Press Release No. 2009-2010/1637, dated 3-6-2010

The Reserve Bank of India today posted on its website the draft guidelines on minimum holding period and minimum retention requirement for securitisation transactions undertaken by NBFCs. The draft guidelines contain modification of the extant guidelines issued on February 01, 2006 and also introduce two new aspects, namely, defining a minimum holding period before selling an asset to an Special Purpose Vehicle and retention of a minimum portion of the loan prior to securitisation.

Adopting a consultative approach, the guidelines have been placed on the Reserve Bank’s website (www.rbi.org.in) for comments by a wider audience. Comments/ suggestions may please be sent by email at the earliest but within 21 days of hosting of the guidelines, for consideration of the Reserve Bank.

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