This notification, DOR.047/CGM/MM-2019, issued by the Reserve Bank of India (RBI) on November 19, 2019, rescinds Notification No. DFC.COC No. 112/ED(SG)/1997 dated June 18, 1997. The rescinded notification granted exemptions to Non-Banking Financial Companies (NBFCs) that are Housing Finance Institutions (HFIs), as defined in clause (d) of section 2 of the National Housing Bank Act, 1987, from the provisions of Chapter IIIB of the Reserve Bank of India Act, 1934, excluding section 45IA. This rescission removes the exemption previously provided to HFIs under the specified conditions of the original notification. The notification was issued under section 45NC of the Reserve Bank of India Act, 1934. Manoranjan Mishra, Chief General Manager, is listed in the document.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for monetary policy and regulation of the banking system.
Mumbai, Maharashtra: City in India where the Reserve Bank of India notification was issued.
Notification No. DFC COC No. 112 ED SG1997: The specific notification being rescinded by the current notification.
Gazette of India: Official government gazette where the previous notification was published.
Reserve Bank of India Act, 1934: The act under which the Reserve Bank of India operates and derives its authority.
National Housing Bank Act, 1987: Act defining Housing Finance Institutions.
Non-Banking Financial Companies: Financial institutions that provide banking services without holding a banking license.
New Delhi, Delhi: Location of the Government of India Press.
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[िवKापन-III/4/असा./298/19]
RESERVE BANK OF INDIA
(Department of Regulation)
NOTIFICATION
Mumbai, the 19th November, 2019
No. DOR. 047/CGM (MM)-2019.—The Reserve Bank of India hereby rescinds the Notification No. DFC
(COC) No. 112 ED (SG)/1997 dated June 18, 1997 (published in PART III–Section 4 of the Gazette of India dated
November 15, 1997) issued under section 45-NC of the Reserve Bank of India Act, 1934 (Act 2 of 1934) (the Act)
granting exemption to Non-Banking Financial Companies which are Housing Finance Institutions as defined in
clause (d) of section 2 of the National Housing Bank Act, 1987 (Act 53 of 1987) from the provisions of Chapter IIIB of
the Act, except its application to section 45-IA of the Act.
MANORANJAN MISHRA, Chief General Manager
[ADVT.-III/4/Exty./298/19]
5953 GI/2019
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.