RBI relaxes restrictions on HDFC Credila regarding on-boarding of new customers

Housing Development Finance

27/06/2023 15:21

BENGALURU, June 27 (Reuters) - Housing Development
Finance Corporation (HDFC)  HDFC.NS  on Tuesday said the Reserve
Bank of India has relaxed restrictions on its education finance
arm, HDFC Credila, related to the addition of new customers.
    The relaxation was granted after the company met RBI's
condition that the application for change in the shareholding of
HDFC Credila as a non-banking finance company be made to the
central bank before July 31, 2023, according to the filing.
    The RBI had also asked for the shareholding of HDFC Bank in
HDFC Credila to be brought down to 10% on or before March 31,
2024, the company said in the filing.

 (Reporting by Yagnoseni Das in Bengaluru; editing by Eileen
Soreng)
 ((Yagnoseni.Das@thomsonreuters.com; +91 6001289066;))