After making provision for bad and doubtful debts, depreciation of assets and all other matters for which provision is necessary or expedient or which is usually provided for by bankers, the National Housing Bank shall transfer--
(i) for a period of fifteen years, following the accounting year during which the National Housing Bank is established, the amount remaining (hereafter in this section referred to as surplus) such of the funds referred to in section 37 as the Reserve Bank may specify; and
(ii) after the expiry of the said period of fifteen years, the National Housing Bank shall, after making provision for the funds referred to in section 37, transfer the balance of surplus to 1[the Central Government].
(i) for a period of fifteen years, following the accounting year during which the National Housing Bank is established, the amount remaining (hereafter in this section referred to as surplus) such of the funds referred to in section 37 as the Reserve Bank may specify; and
(ii) after the expiry of the said period of fifteen years, the National Housing Bank shall, after making provision for the funds referred to in section 37, transfer the balance of surplus to 1[the Central Government].
Source footnotes
1. Subs. by s. 173, ibid., for““the Reserve Bank” (w.e.f. 1-6-2018).आगे पढ़ें / Continue reading
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Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Establishment and incorporation of National Housing Bank.Section 4 · Capital.Section 5 · Management.Section 6 · Board of Directors.Section 7 · Term of office of Chairman, Managing Director and other directors, service conditions, etc.Section 8 · Disqualifications.India Code, Government of India. Text fetched 26 Oct 2026. Source metadata reports last modification: 2019-12-02. Check the linked official text and subsequent notifications when applying a provision.