Section 46D - National Housing Credit (Long-Term Operations) Fund,
Section 47 - Allocation of surplus profits : RBI Act 1934
What is National Housing Credit (Long-Term Operations) Fund? How to
do Allocation of surplus profits?
Section 46D and 47 of
Reserve Bank of India Act 1934
Section 46-D of RBI Act 1934 : "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
(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
(b) the purchasing of bonds and debentures issued by the
National Housing Bank.]
Section 47 of RBI Act 1934: "Allocation of
After making provision for bad and doubtful debts,
depreciation in assets, contributions to staff and
superannuation funds and for all other matters for which
provision is to be made by or under this Act or which are
usually provided for by bankers, the balance of the profits
shall be paid to the Central Government.