The NHB started its operation from July, 1988. The Golden Jubilee Rural Housing Finance Scheme is being implemented through scheduled banks, HFCs and co-operative sector institutions. NIIB is wholly owned by Reserve Bank of India, which contributed the entire paid-up capital.
The general superintendence, direction and management of the affairs and business of NHB vest, under the Act, in a Board of Directors. NHB has been established to achieve, inter alia, the following objectives:
(a) To promote a sound, healthy viable and cost effective housing finance system to cater to all segments of the population and to integrate the housing finance system with the overall financial system.
(b) To promote a network of dedicated housing finance institutions to adequately serve various regions and different income groups.
(c) To augment resources for the sector and channelise them for housing.
(d) To make housing credit more affordable.
(e) To regulate the activities of housing finance companies based on regulatory and supervisory authority derived under the Act.
(f) To encourage augmentation of supply of buildable land and also building materials for housing and to upgrade the housing stock in the country.
(g) To encourage public agencies to emerge as facilitators and suppliers of serviced land, for housing.
(i) Against a target of 3.50 lakh dwelling units set by the Government of India for the year 2009-10, 3,87,546 units were financed during the period.
The SIDBI was established as a wholly owned subsidiary of Industrial Development Bank of India (IDBI) and started its operations on April 2, 1990. It took over the responsibility of administering Small Industries Development Fund and National Equity Fund which were earlier administered by IDBI.
It is engaged in providing assistance to the small scale industrial sector in the country through other institutions like state finance corporations, commercial banks and state industrial development corporations. The financial assistance sanctioned and disbursed by SIDBI during the financial year 2009-10 aggregated to Rs. 421 crore during the financial year 2009-10. Functions of SIDBI
(i) SIDBI refinances loans extended by the primary lending institutions to small scale industrial units, and also provides resources support to them.
(ii) SIDBI discounts and rediscounts bills arising from sale of machinery to or manufactured by industrial units in the small scale sector.
(iii) SIDBI extends seeds capital/soft loans assistance under National Equity Fund, Mahila Udyam Nidhi and Mahila Vikas Nidhi and seed capital schemes through specified lending agencies.
(iv) It provides services like leasing, factoring etc. to industrial concerns in the small scale sector.