The Reserve Bank of India through circular dated July 29, 2021 has enlisted the names of credit rating agencies
and their minimum investment grade ratings for the purpose of accepting public deposits by HFCs. The provisions enlisting credit rating agencies in Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021, is aligned with provisions of Master Direction – Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016.
Ratings are changed from BWR FA to BWR FBBB for deposits of HFCs, to align with NBFCs.
