The development would attract higher foreign flows as many overseas funds are mandated to track global indices
DHFL is now under corporate insolvency resolution process as per IBC
The maximum exposure revised to 30 per cent of HFC's net owned fund (NOF) or 50 per cent of NHB's NOF, whichever is lower, it said.
Firm concludes its maiden PTC deal with ICICI Bank
FIDC has suggested that the National Housing Bank (NHB) which acts as the refinancing body for HFCs can be made the apex refinancing body for the entire NBFC sector
The company's counsel argued in the court that it was "malicious" and "malafide" petition which was causing loss to its business and reputation
Securitisation is needed to widen the pool of resources available to housing finance companies
Finance Minister Nirmala Sitharaman will meet heads of state-owned and private banks on Monday to discuss the ongoing liquidity crisis in NBFCs
With banks saddled with NPAs, NBFCs had stepped into the breach
NHB may also independently inspect the books of the HFCs, according to provisions of the Finance Bill, 2019
In case of deposits, HDFC and PNB Housing have good chunk of total deposits
The housing market regulator has proposed to raise capital adequacy ratio for HFCs from 12% to 15% by March 2022 and pare their total borrowings to 12 times their net worth from 16 times
Dakshita Das, additional secretary in the finance ministry, currently holds additional charge as MD & CEO of the NHB effective August 16 last year
Experts believe this is also been seen as step to bring NBFCs and HFCs on the same page when it comes to CAR
NHB has proposed the RBI to hike this lending limit for the company from 10 times to 12.5-13 times of the net-owned funds, which stood at Rs 800 billion, an official said
The NHB, a principal agency to promote and provide financial support to 97 housing finance institutions, had sanctioned Rs 88.35 billion till date
Sriram Kalyanaraman plays a key role in fulfilling the government's agenda of providing housing to all by 2021
NHB is the apex regulatory and refinancing institution for housing finance companies