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6. Board of Directors.-

(1) The Board of Directors of the National Housing Bank shall consist of the following, namely:-

(a) a Chairman and a Managing Director: Provided that the same person may be appointed as Chairman and as Managing Director;

(b) 2[two directors] from amongst the experts in the field of housing, architecture, engineering, sociology, finance, law, management and corporate planning or in any other field, special knowledge of which is considered useful to the National Housing Bank;

3[(c) two directors, who shall be persons with experience in the working of institutions involved in providing funds for housing or engaged in housing development or have experience in the working of financial institutions or scheduled banks;

(ca) two directors elected in such manner as may be prescribed by shareholders other than the 4***, the Central Government and other institutions owned or controlled by the Central Government;]

(d) 5[one director] from out of the directors of the Reserve Bank;

(e) three directors from amongst the officials of the Central Government;

(f) two directors from amongst the officials of the State Government.

(2) The Chairman, the Managing Director and other directors 6[excluding the directors referred to in clauses (ca) and (d)], shall be appointed by the Central Government 7[the director] referred to in clause (d) shall be nominated by the Reserve Bank.



National Housing Bank Act, 1987 Back




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