The Reserve Bank of India vide notification dated 18 November, 2020 has relaxed the requirements applicable to non-banking financial companies for Housing Finance Institutions as per the National Housing Bank Act, 1987. The Requirement for registration, net owned fund, Reserve fund and Maintenance of percentage of assets under the RBI Act shall no longer be applicable to Housing Finance institutions.
The comments on the draft Directions are invited from public/stakeholders till May 12, 2025.
The amendments specifically alter Table 3.1 and Table 3.2 of the notification dated February 2, 2023. These tables outline the Annual Energy Consumption for the
Entities interested may submit their application along with supporting documents (not exceeding 10 MB in total size) via email.
RBI has launched PRAVAAH (Platform for Regulatory Application, Validation And Authorisation) portal on May 28, 2024 to streamline online applications for regulatory authorisations.
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