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Housing companies will be allowed to achieve this target in a staggered manner -- 60% by March 31, 2022, 70% by March 31, 2023, and 75% by March 31, 2024.
The central bank said that HFCs can either take exposure on the group company in real estate business or lend to retail individual home buyers in the projects of group entities, but not do both.
However, HFCs will be given a phased timeline of up to four years to comply with the new RBI guidelines. They should achieve 60 per cent individual loans by 2022, 70 per cent by 2023 and 75 per cent b
The RBI said that existing HFCs would be provided with a glide path to achieve minimum Net Owned Fund (NOF) of Rs 20 crore. They will be required to reach Rs 15 crore within one year and Rs 20 crore w

RBI proposes changes in regulations for HFCs

02:52pm, Wednesday, 17'th Jun 2020
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 fo
Central bank sets a formal definition of 'housing finance' in draft released on its website
OLD BRIDGE, NJ / ACCESSWIRE / June 16, 2020 / Blonder Tongue Laboratories, Inc. (NYSE American:BDR) announced today that it has received notice from NYSE American LLC ("NYSE American") that
OLD BRIDGE, NJ / ACCESSWIRE / June 16, 2020 / Blonder Tongue Laboratories, Inc. (NYSE American:BDR) announced today that it has received notice from NYSE American LLC ("NYSE American") that it is not
OLD BRIDGE, NJ / ACCESSWIRE / June 15, 2020 / Blonder Tongue Laboratories, Inc. (NYSE American:BDR) announced today the appointment of Michael Hawkey to its board of directors. Mr. Hawkey is a highly
NBN 250 plans are now priced more affordably than ever thanks to NBN Co - but is it worth the upgrade?
OLD BRIDGE, NJ / ACCESSWIRE / June 15, 2020 / Blonder Tongue Laboratories, Inc. (NYSE American:BDR) announced today the appointment of Michael Hawkey to its board of directors. Mr. Hawkey is a highly
Dr. Clifton Emery Selected As HFC Academic Expert In Social Welfare to Help Guide Grant-Making for HFC Asia NEW YORK--(BUSINESS WIRE)--Help For Children (HFC) today announced the expansion of its HFC
Asset Management One Co. Ltd. cut its stake in HollyFrontier Corp (NYSE:HFC) by 9.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC).
CSB Bank, JK Tyre, Pfizer, Shalby, Shoppers Stop and Ramky Infra are among companies which will announce Q4 results today.
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