The National Housing Bank (NHB) on December 31, 2021 has issued Master Circular on Returns to be submitted by Housing Finance Companies (HFCs). This shall be in effect from December 31, 2021.
The following was stated namely: -
• Returns to be submitted by HFCs - The HFCs are required to submit various returns to the Bank with respect to their deposit acceptance, prudential norms compliance, ALM etc.
• Mode of Submission Chapter - The Bank, as part of its green initiatives, paperless approach and e-governance practices, had developed Online Reporting Management Information System (ORMIS), for online submission of returns and various other information by Housing Finance Companies (HFCs).
• Interpretations Chapter - the Bank may, if it considers necessary, issue necessary clarifications in respect of any matter covered herein and the interpretation of any provision of the Circular given by the Bank shall be final and binding on all the parties concerned.
• Exemption - The Bank may, if it considers it necessary for avoiding any hardship or for any other just and sufficient reason, grant extensions of time to comply with or exempt any housing finance company or class of housing finance companies.
[Notification No. NHB(ND)/DOS/Sup. Circular No.7/2021-22]
