Directions

Regulation

NATIONAL HOUSING BANK
New Delhi, the 10th June, 2010
The Housing Finance Companies (NHB) Directions, 2010

(As Modified upto 1st August, 2012)

Published in the Gazette of India Part III Section 4 dated June 26, 2010



Notification No. NHB.HFC.DIR.1/CMD/2010

CHAPTER I - PRELIMINARY
CHAPTER II - ACCEPTANCE OF PUBLIC DEPOSITS
CHAPTER III - PRUDENTIAL NORMS
CHAPTER IV - DIRECTIONS TO AUDITORS
CHAPTER V - MISCELLANEOUS
SCHEDULE I
SCHEDULE II
SCHEDULE III

Whereas the National Housing Bank had issued Housing Finance Companies (NHB) Directions, 2001 in respect of matters relating to acceptance of deposits by housing finance companies, prudential norms for income recognition, accounting standards, asset classification, provision for bad and doubtful assets, capital adequacy and concentration of credit/ investments to be observed by the housing finance companies and matters to be included in the Auditors Report by the auditors of such housing finance companies and matters ancillary and incidental thereto and amended the said Directions from time to time.
2.           And whereas it is considered desirable to issue consolidated Directions incorporating the amendments made from time to time.
3.           Now therefore, the National Housing Bank  having considered it necessary in the public interest and being satisfied that for the purpose of enabling the National Housing Bank to regulate the housing finance system of the country to its advantage, it is necessary to give the Directions mentioned below, hereby in exercise of the powers conferred, by sections 30, 30A, 31 and 33 of the National Housing Bank Act, 1987 ( 53 of 1987) and of all the powers enabling it in this behalf, and in supercession of the aforementioned directions gives the Directions hereinafter specified.

 

CHAPTER I - PRELIMINARY

 

 

 

Short title, commencement and applicability of the Directions
1. (1) These Directions shall be