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 Company (Reserve Bank) Directions, 2021

The Reserve Bank of India (the Bank), having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Housing Finance Company (HFCs) from being conducted in a manner detrimental to the interest of investors and depositors or in any manner prejudicial to the interest of such HFCs, and in exercise of the powers conferred 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, hereby issues to every HFC, in supersession of the regulations/ directions as given in Chapter XVII of these directions, the Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021 hereinafter specified.

Manoranjan Mishra
(Chief General Manager)

Please refer to the attached file details.

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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