The Reserve Bank of India (“RBI”) has issued the following modifications to the Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021:
- New Paragraph 56A has been inserted which states that instructions regarding “Raising Money through Private Placement by NBFCs” as contained in para 58 of the Master Direction – Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023 (as amended from time to time) will be applicable, mutatis-mutandis, to HFCs.
- Paragraphs 57 to 68A under Chapter XI of Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021 which deals with “Guidelines on Private Placement of Non-Convertible Debentures (NCDs)” has been deleted.
Source: Reserve Bank of India
