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National Housing Bank

The Central Cabinet has approved payment of the face value of the subscribed share capital of Rs.1450 crore in National Housing Bank(NHB) to Reserve Bank of India (RBl) consequent to amendments made to the NHB Act, 1987 in 2018.

  • The wholesale financing role of NHB will get strengthened with the transfer of ownership to Government, thereby making possible augmented funding support to housing finance companies.
  • The change in ownership from RBI to Gol will also segregate RBI’s role as banking regulator and as owner of NHB.  NHB is an All India Financial Institution(AIFl), set up in 1988, under the National Housing Bank Act, 1987.
  • It is an apex agency established to operate as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support incidental to such institutions and for matters connected therewith.

 

FAME-India Scheme

  • The Central cabinet has approved the proposal for implementation of scheme titled ‘Faster Adoption and Manufacturing of Electric Vehicles in India Phase II (FAME India Phase II)’ for promotion of Electric Mobility in the country.
  • The scheme with total outlay of Rs 10000 Crores over the period of three years will be implemented with effect from 1st April 2019.
  • This scheme is the expanded version of the present scheme titled ‘FAME India1 which was launched on 1st April 2015. 

 

FAME-India Scheme Phase – II:

  • The scheme proposes to give a push to electric vehicles (EVs) in public transport.
  • It seeks to encourage adoption of EVs by way of market creation and demand aggregation.
  • FAME India is a part of the National Electric Mobility Mission Plan. Main thrust of FAME is to encourage electric vehicles by providing subsidies.
  • Vehicles in most segments – two wheelers, three wheelers, electric and hybrid cars and electric buses obtained the subsidy benefit of the scheme.
  • FAME focuses on 4 areas i.e. Technology development, Demand Creation, Pilot Projects and Charging Infrastructure. 

 

100 ?I by automatic route is permitted in the automobile sector. Further, automobile sector is in deregulated sector and both private sector and public sector are free to carry out investment in the automobile sector, including for manufacturing of Electric Vehicles and E-Buses. 

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