National Housing Board (NHB) regulates the housing finance system of the country, extends refinance to different primary lenders and lends directly in respect of projects undertaken by public housing agencies for housing construction and development of housing related infrastructure. To enhance the efficiency and effectiveness of the operation of Housing finance company (HFCs), National housing […]

Introduction Pursuant to the inter-government agreement between India and USA, Income tax Rules were amended on 7th August 2015, by inserting rules 114F, 114G and 114H. The requirement of reporting under the Income-tax Rules is imposed by rules 114G (7) and (8). The RBI issued its 28th August 2015 Circular BR.AML.BC.No.36/14.01.001/2015-16, drawing the attention of […]

In Line with the provisions mentioned under RBI’s notification (DOR.NBFC (HFC).CC.No.118/03.10.136/2020-21) on the regulatory framework for Housing Finance Companies, all HFCs must meet the following conditions as principal business criteria to operate as an HFC in India. The majority of Financial Assets to be in Housing Finance At least 60% of the company’s total assets […]

Introduction Considering the fast turnaround time in credit underwriting processes through Digital processes, the Reserve Bank of India has made certain changes in the reporting timelines of the Credit information held between the Credit institutions (CIs) and Credit Information companies (CICs). This reform is made with a view of providing updated/latest credit information to enable lenders […]