Transfer of ownership of National Housing Bank to Central Government alters governance and capital control. The Bill updates a Companies Act reference in section 40 to the Companies Act, 2013, and proposes structural changes including transfer of ownership of the National Housing Bank from the Reserve Bank to the Central Government, relocation of the head office, empowerment of the Central Government to increase authorised capital by notification, transfer of subscribed capital to the Central Government, reduction in Reserve Bank director representation on the board, and consequential updates to statutory cross-references.
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Transfer of ownership of National Housing Bank to Central Government alters governance and capital control.
The Bill updates a Companies Act reference in section 40 to the Companies Act, 2013, and proposes structural changes including transfer of ownership of the National Housing Bank from the Reserve Bank to the Central Government, relocation of the head office, empowerment of the Central Government to increase authorised capital by notification, transfer of subscribed capital to the Central Government, reduction in Reserve Bank director representation on the board, and consequential updates to statutory cross-references.
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