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NHB was the regulator of housing finance companies; however effective August 2019, the regulatory powers of NHB were transferred to RBI. This was done following the sale of the stake in NHB held by RBI to the Government of India. As such, NHB ceased to be a subsidiary of RBI in March 2019. Now, RBI is the regulator of Housing Finance Companies in India, while NHB continues to supervise the HFCs
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