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Reserve Bank power to direct housing finance institutions restricts advances and can prohibit deposit acceptance for non compliance. The substituted section empowers the Reserve Bank to issue binding directions to housing finance companies in the public interest or to regulate the housing finance system, covering income recognition, accounting standards, provisioning, capital adequacy with risk weights and credit conversion factors, and fund deployment. It may prohibit specified purposes for advances, set maximum exposures to persons or groups, regulate deposit matters including credit ratings, interest rates and deposit tenors, and prohibit deposit acceptance for non compliance.
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Provisions expressly mentioned in the judgment/order text.
<h1>Reserve Bank power to direct housing finance institutions restricts advances and can prohibit deposit acceptance for non compliance.</h1> The substituted section empowers the Reserve Bank to issue binding directions to housing finance companies in the public interest or to regulate the housing finance system, covering income recognition, accounting standards, provisioning, capital adequacy with risk weights and credit conversion factors, and fund deployment. It may prohibit specified purposes for advances, set maximum exposures to persons or groups, regulate deposit matters including credit ratings, interest rates and deposit tenors, and prohibit deposit acceptance for non compliance.
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