trending Market Intelligence /marketintelligence/en/news-insights/trending/3ecR6yS6xy1SBZk7YVrbrA2 content esgSubNav
In This List

Indian regulator asks large housing finance firms to hire chief risk officer

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Blog

Investment Banking Essentials Newsletter April Edition - 2022

Blog

Banking Essentials Newsletter April Edition - 2022


Indian regulator asks large housing finance firms to hire chief risk officer

Indian housing finance regulator National Housing Bank is requiring large housing finance companies to appoint a chief risk officer to strengthen their risk management practices.

In a May 29 circular, NHB said housing finance firms with assets of more than 50 billion rupees should appoint a chief risk officer with clearly defined responsibilities and can function independently.

Housing finance companies should ensure the independence of the chief risk officer. The chief risk officer will be appointed for a fixed tenure with the approval of the board.

The regulator said the move was prompted by the increasing role of housing finance companies in direct credit intermediation, which in turn requires them to augment their risk management practices.