Based on the examination of the comments received, the Reserve Bank of India (RBI) has releases the Reserve Bank of India (Securitisation of Standard Assets) Directions, 2021.
These directions have been issued to All Scheduled Commercial Banks (including Small Finance Banks but excluding Regional Rural Banks); All All-India Term Financial Institutions (NABARD, NHB, EXIM Bank, and SIDBI); All Non-Banking Financial Companies (NBFCs) including Housing Finance Companies (HFCs) in the exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act, 1949; Chapter IIIB of the Reserve Bank of India Act, 1934; and Sections 30A, 32 and 33 of the National Housing Bank Act, 1987.
These directions come into immediate effect replacing the existing instructions on the matter of securitisation of standard assets. The RBI advised all lending institutions are to take the necessary steps to ensure compliance with these directions.
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