This notification from the Reserve Bank of India, dated November 18, 2020, specifies the minimum net owned fund (NOF) requirement for Housing Finance Institutions (HFIs) that are companies. Exercising powers conferred by clause (b) of subsection (1) of Section 29A of the National Housing Bank Act, 1987, the RBI mandates a minimum NOF of twenty crore rupees for companies commencing or continuing housing finance as their principal business. However, HFIs holding a Certificate of Registration under Section 29A of the National Housing Bank Act, 1987, with a NOF less than twenty crore rupees, can continue operations if they achieve a NOF of fifteen crore rupees by April 1, 2022, and twenty crore rupees by April 1, 2023. This notification is issued by Saurav Sinha, Executive Director, Department of Regulation, Reserve Bank of India. The notification number is DOR.048/EDSS/2020.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for regulating the banking sector.
Mumbai, Maharashtra: The city in India where the Reserve Bank of India issued the notification.
National Housing Bank Act, 1987: An Indian law that governs the National Housing Bank and housing finance institutions.
Section 29A of National Housing Bank Act, 1987: A specific section of the National Housing Bank Act, 1987 that pertains to registration and net owned funds.
housing finance institution: A company whose principal business is housing finance.
SAURAV SINHA: Executive Director at Reserve Bank of India who signed the notification.
Department of Regulation: A department within the Reserve Bank of India.
New Delhi: Location of Government of India Press, where the document was uploaded.
Gरजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-एम.एच.-अ.-18112020-223172
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 497] नई कदल्ली, ब धर्ार, नर्म्ब र 18, 2020/कार्ततक 27, 1942
No. 497] NEW DELHI, WEDNESDAY, NOVEMBER 18, 2020/KARTIKA 27, 1942
भारतीय ररिर् वबकैं
(जर्जनयमन जर्भाग)
अजधसचू ना
म ंबई, 18 नर्म् बर, 2020
स.ं जर्जर्. 048/काजन (एसएस)-2020.—राष्ट्रीय आर्ास बैंक अजधजनयम, 1987(1987 का 53) की धारा 29ए
की उप-धारा (1) के खंड (बी) द्वारा प्रदत्त िजियों का प्रयोग करत े हुए, भारतीय ररिर्व बकैं यहााँ आर्ास जर्त्त को अपन े
प्रम ख व्यर्साय के रूप म ें िरू करने र्ाल े या आर्ास जर्त्त के व्यर्साय को अपन े प्रम ख व्यर्साय के रूप म ें संचाजलत करन े
र्ाले ऐसे आर्ास जर्त्त संस्ट्थान िो कंपनी ह,ैं के जलए जनर्ल स्ट्र्ाजधकृत जनजध बीस करोड़ रुपय ेजर्जनर्ददष्ट करता ह।ै
बिते कक कोई ऐसा आर्ास जर्त्त संस्ट्थान िो राष्ट्रीय आर्ास बैंक अजधजनयम, 1987 की धारा 29 ए के अतं गतव
िारी पंिीकरण प्रमाण पत्र धारण करने र्ाली कंपनी ह ै और जिसकी जनर्ल स्ट्र्ाजधकृत जनजध बीस करोड़ रुपय े स े कम ह,ै
यकद ऐसी कंपनी 01 अप्रलै , 2022 स े पहले पद्रं ह करोड़ रुपय े और 01 अप्रलै 2023 से पहले बीस करोड़ रुपय े का जनर्ल
स्ट्र्ाजधकृत जनजध प्राप्त करती ह ैतो र्ह आर्ास जर्त्त संस्ट्थान का व्यर्साय िारी रख सकता ह।ै
सौरभ जसन्हा, कायवपालक जनदिे क
[जर्ज्ञापन-III/4/असा./366/2020-21]
5598 GI/2020 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
RESERVE BANK OF INDIA
(Department of Regulation)
NOTIFICATION
Mumbai, the 18th November, 2020
No. DOR.048/ED(SS)–2020.—In exercise of the powers conferred by clause (b) of sub-section (1)
of Section 29A of National Housing Bank Act, 1987 (53 of 1987), the Reserve Bank of India hereby
specifies the net owned fund of twenty crore rupees for housing finance institution which is a company to
commence housing finance as its principal business or carry on the business of housing finance as its
principal business.
Provided that a housing finance institution which is a company holding a Certificate of Registration
issued under Section 29A of National Housing Bank Act, 1987 and having net owned fund less than twenty
crore rupees, may continue to carry on the business of housing finance institution, if such company
achieves net owned fund of fifteen crore rupees before April 01, 2022 and twenty crore rupees before
April 01, 2023.
SAURAV SINHA, Executive Director
[ADVT.-III/4/Exty./366/2020-21]
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.