Question

What new rule will HFCs (Housing Finance Companies) need to follow starting January 2025 regarding public deposits?

A HFCs must reduce public deposits by 50% annually.
B HFCs must maintain liquid assets of at least 20% of public deposits
C HFCs must have a minimum investment grade credit rating to accept or renew public deposits
D HFCs must obtain approval from the RBI to accept new public deposits
E HFCs must stop accepting public deposits entirely.
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