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Q58 (IAS/2007) Economy › Money, Banking & Inflation › Banking structure Answer Verified

The National Housing Bank was set up in India as a wholly-owned subsidiary of which one of the following?

Result
Your answer: —  Â·  Correct: B
Explanation

The National Housing Bank (NHB) was established by the National Housing Bank Act, 1987 and set up in 1988 to act as the apex agency for housing finance in India [1]. At its inception, the Reserve Bank of India provided the entire paid-up capital, making NHB a wholly owned subsidiary of the RBI. This arrangement was part of the institutional architecture created to promote and refinance housing finance institutions at local and regional levels, with NHB functioning as a central agency rather than a direct retail lender [2].

Sources

  1. [1] Indian Economy, Vivek Singh (7th ed. 2023-24) > Chapter 2: Money and Banking- Part I > 12. NABARD: > p. 83
  2. [2] https://www.nhb.org.in/en/about-us/
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SIMILAR QUESTIONS

IAS · 2004 · Q47 Relevance score: 8.54

Consider the following statements: 1. The National Housing Bank, the apex institution of housing finance in India, was set up as a wholly- owned subsidiary of the Reserve Bank of India. 2. The Small Industries Development Bank of India was established as a wholly-owned subsidiary of the Industrial Development Bank of India. Which of the statements given above is/ are correct?

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With reference to the rule/rules imposed by the Reserve Bank of India while treating foreign banks, consider the following statements : 1. There is no minimum capital requirement for wholly owned banking subsidiaries in India. 2. For wholly owned banking subsidiaries in India, at least 50% of the board members should be Indian nationals. Which of the statements given above is/are correct ?

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Consider the following : 1. Global Trust Bank has been amalgamated with the Punjab National Bank. 2. The Second report of the Kelkar Committee dealing with direct and indirect taxes has maintained its original recommendation including the abolition of exemptions relating to housing loans. Which of the statements is/are correct?

IAS · 2006 · Q52 Relevance score: 0.00

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In May 2018, which one of the following banks was restricted from giving fresh credit and new recruitment of staff by the Reserve Bank of India?