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of <h1>Section 33 of National Housing Bank Act Amended: Expands Role of Reserve Bank in Housing Finance Oversight</h1> Clause 160 amends section 33 of the National Housing Bank Act, 1987, as part of the Finance (No. 2) Bill, 2019. The amendments specify that references to 'housing finance institution' are changed to 'housing finance institution which is a company.' The term 'National Housing Bank' is replaced with 'the National Housing Bank and the Reserve Bank' in various subsections, indicating a shared role with the Reserve Bank. Additionally, in subsection (3), the amendment mandates action upon direction from the Reserve Bank, altering the powers and duties of auditors under the Act.
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