing Bank from the Reserve Bank to the Central Government is proposed, with consequential substitutions replacing references to the Reserve Bank throughout the Act. The Central Government is empowered to specify the head office location, to assume subscribed capital from the Reserve Bank and to increase authorised capital by notification. Board composition is adjusted by reducing Reserve Bank representation, and statutory cross references are updated to the Companies Act, 2013 and the Foreign Exchange Management Act, 1999.
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Transfer of ownership of National Housing Bank to Central Government reshapes governance, capital authority, and statutory references.
Transfer of ownership of the National Housing Bank from the Reserve Bank to the Central Government is proposed, with consequential substitutions replacing references to the Reserve Bank throughout the Act. The Central Government is empowered to specify the head office location, to assume subscribed capital from the Reserve Bank and to increase authorised capital by notification. Board composition is adjusted by reducing Reserve Bank representation, and statutory cross references are updated to the Companies Act, 2013 and the Foreign Exchange Management Act, 1999.
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