RBI Issues Master Directions For Housing Finance Companies: Care Ratings
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Care Ratings Research Report
National Housing Bank was set up as a principal agency for the promotion of housing finance institutions both at local and regional levels and to provide financial and other support to such institutions.
To ensure a consistent regulatory regime, the Finance (No.2) Act, 2019 amended the National Housing Bank Act, 1987, conferring powers for regulation of Housing Finance Companies (HFCs) with Reserve Bank of India..
Earlier RBI had issued draft and then final regulatory framework for HFCs which treated HFCs as a specialised type of non-banking financial companies.
RBI has compiled and released these Master Directions for the better functioning of the financial system and HFCs.
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