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Section 46 D – Reserve Bank of India Act,1934

Reserve Bank of India Act,1934

Section 46 D. National Housing Credit (Long Term Operations) Fund

1[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. Inserted by Act No. 53 of 1987, w.e.f. 9/7/1988.

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Reserve Bank of India Act,1934

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