Full Form of NHB
National Housing Bank
NHB Full Form is National Housing Bank. NHB refers to an entirely owned subsidiary of the Apex bank of India, the Reserve Bank of India (abbreviated as RBI). It was founded on July 9, 1988, vide the National Housing Bank Act 1987. NHB is essentially a premier financial institution for the purposes of housing. It was founded with the aim to function as a primary agency for the promotion of housing finance institutions at both regional and local levels and for the provision of financial and other incidental support to matters relevant. NGB regulates, registers and supervises what are called the Housing Finance Company (abbreviated HFCs) and maintains surveillance through off-site and On-site mechanisms and cooperates with other regulators.
The objectives of the NHB have been founded for the purpose of achieving the following aims: (1) For the promotion of a sound, cost-effective, and viable housing finance system to cater to the needs of all portions of the population, (2) For the promotion of the network of housing finance institutions, (3) For making housing credit easily affordable, (4) For encouraging public agencies in their emergence as suppliers and facilitators of serviced land for the purpose of housing, (5) For augmenting resources for the sector and channelizing them for housing.
(6) For encouraging the augmentation of the provision of land as well as building materials for the purposes of housing, (7) To engage in the up gradation of the housing stock in India, (7) The mission of the NHB is to make effective use of and promote the potentials of the market in serving the housing needs of the population with the main focus on moderate and low-income housing. It envisions to ensure inclusive expansion and at the same time stability in the present housing finance market of the country.