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of <h1>Reserve Bank Empowered to Regulate Housing Finance Companies Under Section 30A of the National Housing Bank Act</h1> Section 30A of the National Housing Bank Act, 1987, as amended by the Finance (No. 2) Act, 2019, grants the Reserve Bank the authority to establish policies and issue directives to housing finance companies. This power is exercised to protect public interest, regulate the housing finance system, and safeguard depositors' interests. The Reserve Bank can dictate policies on income recognition, accounting standards, and capital adequacy, among others. It can also set limits on financial accommodations and investments based on a company's financial standing. Non-compliance with these directives may lead to prohibitions on accepting deposits.
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