NATIONAL HOUSING BANK (NHB)

About: 

• Status: NHB is an All India Financial Institution (AIFl), set up in 1988, under an Act of Parliament, viz. the National Housing Bank Act, 1987. 
  
  
• Mandate: It is the principal agency to promote housing finance institutions both at local and regional levels. 
  
  
• Parent agency: NHB is a wholly owned subsidiary of Reserve Bank of India (RBI). 
  
  
• Authorized Capital: Up till now, the authorized capital of NHB stands at Rs. 2,000 crore of which Rs. 1,450 crore has been subscribed by RBl. 
  
  
• NHB RESIDEX: It is the country’s first official housing price index (HPI). It captures movements in the prices of residential real estate prices. 
  
  

Recent decision: 

• Subsequent to the payment of Rs. 1450 to RBl, the subscribed capital of NHB shall stand transferred to and vested in the Central Government. 
  
  
• This has been done consequent to amendments made to the NHB Act, 1987 in 2018. 
  
  
• The expenditure of Rs.1,450 crore is to be met out of Gross Budgetary Support 2018-19.