The Reserve Bank of India vide its notification dated 18th November 2020 has specified that the net owned fund for the housing finance companies at Rs. 20 crore provided that a housing finance institution holding a Certificate of Registration and having net owned fund less than 20 crore rupees, may continue to carry on the business of housing finance institution, if such company achieves net owned fund of 15 crore rupees before 1st April, 2022 and 20 crore rupees before 1st April, 2023.
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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