RBI publishes Reviewed regulatory framework for Housing Finance Companies (HFCs) on October 22, 2020. HFCs are exempted from section 45-IB (prescribing maintenance of percentage of assets) and section 45-IC (prescribing Reserve fund) of the Reserve Bank of India Act. Necessary Notification in this regard will be issued in due course. Further harmonization between the regulations of HFCs and NBFCs will be taken up in a phased manner in the next two years by RBI.
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