The National Housing Bank (NHB) was established on 9th July 1988 the National Housing Bank Act, 1987 to function as a principal agency to promote Housing Finance Institutions and to provide financial and other support to such institutions.
The National Housing Bank Act empowers National Housing Bank or NHB to:
- Direct and regulate the functioning of housing finance institutions for fair practices
- Provide loans, advances or any other financial assistance to Banks and housing finance institutions for slum improvement
- Supervise mobilization of resources and extension of credit for housing
NHB has the main objective of promoting a network of highly efficient and dedicated housing finance institutions to cater to the finance needs from various regions and income groups. In order to upgrade the housing stock in the country, National Housing Bank undertakes augmentation of supply of buildable land and building materials.
Besides raising resources for the housing sector, NHB also provides refinance to major housing finance institutions. All the Housing Finance Companies registered with the National Housing Bank are eligible for refinance support from NHB if they have net owned funds of minimum Rs. 10.0 crores. National Housing Bank has contributions in equity capital of five Housing Finance Companies (HFC).
Along with the HFC’s, National Housing Bank also engages in direct lending to state housing boards and development authorities. It also provides financial assistance to people affected by natural calamities like earthquake, flood, cyclones etc.
The main businesses and finance products of NHB include:
- Raising Resources by issuing bonds or debentures, borrowing from reserve bank of India and other financial institutions
- NHB launched “Swarna Jayanti Rural Housing Finance Scheme” to make housing loans accessible for housing development works in rural India on the golden jubilee of India’s Independence
- Mortgage Backed Securitisation and development of secondary mortgage market in India
- Mortgage Credit Guarantee scheme for protection of lenders against any default.
- Providing Refinance to Housing Finance Institutions
- National Housing Bank also engages in Project Finance for large-scale housing projects
- The finance products by NHB include Equity Support and Reverse Mortgage loans along with the above listed services
For other info regarding the news, tender notices and recruitment and careers at National Housing Bank, refer to their official website. The site also gives you online submission of returns facility.
CONTACT DETAILS:
Head Office Address:
National Housing Bank
Core 5 – A
India Habitat Center
Lodhi Road
New Delhi – 110003
Website:http://nhb.org.in/