An Housing Finance Company (HFC) is a company incorporated under the Companies Act, 2013 which fulfills the following criteria:
Housing Finance” means financing, for purchase/ construction/ reconstruction/ renovation/ repairs of residential dwelling units, which includes:
The Reserve Bank has specified Rs 20 crore as the minimum net owned funds required for a company to commence housing finance company
A housing finance company holding a Certificate of Registration (CoR) and having net owned fund of less than Rupees twenty crore, may continue to carry on the business of housing finance, if such company achieves net owned fund of Rupees fifteen crore by March 31, 2022 and Rupees twenty crore by March 31 2023.
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