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2nd November 2017, 11:30 AM
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Join Date: Aug 2012
Re: National Housing Bank Established Year

National Housing Bank (NHB), a wholly owned subsidiary of Reserve Bank of India (RBI), was set up on 9 July 1988 under the National Housing Bank Act, 1987. N

Establishment History of the National Housing Bank

The Sub-Group on Housing Finance for the Seventh Five Year Plan (1985 90) identified the non-availability of long-term finance to individual households on any significant scale as a major lacuna impeding progress of the housing sector and recommended the setting up of a national level institution.

The Hon ble Prime Minister of India, while presenting the Union Budget for 1987-88 on 28 February 1987 announced the decision to establish the National Housing Bank (NHB) as an apex level institution for housing finance

. Following that, the National Housing Bank Bill (91 of 1987) providing the legislative framework for the establishment of NHB was passed by Parliament in the winter session of 1987 and with the assent of the Hon ble President of India on 23 December 1987, became an Act of Parliament.

The National Housing Policy, 1988 envisaged the setting up of NHB as the Apex level institution for housing.

In pursuance of the above, NHB was set up on 9 July 1988 under the National Housing Bank Act, 1987

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