When did the National Housing Bank start its operations?

a. July, 1982

b. July, 1988

c. April, 1980

d. March, 1971

ANSWER: July, 1988

Explanation:

The National Housing Bank, the apex institution of housing finance in India, is a wholly-owned subsidiary of RBI. It started operating from July, 1988 with an authorised paid-up capital of RS. 450 crore.