The National Housing Bank Act

Definition of deposit

Chapter not to apply in certain cases

Requirement of registration and net owned fund

Maintenance of percentage of assets

Reserve fund

Reserve Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of mone

Power of Reserve Bank to determine policy and issue directions

Power of National Housing Bank to collect information from housing finance institutions as to deposits

Duty of housing finance institutions to furnish statements, etc., under this Chapte

Powers and duties of auditors

Power of Reserve Bank to prohibit acceptance of deposit and alienation of assets

Power of National Housing Bank to file winding up petition

Inspection

Deposits not to be solicited by unauthorised persons

Disclosure of information

Power of Reserve Bank to exempt housing finance institutio

Chapter V to override other laws

Power to order repayment of deposit

Nomination by depositors


PROVISIONS RELATING TO HOUSING FINANCE INSTITUTIONS RECEIVING DEPOSITS


(1) The provisions of this Chapter shall not apply to
deposits accepted by a housing finance institution which is a firm or an unincorporated association of
individuals.

(2) For the removal of doubts, it is hereby declared that the firms and unincorporated associations
of individuals referred to in sub-section (1) shall continue to be governed by the provisions of Chapter
IIIC of the Reserve Bank of India Act, 1934 (2 of 1934). 

LAWGIST

# 29 Chapter not to apply in certain cases