Section 37

General Fund and other funds.

The National Housing Bank Act, 1987

  • Act 53 of 1987
  • Ministry of Finance
  • Department of Financial Services
About this Act

An Act to establish a bank to be known as the National Housing Bank to operate as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support to such institutions and for matters connected therewith or incidental thereto.

All sections
    (1) With effect from such date as 1[the Central Government] may specify, the National Housing Bank shall establish a fund to be called the General Fund and all payments by the National Housing Bank shall be made out of the said General Fund.
     (2) The Board may, and shall, if so directed by 1[the Central Government], create a special fund or a reserve fund or such other funds as may be prescribed.
    

Notes

1. Subs. by Act 13 of 2018, s. 172, for “the Reserve Bank” (w.e.f. 1-6-2018).

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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