1. Short title, extent and commencement.—(1) This Act may be called the National Housing Bank
Act, 1987.
(2) It extends to the whole of India.
(3) It shall come into force on such date1
as the Central Government may, by notification in the
Official Gazette, appoint, and different dates may be appointed for different provisions of this Act and
any reference in any provision to the commencement of this Act shall be construed as a reference to the
coming into force of that provision.
2. Definitions.—In this Act, unless the context otherwise requires,—
(a) “Board” means the Board of Directors of the National Housing Bank referred to in section 6;
(b) “Chairman” means the Chairman of the Board appointed under section 6;
(c) “director” means a director appointed under section 6;
(d) “housing finance institution” includes every institution, whether incorporated or not, which
primarily transacts or has as 2
[one of its principal objects], the transacting of the business of providing
finance for housing, whether directly or indirectly;
(e) “Managing Director” means the Managing Director appointed under section 6;
(f) “National Housing Bank” means the National Housing Bank established under section 3;
(g) “notification” means a notification published in the Official Gazette;
(h) “prescribed” means prescribed by regulations made under this Act;
(i) “Reserve Bank” means the Reserve Bank of India constituted under section 3 of the Reserve
Bank of India Act, 1934 (2 of 1934).
(j) words and expressions used herein and not defined but defined in the Reserve Bank of India
Act, 1934 (2 of 1934), shall have the meanings respectively assigned to them in that Act;
(k) words and expressions used herein and not defined either in this Act or in the Reserve Bank of
India Act, 1934 (2 of 1934), but defined in the Banking Regulation Act, 1949 (10 of 1949), shall have
the meanings respectively assigned to them in the Banking Regulation Act, 1949.