This notification, S.O. 1660(E), issued by the Ministry of Finance, Department of Financial Services, Government of India, on April 29, 2019, announces the transfer of the subscribed capital of the National Housing Bank (NHB) from the Reserve Bank of India (RBI) to the Central Government. Effective March 19, 2019, the one thousand four hundred and fifty crore rupees (₹1450 crore) subscribed capital of NHB, previously held by the RBI, is now vested in the Central Government. This transfer is enacted under the powers conferred by subsection 3 of section 4 of the National Housing Bank Act, 1987 (53 of 1987). The transfer occurred upon the Central Government's payment of the face value of the subscribed capital to the Reserve Bank. The notification was issued under F. No. 2412018/IFII and signed by Pankaj Jain, Additional Secretary.
Key Entities Referenced
Central Government: The government of India.
PANKAJ JAIN: Additional Secretary of the government.
Ministry of Finance: The government ministry responsible for financial matters.
Department of Financial Services: A department within the Ministry of Finance.
New Delhi: The location of the notification and the capital of India.
National Housing Bank Act, 1987: The act of parliament governing the National Housing Bank.
National Housing Bank: A financial institution focused on housing finance.
Reserve Bank of India: The central bank of India.
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PART II—Section 3—Sub-section (ii)
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[फा. सं. 24/1/2018-आईएफ-II]
पंकज जैन, अपर सिचव
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 29th April, 2019
S.O. 1660(E).—In exercise of the powers conferred by sub-section (3) of section 4 of the National
Housing Bank Act, 1987 (53 of 1987), the Central Government hereby notifies that the subscribed capital of
one thousand four hundred and fifty crore rupees of the National Housing Bank by the Reserve Bank of India,
stands transferred to, and vested in the Central Government upon payment of the face value of the subscribed
capital, to the Reserve Bank, with effect from the 19th day of March, 2019.
[F. No. 24/1/2018-IF-II]
PANKAJ JAIN, Addl. Secy.
2293 GI/2019
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.