July 29, 2021
All deposit taking Housing Finance Companies (HFCs)
Madam/ Dear Sir,
A reference is invited to Para 25.2 of Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021, wherein the names of five approved credit rating agencies and their minimum investment grade credit rating for the purpose of accepting public deposits have been listed.
2. On a review, it has been decided to align the aforesaid provisions for HFCs with provisions on the subject prescribed for NBFCs which are contained in Para 9 of Master Direction – Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016. Accordingly, the names of credit rating agencies
and their minimum investment grade ratings for the purpose of accepting public deposits by HFCs are listed in the Annex.
The Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021 is being modified accordingly
Yours faithfully,
(J.P. Sharma)
Chief General Manager
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