To some the news of the possible changes in project finance by banks and other sectoral lenders might appear to have come out of the blue. But the fact is that RBI has been in a process of tightening and cleaning up the system of every segment and subsegment of banking and financial services for more than the last one and a half years. Infact the first set of companies where the tightening of the norms was implemented were housing finance companies. Right from raising capital to disbursement norms, everything was tightened. Whenever there is tightening of norms, stocks from that sector tend to correct. Same has been the case with housing finance companies, they have underperformed in the last one year of bull run. But as the companies adjust to new norms, there will be some players who probably would make a comeback faster. Given the fact that despite all the problems which the sector has faced, it has still grown on an overall basis and there is no reason to believe that this will n
SBI ties-up with 5 housing finance companies to further affordable loans to unserved : Rashtra News #SBI #tiesup #housing #finance #companies #affordable #loans #unserved The five housing finance companies (HFCs) are: PNB Housing Finance, IIFL Home Finance, Shriram Housing Finance, Edelweiss Housing Finance, and Capri Global Housing Finance. The country’s largest lender State Bank of
Nirmal Bang initiates coverage on HFFC and Aavas Financiers, foreseeing growth opportunities. HFFC has 30.5% upside, Aavas 14%. AHFCs positioned for growth despite challenges. India s housing market shows potential for affordable housing finance sector.
The draft circular of the RBI has proposed to review certain directions for deposit-taking NBFCs as part of further harmonisation of HFC regulations with those of NBFCs. - RBI Proposes Stricter Rules For Housing Finance Firms; Check All Details Here
The RBI today issued a draft framework seeking to harmonise regulations of HFCs with those of NBFCs in several areas including deposit directions. The banking regulator has invited comments from NBFCs (including HFCs) and other stakeholders by February 29, 2024