The retail mortgage-backed loans offered by non-banking financial companies (NBFCs) and housing finance companies (HFCs) are set to expand to Rs 20 trillion by FY2028, rating agency ICRA projects.
The revised regulations shall be applicable with effect from January 1, 2025 and will further harmonise regulations applicable to HFCs and NBFCs, the RBI said.
The stakeholders also discussed prioritizing the upgradation of IT systems and cyber security amid the increase in the use of technology applications.
The survey findings showed more HFCs expect a higher growth rate vis a vis NBFCs and, smaller and mid-sized entities expect higher growth rate vis-a-vis their larger peers.
The scheme has been launched to improve the liquidity position of NBFCs/HFCs through a Special Purpose Vehicle (SPV) to avoid any potential systemic risks to the financial sector.
Post lockdown, the Built Environment Sector is expected to draw professionals from across the world.
Gross NPA ratio is set to decline from 9.3 per cent in March this year to 9 per cent in March 2020.
