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Amendment of section 55

Clause 174 - Bills - AMENDMENTS TO THE NATIONAL HOUSING BANK ACT, 1987 - FINANCE BILL, 2018 - Clause 174 - 174. . In section 55 of the principal Act,- (i) in sub-section (1), the words the Reserve Bank and in consultation with shall be omitted; (ii) .....

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mit or substitute the reference of Reserve Bank with Central Government. It is proposed to transfer the ownership of the National Housing Bank from the Reserve Bank of India to the Central Government. It is further proposed to amend sub-section (3) o .....

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Act so as to empower the Central Government to increase the authorised capital up to two thousand crore rupees or such other amount as it may determine, by notification. It is also proposed to insert a new sub-section (3) in the said section relating .....

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