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Rules Governing Housing Finance Companies to be Reviewed by RBI
August 16, 2019
Central bank RBI has announced that it will look into the rules that govern the Housing Finance Companies in the country as now their regulation falls under its ambit rather than National Housing Bank (NHB).
HFCs will now be considered as one category under Non-Banking Financial Companies (NBFCs). They will also be regulated by the NHB until the Reserve Bank of India released new guidelines.
The powers of NHB to govern mortgage finance companies were taken away in the federal budget announced earlier this year and given to the central bank.
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