The government is considering shifting the regulation of housing finance companies (HFCs) from the National Housing Board (NHB) to the Reserve Bank of India (RBI), according to sources familiar with the development. The NHB, which has an RBI executive director as its board member, will, however, continue to supervise the HFCs, the sources added.
There are 82 HFCs in India, but more than 90 per cent of the housing finance market is controlled by the top five companies. Except a few such as Housing Development Finance Corporation (HDFC), India’s largest mortgage financier, others ...
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