Section 46D
National Housing Credit (Long Term Operations) Fund.
The Reserve Bank of India Act, 1934
About this Act
An Act to Constitute a Reserve Bank of India.
1[46D. National Housing Credit (Long Term Operations) Fund.--(1) The Bank shall establish and
maintain a Fund to be known as the National Housing Credit (Long Term Operations) Fund to which
shall be credited every year such sums of money as it may consider necessary.
(2) The amount in the said Fund shall be applied by the Bank only to the following objects namely:--
(a) the making to the National Housing Bank of loans and advances for the purpose of any business of the National Housing Bank;
(b) the purchasing of bonds and debentures issued by the National Housing Bank.]
(2) The amount in the said Fund shall be applied by the Bank only to the following objects namely:--
(a) the making to the National Housing Bank of loans and advances for the purpose of any business of the National Housing Bank;
(b) the purchasing of bonds and debentures issued by the National Housing Bank.]
Notes
1. Ins. by Act 53 of 1987, s. 56 and the Second Schedule (w.e.f. 9-7-1988).