Power of National Housing Bank to require deposit data from housing finance companies strengthens supervisory reporting and depositor disclosure. The substituted provision authorises the National Housing Bank to direct deposit-taking housing finance companies to furnish specified statements and particulars about deposits to the National Housing Bank and the Reserve Bank in prescribed form and timing, covering amounts, purposes, periods, interest rates and other terms; it also permits the regulator to require such companies, at their cost and within set timeframes, to send annual accounts to depositors holding deposits above a regulator-set threshold.
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Provisions expressly mentioned in the judgment/order text.
Power of National Housing Bank to require deposit data from housing finance companies strengthens supervisory reporting and depositor disclosure.
The substituted provision authorises the National Housing Bank to direct deposit-taking housing finance companies to furnish specified statements and particulars about deposits to the National Housing Bank and the Reserve Bank in prescribed form and timing, covering amounts, purposes, periods, interest rates and other terms; it also permits the regulator to require such companies, at their cost and within set timeframes, to send annual accounts to depositors holding deposits above a regulator-set threshold.
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