Excerpts from SEBI Board Meeting
The SEBI Board met in Mumbai today and took the following decisions: 1. The Amendment to Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999 The Securities Laws (Amendment) Ordinance, 2013 provides for regulation of pooling of funds under any scheme or arrangement, involving a corpus amount of one hundred crore rupees or… Read More
Tags: Collective investment scheme, Financial Stability Board, Mumbai, National Housing Bank, Search and seizure, SEBI, Securities & Exchange Board of India, Shelf registration
External Borrowing Norms for Housing Projects
The policy regarding ECB for the low cost affordable housing projects has been recently reviewed in consultation with RBI and has been rationalized as under: ¢ Developers/builders should have a minimum of three (3) years™ experience in undertaking residential projects as against five (5) years prescribed earlier and should have good track record in terms… Read More
Tags: Affordable housing, External Commercial Borrowing, finance, Lok Sabha, National Housing Bank, NHB, Public housing, Real Estate
India Signs Loan and Project Agreements with World Bank for US $100 Million for Low Income Housing Finance Project
The Loan and Project Agreements for World Bank (IDA) assistance of US $100 million for Low Income Housing Finance Project were signed between Government of India/National Housing Bank(NHB) and the World Bank here yesterday. The Loan Agreement was signed by Shri Nilaya Mitash, Joint Secretary, Department of Economic Affairs, Ministry of Finance on behalf of… Read More
Tags: Affordable housing, finance, Finance Minister, Government of India, India, National Housing Bank, NHB, World Bank
Master Circular Housing Finance
RBI/2013-14/67 DBOD. No.DIR.BC.17/08.12.001/2013-14 July 1, 2013 Ashadha 10, 1935, (Saka) All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam, Master Circular Housing Finance Please refer to the Master Circular DBOD No. Dir. BC.7/08.12.001/2012-13 dated July 2, 2012 consolidating the instructions / guidelines issued to banks till June 30, 2012 relating to Housing Finance. The Master Circular has been suitably updated… Read More
Tags: Bank, Commercial bank, Loan, Loan-to-value ratio, Master Circular, National Housing Bank, Real Estate, Reserve Bank of India
RBI Notification on External Commercial Borrowings (ECB) for the low cost affordable housing projects
RBI/2012-13/539 A.P. (DIR Series) Circular No. 113 June 24, 2013 To All Authorised Dealer Category I Banks Madam / Sir External Commercial Borrowings (ECB) for the low cost affordable housing projects Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to A.P. (DIR Series) Circular No. 61 dated December 17, 2012 on… Read More
Tags: Affordable housing, ECB, External Commercial Borrowing, finance, Foreign Exchange Management Act, National Housing Bank, Real Estate, Rupee
RBI FAQs :: Deposit Taking Activities of Financial Entities
1. What is a Non-Banking Financial Company? A Non-Banking Financial Company (NBFC) is a company a) registered under the Companies Act, 1956, b) its principal business is lending, investments in various types of shares/stocks/bonds/debentures/securities, leasing, hire-purchase, insurance business, chit business, and c) its principal business is receiving deposits under any scheme or arrangement in one… Read More
Tags: Collective investment scheme, Financial institution, India, Mutual fund, National Housing Bank, Non-banking financial company, Reserve Bank, Reserve Bank of India
Perspectives on Housing Finance in India
(Remarks by Shri Deepak Mohanty, Executive Director, Reserve Bank of India, at the International Conference on Housing: An Engine for Inclusive Growth organized by the National Housing Bank at New Delhi on April 12, 2013) I thank Mr. R.V. Verma, Chairman and Managing Director, National Housing Bank (NHB) for the opportunity to be a part… Read More
Tags: Finance in India, Housing in India, India, National Housing Bank, New Delhi, NHB, Reserve Bank of India
Single Window Clearance System for Real Estate Projects
Housing Start-up Index to be Formulated by Housing Ministry in collaboration With RBI National Urban Livelihood Mission Will Replace Existing SJSRY Shri Ajay Maken, Union Minister for Housing and Urban Poverty Alleviation today informed that the Government had sanctioned projects worth Rs 41723 crores for building of 15,69,000 houses/dwelling units for Economically Weaker/Lower Income Group… Read More
Tags: Ajay Maken, India, Jawaharlal Nehru National Urban Renewal Mission, Lok Sabha, Ministry of Housing & Urban Poverty Alleviation, National Housing Bank, Real Estate, Swarna Jayanti Shahari Rozgar Yojana