9911796707
TMI BlogSubstitution of section 30A.X X X X Extracts X X X X X X X X Extracts X X X X ..... rest or to regulate the housing finance system of the country to its advantage or to prevent the affairs of any housing finance institution which is a company being conducted in a manner detrimental to the interest of the depositors or in a manner prejudicial to the interest of such housing finance institutions, it is necessary or expedient so to do, it may determine the policy and give directions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s generally or to a group of such housing finance institutions or to any housing finance institution which is a company in particular as to- (a) the purpose for which advances or other fund-based or non-fund-based accommodation may not be made; and (b) the maximum amount of advances or other financial accommodation or investment in shares and other securities which, having regard to the paid-u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (4) If any housing finance institution which is a company accepting deposits fails to comply with any direction issued under sub-section (3), the Reserve Bank may, by order, prohibit the acceptance of deposits by that housing finance institution.". - Clause 157 of the Bill seeks to substitute section 30A of the said Act relating to power of Reserve Bank to determine policy and issue directions. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
