RBI Proposes Changes in Regulations for Housing Finance Companies
MUMBAI: The Reserve Bank on Wednesday proposed to double the minimum net owned fund (NOF) requirement for housing finance companies to Rs 20 crore and classification of such firms under its draft framework for these companies.
The step is aimed at strengthening the capital base mainly of small housing finance companies (HFC), the RBI said while releasing the proposed changes in the regulatory framework for HFCs.
A new category of systematically important HFCs based on financial parameters and restrict lending by HFCs either to a construction company or flat buyers of that company have also been proposed in the draft framework.
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