The Reserve Bank of India (RBI) on June 20, 2023, issued a notification regarding updated Master Directions - Mortgage Guarantee Companies (Reserve Bank) Directions, 2016.
Enabling the Bank to regulate the financial system to the advantage of the country and to prevent the affairs of any Mortgage Guarantee Company from being conducted in a manner detrimental to the interest of investors or in any manner prejudicial to the interest of such MGCs and in the exercise of the powers conferred under section 45JA of Reserve Bank of India Act, 1934 (Act 2 of 1934), in supersession of the Master Circulars DNBR(PD-MGC) CC.No.01/23.11.001/2015-16, DNBR(PD-MGC) CC.No. 02/23.11.001/2015-16 and DNBR (PD-MGC) CC.No.DNBR (PDMGC) CC.No.03/23.11.001/2015-16 dated July 01, 2015, hereby issues the Master Direction on Mortgage Guarantee Companies (Reserve Bank) Directions, 2016 attached to the document.
[NotificationNo.RBI/DNBR/2016-17/50MasterDirectionDNBR.(PD-MGC)No. 1/23.11.001/2016-17]
