The government plans to return regulatory and supervisory powers of housing finance companies to the Reserve Bank of India from the National Housing Bank.
“The NHB, besides being a refinance and lender, is the regulator of the housing finance sector. This gives a somewhat conflicting and difficult mandate to the NHB,” Finance Minister Nirmala Sitharaman said in her maiden budget speech.
The necessary proposals have been made in the Finance Bill 2019, Sitharaman said.
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