National Housing Bank (NHB) has decided to increase the Refinance Limit from Rs. 24,000 crore to Rs.30,000 crore for the Current Year (July 2018-June 2019) towards refinancing eligible institutions. Now, eligible Housing Finance Companies & Other entities will have increased availability of funds.
Till date, Rs.8835 crore has been sanctioned. This refinancing is a credit flow to Housing Finance Companies & other Institutions. As a regulator, NHB regularly monitors the liquidity position of Housing Finance Companies.
Source- Press Information Bureau (PIB)
Static/Current Takeaways Important for Indian Bank PO Exam 2018-
- The Committee of Secretaries considered’ the recommendation and set up the High-Level Group under the Chairmanship of Dr. C. Rangarajan, the then Deputy Governor, RBI to examine the proposal and recommended the setting up of National Housing Bank as an autonomous housing finance institution.
- NHB was set up on July 9, 1988, under the National Housing Bank Act, 1987.
- The Head Office of NHB is at New Delhi.
- Dakshita Das is the Managing Director & Chief Executive Officer of National Housing Bank.