<h1>Government to Form Expert Committee on Development Finance; Housing Finance Regulation Shifts to RBI; Factoring Act Amended.</h1> The government plans to set up an Expert Committee to recommend the structure and fund flow through development finance institutions, as announced in the Union Budget 2019-20. Regulatory authority over the housing finance sector is proposed to shift from NHB to RBI. The NPS Trust will be separated from PFRDA to ensure an independent organizational structure. A partial credit guarantee for public sector banks is proposed to support NBFCs. Additionally, the Net Owned Fund requirement for foreign reinsurers will be reduced, and amendments to the Factoring Regulation Act, 2011, will allow broader NBFC participation on the TReDS platform.