Question

National Housing Bank (NHB) was set up in the year :

• A. 1984
• B. 1985
• C. 1988
• D. 1991

Answer 1

Answer:

C. 1988

The National Housing Bank (NHB)

• It is a financial institution in India that was established to promote and regulate housing finance in the country.
• It was set up as a subsidiary of the Reserve Bank of India (RBI) in 1988 under the National Housing Bank Act, 1987.
• Its primary purpose is to provide financial and regulatory support to the housing finance sector in India.
• NHB regulates housing finance companies (HFCs) in India.
• It sets guidelines and standards for their operations to ensure transparency, prudence, and stability in the housing finance sector.