According to the revised guidelines, the RBI has reduced the ceiling on the quantum of public deposits that a deposit-taking HFC, which is in compliance with all prudential norms and minimum investment grade credit rating, can hold - from 3 times to 1.5 times its net owned fund (NoF).
As a result, deposit-taking HFCs holding deposits in excess of the revised limit will not accept fresh public deposits or renew existing deposits till they conform to the revised limit. However, the existing excess deposits will be allowed to run off till maturity, the RBI said.
The central bank said the norms were revised in order to harmonise the guidelines for NBFCs and HFCs. There are 97 HFCs in the country, while deposit-taking NBFCs, including HFCs, are only 26.
The regulator has not allowed any new NBFC to accept public deposits for close to two decades now. Deposit-taking NBFCs accounted for 14.6 per cent of the total assets of the NBFCs at end-March 2023.
LIC Housing Finance and PNB Housing Finance are some of the deposit-taking HFCs.
この記事は Business Standard の August 13, 2024 版に掲載されています。
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この記事は Business Standard の August 13, 2024 版に掲載されています。
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