National Housing Bank 4j633g

NATIONAL HOUSING BANK (Presentation on Law of Financial Institutions)

PARVATHY HIDAYATULLAH NATIONAL LAW UNIVERSITY

CONTENTS          

INTRODUCTION OBJECTIVES REFINANCE ASSISTANCE REFINANCE SCHEMES REVERSE MORTGAGE LOAN RURAL HOUSING FUND DEPOSIT SCHEMES ACTS/REGULATIONS NEW INITIATIVES CONCLUSION

INTRODUCTION

OBJECTIVES       

To promote effective housing finance system and to integrate it with overall financial system. To promote housing finance institutions. To augment resources and channelize them for housing. To make housing credit more affordable. To regulate the activities of housing finance companies. To augment supply of buildable land and building materials for housing. To encourage public agencies in this field.

REFINANCE ASSISTANCE

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PLIs provide finance to individual borrowers, builders, corporate houses etc for purchase/construct or repair/ upgradation of houses. The institutions which are eligible to take refinance from NHB are HFCs Scheduled Banks RRBs MFIs ACIs ACHFSs SCARDBs

REFINANCE SCHEMES Direct housing loans up to 15 laks disbursed by HFCs to individuals for constructing new houses.  Extension and renovation loans up to 5 laks.  Housing loans under PHIRA program.  Other assistance by HFCs under Subsidy-Cum-Self Finance schemes of Government. 

REVERSE MORTGAGE LOAN RML is a loan that lets to convert a portion of equity in home into cash. It is available to senior citizens for supplementing pension/income. It provides a monthly stream of income against mortgage of their home while remaining as an owner in possession.  In India maximum tenure is 15-20 years. In other countries there is no such time period. 

RURAL HOUSING FUND RHF was introduced to refinance operation in rural housing sector.

DEPOSIT SCHEMES NHB SUNIDHI Term Deposit Scheme. 2. NHB SUVRIDDHI (Tax Saving) Term Deposit Scheme. 3. Special Term Deposit Scheme for HFCs. 1.

ACTS & REGULATIONS NHB Act, 1987 2. NHB General Regulation, 1988 3. NHB (Voluntary Deposits) Scheme, 1991 4. NHB (Recovery of Dues) General Regulation, 2002 1.

NEW INITIATIVES Housing Micro Finance 2. Energy Efficient Housing 3. Home Loan Councelling 4. NHB Residex 1.

CONCLUSION

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