The Reserve Bank of India (RBI) relaxed certain provisions for Housing Finance Institutions.
The RBI has issued a notification in supersession of its earlier notification No. DOR. 047/CGM (MM)-2019 dated November 19, 2019.
“The provisions of Sections 45-IA, 45-IB and 45-IC of the Reserve Bank of India Act, 1934 shall not apply to a non-banking financial company which is a Housing Finance Institution as defined in clause (d) of section 2 of the National Housing Bank Act, 1987,” the notification said.