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In force

The National Housing Bank Act, 1987

69 sections · As amended up to 2026-08

Sections

  1. IV — BUSINESS OF THE NATIONAL HOUSING BANK
  2. 1Subs. by Act 15 of 2000, s. 12, for "housing finance institutions" (w.e.f. 12-6-2000)
  3. V — ; or
  4. 2Signed and delivered by
  5. VII — MISCELLANEOUS
  6. 3Establishment and incorporation of National Housing Bank
  7. III — MANAGEMENT OF THE NATIONAL HOUSING BANK
  8. 5Management
  9. V — ; or
  10. 6The word, brackets and letters "or clause (aa)" omitted by s. 2 and Schedule, ibid., (w.e.f. 22-1-2024)
  11. III — MANAGEMENT OF THE NATIONAL HOUSING BANK
  12. 7Term of office of Chairman, Managing Director and other directors, service conditions, etc
  13. 8Disqualifications
  14. 9Vacation and resignation of office by directors
  15. 10Casual vacancy in the office of Chairman or Managing Director
  16. 11Meetings of Board
  17. 12Executive Committee and other committees
  18. 13Director of Board or member of committee thereof not to participate in meetings in certain cases
  19. IV — BUSINESS OF THE NATIONAL HOUSING BANK
  20. 14Business of the National Housing Bank
  21. 15Borrowings and acceptance of deposits by National Housing Bank
  22. 16Loans in foreign currency
  23. 16BAmount and security to be held in trust
  24. 17Power to transfer rights
  25. 18Power to acquire rights
  26. 19Power to impose conditions for accommodation
  27. 20Power to call for repayment before agreed period
  28. 21National Housing Bank to have access to records
  29. 22Validity of loan or advance not to be questioned
  30. 23National Housing Bank not to make loans or advances against its own bonds or debentures
  31. 24Power to inspect
  32. 25Power to collect credit information
  33. 26Power to publish information
  34. 27Advisory services
  35. V — 2[PROVISIONS RELATING TO HOUSING FINANCE INSTITUTIONS]
  36. 28Definition of deposit
  37. 29Chapter not to apply in certain cases
  38. 29BMaintenance of percentage of assets
  39. 29CReserve fund
  40. 33Powers and duties of auditors
  41. 33BPower of National Housing Bank to file winding up petition
  42. 34Inspection
  43. 35Deposits not to be solicited by unauthorised persons
  44. 36Chapter V to override other laws
  45. 36BNomination by depositors
  46. 36CDefinitions
  47. 36DAppointment of recovery officer
  48. 36EApplication to the recovery officer
  49. 36FProcedure in respect of application under section 36E
  50. 36GEnforcement of order of recovery officer
  51. 36HChief Metropolitan Magistrate and District Magistrate to assist recovery officer in taking charge of
  52. 36LTerm of office
  53. 36MStaff of Appellate Tribunal
  54. 36NSalaries and allowances and other terms and conditions of service of Presiding Officers
  55. 36PResignation and removal
  56. 36QOrders constituting Appellate Tribunal to be final and not to invalidate its
  57. 36SAppeal to the Appellate Tribunal
  58. 36UProcedure and powers of recovery officer and Appellate Tribunal
  59. 36VLimitation
  60. VI — FUNDS, ACCOUNTS AND AUDIT
  61. 37General Fund and other funds
  62. 38Preparation of balance sheet, etc., of National Housing Bank
  63. 39Disposal of surplus
  64. 40Audit
  65. 41Returns
  66. 42Annual report on housing
  67. VII — MISCELLANEOUS
  68. 43Staff of National Housing Bank
  69. 44Obligation as to fidelity and secrecy
  70. 45Defects in appointment not to invalidate acts, etc
  71. 46Protection of action taken under the Act
  72. 47Indemnity of directors
  73. 49Penalties
  74. V — ; or
  75. 50Offences by companies
  76. 51Cognizance of offences
  77. 53Bankers' Books Evidence Act 18 of 1891, to apply in relation to National Housing Bank
  78. 54Liquidation of National Housing Bank
  79. 55Power of the Board to make regulations
  80. 57Power to remove difficulties