The Reserve Bank of India (RBI) vide notification dated December 27, 2022 has issued the revised Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021. The revised master direction is issued 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.
Every Housing Finance Company (HFC) registered under Section 29 A of the NHB Act, 1987 shall follow the revised master direction.
