Section 16: Loans in foreign currency. - (1) Notwithstanding anything contained [the Foreign Exchange Management Act, 1999 (42 of 1999)] or in any other law for the time being in force relating to foreign exchange, the National Housing Bank may, for the purpose of making loans and advances under this Act, borrow in such manner and on such conditions as may be prescribed in consultation with the Reserve Bank and with the previous approval of the Central Government, foreign currency from any bank or financial institution in India or elsewhere

Q: What does Section 16 of The National Housing Bank (Amendment) Act, 2019 (TNHBAA) deal with?

Section 16 TNHBAA pertains to "Loans in foreign currency. - (1) Notwithstanding anything contained [the Foreign Exchange Management Act, 1999 (42 of 1999)] or in any other law for the time being in force relating to foreign exchange, the National Housing Bank may, for the purpose of making loans and advances under this Act, borrow in such manner and on such conditions as may be prescribed in consultation with the Reserve Bank and with the previous approval of the Central Government, foreign currency from any bank or financial institution in India or elsewhere". It is part of the The National Housing Bank (Amendment) Act, 2019, a legislation enacted by the Parliament of India. Section 16 of The National Housing Bank (Amendment) Act, 2019 (TNHBAA) governs loans in foreign currency. - (1) Notwithstanding anything contained [the Foreign Exchange Management Act, 1999 (42 of 1999)] or in any other law for the time being in force relating to foreign exchange, the National Housing Bank may, for the purpose of making loans and advances under this Act, borrow in such manner and on such conditions as may be prescribed in consultation with the Reserve Bank and with the previous approval of the Central Government, foreign currency from any bank or financial institution in India or elsewhere. As verified on 19 May 2026.

Q: Is Section 16 TNHBAA still in force?

Yes, Section 16 of the The National Housing Bank (Amendment) Act, 2019 is currently in force across the Republic of India.

Q: What is धारा 16 TNHBAA?

धारा 16 TNHBAA is the Devanagari Hindi reference for Section 16 of the The National Housing Bank (Amendment) Act, 2019. Section 16 of The National Housing Bank (Amendment) Act, 2019 (TNHBAA) governs loans in foreign currency. - (1) Notwithstanding anything contained [the Foreign Exchange Management Act, 1999 (42 of 1999)] or in any other law for the time being in force relating to foreign exchange, the National Housing Bank may, for the purpose of making loans and advances under this Act, borrow in such manner and on such conditions as may be prescribed in consultation with the Reserve Bank and with the previous approval of the Central Government, foreign currency from any bank or financial institution in India or elsewhere. As verified on 19 May 2026.

Q: What is Dhara 16 TNHBAA?

Dhara 16 TNHBAA is the Roman Hindi reference for Section 16 of the The National Housing Bank (Amendment) Act, 2019. "Dhara" means "Section" in Hindi. Section 16 of The National Housing Bank (Amendment) Act, 2019 (TNHBAA) governs loans in foreign currency. - (1) Notwithstanding anything contained [the Foreign Exchange Management Act, 1999 (42 of 1999)] or in any other law for the time being in force relating to foreign exchange, the National Housing Bank may, for the purpose of making loans and advances under this Act, borrow in such manner and on such conditions as may be prescribed in consultation with the Reserve Bank and with the previous approval of the Central Government, foreign currency from any bank or financial institution in India or elsewhere. As verified on 19 May 2026.

Q: How to cite Section 16 of The National Housing Bank (Amendment) Act, 2019?

Cite as: "Section 16, The National Housing Bank (Amendment) Act, 2019 (TNHBAA)" in legal briefs. For academic writing, use the BlueBook format: The National Housing Bank (Amendment) Act, 2019, § 16 (India).

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(2)

The Central Government may, where necessary, guarantee any loan taken by the National Housing Bank under sub-section (1) or any part thereof as to the repayment of principal and the payment of interest and other incidental charges.

[16-A. Assistance to borrower when to operate or a charge in the property offered as security.

(1)

Where any person or institution seeks any financial assistance from the National Housing Bank on the security of any immovable property belonging to him or to that institution or on the security of the property of some other person whose property is offered as a collateral security for such assistance, such person or institution or, as the case may be, such other person may execute a written declaration in the form set out in the Third Schedule to this Act stating therein the particulars of the immovable property which is proposed to be offered as security, or as the case may be, collateral security, for such assistance and agreeing that the dues relating to the assistance, if granted, shall be a charge on such immovable property and, if on receipt of such declaration, the National Housing Bank grants any financial assistance to the person or institution aforesaid, the dues relating to such assistance shall, without prejudice to the rights of any other creditor holding any prior charge or mortgage in respect of the immovable property so specified, be, by virtue of the provisions of this section, a charge on the property specified in the declaration aforesaid.

(2)

Where any further immovable property is offered by a person or an institution as security for the financial assistance referred to in sub-section (1), such person or institution may execute a fresh declaration, as far as may be in the form set out in the Third Schedule to this Act, whereupon the dues relating to such assistance shall, by virtue of the provisions of this section, also be a charge on the property specified in such fresh declaration.

(3)

A declaration made under sub-section (1) or sub-section (2) may be varied or revoked at any time by the person or institution as aforesaid, with the prior approval of the National Housing Bank.

(4)

Every declaration made under sub-section (1) or sub-section (2) shall be deemed to be a document registrable as an agreement under the provisions of the Registration Act, 1908 (16 of 1908) and no such declaration shall have effect unless it is so registered.