RBI extends KYC norms to Housing Finance Companies
- The Reserve Bank of India has announced that the Know Your Customer (KYC) guidelines/norms will now be applicable to Housing Finance Companies also.
- It must be noted that the Regulation of Housing Finance Companies (HFCs) was transferred from the National Housing Bank to RBI in August 2019.
- And KYC norms are applicable to all Regulated Entities of the RBI and hence it has now been made applicable on Housing Finance Companies also.
Points to remember:
- Recently the KYC norm has been made applicable by RBI on which type of company?- Housing Finance Companies
Source: RBI