RBI/2021-22/53
DoS.CO. PPG.SEC/03/11.01.005/2021-22

June 11, 2021

The Chairman / Managing Director / Chief Executive Officer of:
All deposit taking HFCs
All non-deposit taking HFCs with asset size of ₹5,000 crore and above

Madam/Dear Sir,

Risk Based Internal Audit (RBIA)

Please refer to the circular Ref. No. DoS.CO.PPG/SEC.05/11.01.005/2020-21 dated February 03, 2021 on the captioned subject.

2. On a review, it has been decided that the provisions of the aforesaid circular shall be applicable to Housing Finance Companies (HFCs) also, as stipulated below:

1. All deposit taking HFCs, irrespective of their size

2. Non-deposit taking HFCs with asset size of ₹5,000 crore and above

3. The above-mentioned entities shall put in place a RBIA framework by June 30, 2022, in accordance with the provisions of the aforesaid circular.

Yours faithfully,

(Ajay Kumar Choudhary)
Chief General Manager-in-charge