Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021

Last updated: 18 February 2021

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The Reserve Bank of India has issued new Master Directions for Non-Banking Financial Companies operating as Housing Finance Companies (HFCs) in 2021. These directions aim to regulate the financial system and ensure HFCs operate in a manner that benefits the public interest, protecting investors and depositors. The new guidelines supersede previous regulations.

RESERVE BANK OF INDIA DEPARTMENT OF REGULATION CENTRAL OFFICE, 2ND FLOOR, MAIN OFFICE BUILDING SHAHID BHAGAT SINGH MARG, FORT, MUMBAI 400 001 RBI/2020-21/73 DOR.FIN.HFC.CC.No.120/03.10.136/2020-21 February 17, 2021 Master Direction Non-Banking Financial Company Housing Finance Compan

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FAQ :

The Reserve Bank of India has issued the Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021.

These directions apply to all Non-Banking Financial Companies that operate as Housing Finance Companies (HFCs).

The purpose is to regulate the financial system in the public interest and to prevent the affairs of HFCs from being conducted in a manner detrimental to investors, depositors, or the HFCs themselves.

The directions are issued under Sections 45L and 45MA of the Reserve Bank of India Act, 1934, and Sections 30, 30A, 32, and 33 of the National Housing Bank Act, 1987.

Yes, these directions supersede the regulations and directions previously given in Chapter XVII of the relevant documents.

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Notification No : RBI/2020-21/73 DOR.FIN.HFC.CC.No.120/03.10.136/2020-21
Published in Miscellaneous
Source : https://rbidocs.rbi.org.in/rdocs/notification/PDFs/MD10007CE48ADE2FB4BF981444FE1349E3B71.PDF

Attached File : 322600_10026_md10007ce48ade2fb4bf981444fe1349e3b71_pdf.pdf

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