Sanjay Shukla assumes charge as MD of the National Housing Bank
Appointment
3 min read
Sanjay Shukla assumed charge as the Managing Director of the National Housing Bank on 30 July 2024. According to the National Housing Bank, Sanjay Shukla assumed the office after the government of India approved his name.
About Sanjay Shukla
Before joining as Managing Director of National Housing Bank, Sanjay Shukla was the Managing Director and Chief Executive Officer of the Non -Banking Financial Company (NBFC) Centrum Housing Finance.
Sanjay Shukla is a Chartered Accountant who started his career in 1991 as an officer in the LIC Housing Finance Limited. He has over 30 years of experience in housing and retail assets finance.
About National Housing Bank
The National Housing Bank (NHB) is a statutory body set up on 9 July 1988 under the provisions of the National Housing Bank Act 1987. It is the apex housing refinancing institution in India.
It comes under the Union Ministry of Finance.
Owner of NHB
Initially, the Reserve Bank of India (RBI) owned the National Housing Bank, but in March 2019, its ownership was transferred from the RBI to the Government of India.
At present, the Government of India is the 100 per cent owner of the National Housing Bank.
Functions of NHB
Initially, the National Housing Bank was the regulator and supervisor of the housing finance sector in India. In 2019, the National Housing Bank Act 1987 was amended, and RBI was made the regulator of the housing finance sector.
- The National Housing Bank has supervisory power over the Housing Finance Company registered as NBFC with RBI.
- It also deals with grievances related to the housing sector.
- It has the power to audit the books of the Housing Finance Company
- NHB does not provide loans directly to an individual. It provides direct loans to public agencies directly or in partnership with private developers under the Public Private Partnership (PPP) for the development of eligible Housing projects.
- It provides a long-term refinancing facility to eligible institutions, which provides housing finance loans to individuals, builders, and corporate groups for the construction of new houses, repair of houses, etc.
Headquarters of NHB: New Delhi
