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Housing Financial Company is a type of finance company that is incorporated under the Companies Act of 1956. Housing Finance Company’s primary business is to offer financing for the acquisition or building of houses, which includes the development of plots of land for the construction of new residences, and it is regulated by the National Housing Bank Limited (NHB), a subsidiary of the Reserve Bank of India.
Conditions to be fulfilled for obtaining a certificate for registration by National Housing Bank
• Housing Finance Companies shall be in a position to pay its depositors in full as and when their claims accrue
• The conduct of the HFC should not be in any detrimental manner which is against the interest of its depositor
• The management of the HFC should not be prejudicial to the public interest or to the depositor the company
• The Housing Finance Company should have adequate capital and earning prospects
• the public interest should be served by the grant of such certificate of registration
• Such other conditions as specified by the NHB from time to time on granting the certificate of registration.Click here to know more – Housing Financial Company Registration
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