Question

The National Housing Bank was set up in India as a wholly-owned subsidiary of which one of the following?
a. Sate Bank of India
b. Reserve Bank of India
c. ICICI Bank
d. Life insurance Corporation of India

Answer 1

May be b option is correct

Answer 2

Answer:

The National Housing Bank was set up in India as a wholly-owned subsidiary of Reserve Bank of India.

Explanation:

On 9 July 1988 under the National Housing Bank Act 1987, National Housing Bank (NHB), a wholly owned subsidiary of Reserve Bank of India (RBI) was arranged.

The main objective for establishing National Housing Bank was to assist housing finance institutions both at local and regional levels and also to give  financial aid to such institutions and for matters concerned with them.

The Head Office of National Housing Bank (NHB) was made at New Delhi.