The Reserve Bank of India (RBI) has added a rider for offloading its stake in the National Housing Bank (NHB) to the government by suggesting it handle the regulation, licensing and supervision of housing companies to provide banks and housing finance companies a level playing field.
Housing finance companies are currently regulated by NHB, which is, in turn, regulated by RBI. NHB is wholly-owned by RBI. Sources close to the developments said the government is yet to take a decision on the suggestion since RBI's proposal has met with some opposition. Ownership of NHB will give the government greater say in the boards of housing finance institutions and flexibility to issue directions to meet its priority sector credit objectives. RBI sources said the need for regulating housing companies arise because they do not have prudential guidelines or risk-linked capital limits to which banks, which come under the central bank's purview, are subject. (10-Aug-09) Business Standard thanks, mukesh jain. -- email: [email protected] mob: 919977165123 to read articles, circulars, books, titorials, and lot more related to PWD's visit my site: http://www.mukesh.myehome.in to know about my efforts of sketching the life of mumbai visit: http://www.themumbaicity.webs.com To unsubscribe send a message to [email protected] with the subject unsubscribe. To change your subscription to digest mode or make any other changes, please visit the list home page at http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in
