Sarada Kumar Hota to take charge as the MD of NHB

Published on July 01, 2019
Sarada Kumar Hota, managing director and chief executive officer of Can Fin Homes, will take charge as the MD of National Housing Bank.
Sarada Kumar Hota to take charge as the MD of NHB

Details:

  • This comes nearly nine months after former MD Sriram Kalyanaraman stepped down.
  • The Appointments Committee of the Cabinet (ACC) on Wednesday approved the appointment of Hota as the MD of the housing finance regulator for a period of 3 years.
  • NHB had been headless ever since Kalynaraman was forced to resign in August 2018 amidst allegations of irregularities and misconduct.
  • The appointment of Hota comes at a time when the housing finance sector has been going through a turmoil due to liquidity crunch sparked off by the defaults by Infrastructure Leasing and Financial Services Ltd which unfolded last September.
  • The crisis led to a spike in borrowing costs for NBFCs and housing finance companies (HFCs), raising fears of contagion.

What is NHB?

  • NHB, which is now 100% owned by the government, is the nodal agency for supervision, refinance and development of the housing finance segment.

Question:

Q. Who will take charge as the MD of National Housing Bank?
a. Sharad Kumar Hota
b. Suman Kumar Hota
c. Sarada Kumar Hota
d. Sushil Kumar Hota

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