Regulation
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In
terms of the National Housing Bank Act, 1987, National Housing
Bank is expected, in the public interest, to regulate the housing finance system of the country to its advantage or to prevent
the affairs of any housing finance institution being conducted
in a manner detrimental to the interest of the depositors or
in a manner prejudicial to the interest of the housing finance
institutions. For this, National Housing Bank has been empowered
to determine the policy and give directions to the housing
finance institutions and their auditors. Besides the regulatory provisions of the National Housing Bank Act, 1987, National Housing Bank has issued the Housing Finance Companies (NHB) Directions, 2001 as also Guidelines for Asset Liability Management System in Housing Finance Companies. These are periodically updated through issue of circulars and notifications. As part of the supervisory process, an entry level regulation is sought to be achieved through a system of registration of housing finance companies. National Housing Bank supervises the sector through a system of on-site and off-site surveillance. |
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