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of <h1>Amendment to Section 33 of the National Housing Bank Act: Expands Reserve Bank's Role and Redefines Housing Finance Institutions.</h1> Section 33 of the National Housing Bank Act, 1987, is amended by the Finance (No. 2) Act, 2019. The amendments specify that references to 'housing finance institution' are now 'housing finance institution which is a company.' Additionally, references to 'the National Housing Bank' are changed to include 'the Reserve Bank' in various sub-sections. In sub-section (3), the amendment mandates action not only at any time but also as directed by the Reserve Bank. These changes integrate the Reserve Bank's role alongside the National Housing Bank in the regulatory framework.
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