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RBI withdraws exemptions granted to Housing Finance Institutions

RBI vide notification dated 11th November, 2019 has withdrawn exemptions granted to Housing Finance Institutions from the provisions of Chapter IIIB (provisions relating to non-banking institutions receiving deposits and financial institutions) of Reserve Bank of India Act, 1934.

Consequently, provisions of Chapter IIIB except Section 45-IA(Requirement of registration and net owned fund)of Reserve Bank of India Act, 1934 shall be applicable to them. Master Direction – Exemptions from the provisions of RBI Act, 1934 has been updated accordingly on RBI Portal.

The complete notification is attached herewith:

RBI Notification_11.11.2019

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