Explain in brief the eligibility criteria for obtaining Housing Finance Company Registration under the National Housing Bank Act, 1987.

Eligibility Criteria for Obtaining Housing Finance Company Registration Based on the provisions of section 29A of the National Housing Bank Act 1987, no Housing Finance Company shall start to carry out its operations of providing housing loans unless the same had met all the accompanying guidelines. Net Owned Funds: It shall be noted that the Net owned fund of a Housing Finance Company must be at least as the Reserve Bank may, by notification, specify from time to time. Therefore, an applicant needs to satisfy the requirements of net worth for obtaining Housing Finance Company Registration. Must be registered under the Companies Act 2013: The said Company requires to satisfy the requirements of a private limited company under the provisions of the Companies Act 2013 or the Companies Act, 1956. Housing Finance Activities as Object Clause: It is the last but the most important requirement of all that the objects of this type of company must mention for financing housing loans and other commercial complexes. Besides providing finance, the said company must also have the predictions of earning. The management and operations of the company must act in good faith and in the interest of the public and other consumers. That means they need to work in the interests of the public.