State Bank of India (SBI) announced the acquisition of National Housing Bank's (NHB) 10% stake in RMBS Development Company Limited (RDCL). Following this, NHB's shareholding in RDCL will reduce from 39% to 29%. RDCL was established in 2024 with ₹500 crore paid-up capital as a middle-layer NBFC to develop India's Residential Mortgage-Backed Securities (RMBS) market. It helps banks and non-bank lenders pool housing loans, convert them into tradable securities, unlock capital, improve liquidity, and support fresh lending to homebuyers.
Economy
SBI Acquires NHB's 10% Stake in RDCL to Deepen India's Residential Mortgage-Backed Securities Market
Key Points
- State Bank of India (SBI) announced the acquisition of National Housing Bank's (NHB) 10% stake in RMBS Development Company Limited (RDCL)
- Following this, NHB's shareholding in RDCL will reduce from 39% to 29%
- RDCL was established in 2024 with ₹500 crore paid-up capital as a middle-layer NBFC to develop India's Residential Mortgage-Backed Securities (RMBS) market
- It helps banks and non-bank lenders pool housing loans, convert them into tradable securities, unlock capital, improve liquidity, and support fresh lending to homebuyers
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• SBI acquires NHB's 10% stake in RDCL; NHB stake: 39% → 29%; RDCL est. 2024 • RDCL: RMBS Development Company Ltd; ₹500 crore paid-up capital; middle-layer NBFC • RMBS: Residential Mortgage-Backed Securities; deepens India's secondary mortgage market • SBI: India's largest PSB; Chairman: Challa Sreenivasulu Setty; NHB: National Housing Bank
