Housing Development Finance Corporation (HDFC) 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.
Source:
Economic Times
