RBI raises shareholding in NHB by pumping in Rs 1,000 crore

Reserve Bank has increased its shareholding in National Housing Bank by contributingRs 1,000 crore towards the paid capital from Rs 450 crore to Rs 1,450 crore.

• The move is aimed at facilitating NHB to expand financial operations given the demand for housing in the country under the NHB Act, 1987.

Set up in 1988, NHB is an apex level institution for housing, keeping in view the non-availability of long-term finance to individual households as a major lacuna impeding progress of housing sector in the country.