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Under what regulations, the fixed deposits accepted by HFC’s are governed?

April 26, 2017deposits fixed governed HFC regulations

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Under what regulations, the fixed deposits accepted by HFC’s are governed?

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The public fixed deposit schemes of HFC’s are governed by regulations issued by National Housing Bank (“NHB”), the regulatory authority of HFC’s. The applicable regulations include National Housing Bank Act, 1987, Housing Finance Companies (NHB) Directions, 2001, guidelines circulars and notifications issued by NHB from time to time.