What does National Housing Bank (NHB) means?

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NHB, the apex bank for Housing, was established on July 09, 1988 under NHB Act 1987, as a wholly owned subsidiary of RBI with head quarters in New Delhi. The bank was set up with the main purpose of setting up of an institution to operate as a principal agency to promote housing finance institutions and to provide financial and other support to these institutions.
NHB can raise sources by issue of bonds and debentures, borrowing from RBI under short term loans and long term operations, borrowing from Central govt and other approved institutions

Its functions are:
- Promotion and development of housing finance institutions.
- Refinance to banks and other housing finance institutions for credit facilities granted by them for housing.
- Inspection of books of accounts of housing finance institutions
- Technical, administrative and advisory assistance to housing finance institutions.
- Providing underwriting and guarantee facilities to housing finance institutions.
- Arranging financing and resources for institutions engaged in housing facilities.
- Advising Central and other govt. in the matter of housing and housing finance.
- Collection and publication of information and data relating to housing finance.
- Maintaining control over corporate housing finance institutions.