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#2
October 6th, 2017, 03:29 PM
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| Re: National Housing Bank Schemes
The National Housing Bank (NHB) was established on 9th July 1988 under an Act of the Parliament viz. the National Housing Bank Act, 1987 to function as a principal agency to promote Housing Finance Institutions and to provide financial and other support to such institutions. National Housing Bank has three major roles to perform: Regulation and Supervision of Housing Finance companies Promotion and Development of Housing Finance market Financial assistance for housing extended mainly to Banks, Housing Finance Companies and other financial intermediaries, public agencies etc NHB Suvriddhi (Tax Saving) Term Deposit Scheme, 2008 The National Housing Bank has framed a scheme to mobilize deposits from individuals & HUF. The scheme has been notified in the Gazette of India dated October 18, 2008. A copy of the scheme as notified is annexed as Annexure I. The Central Govt. has notified the said scheme for the purpose of Section 80C of the Income Tax Act, 1961 vide notification No S. O. 21(E) dated 5th January, 2009. A copy of the notification is annexed as Annexure – II. Deposits under the National Housing Bank Term Deposit Scheme will be accepted by the National Housing Bank subject to the terms and conditions as contained in the notification dated October 18, 2008 and the general instructions herein contained. NHB Suvriddhi (Tax Saving) Term Deposit Scheme, 2008    |