LawgistThe Reserve Bank of India Act
46DNational Housing Credit (Long Term Operations) Fund
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.]
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1. Ins. by Act 53 of 1987, s. 56 and the Second Schedule (w.e.f. 9-7-1988).
GENERAL PROVISIONS
- 46 Contribution by Central Government to the Reserve Fund
- 46A Contribution to National Rural Credit (Long Term Operations) Fund and Nation al Rural Credit (Stabilisation) Fund
- 46C National Industrial Credit (Long Term Operations) Fund
- 46D National Housing Credit (Long Term Operations) Fund
- 47 Allocation of surplus profits
- 48 Exemption of Banks from income-tax and super-tax
- 49 Publication of Bank rate
- 50 Auditors
- 51 Appointment of special auditors by Government
- 52 Powers and duties of auditors
- 53 Returns
- 54 Rural Credit and Development
- 54A Delegation of powers
- 54AA Power of Bank to depute its employees to other institutions
- 55 [Omitted.]
- 56 [Omitted.]
- 57 Liquidation of the Bank
- 58 Power of the Central Board to make regulations
- 58A Protection of action taken in good faith
