RBI forms committee to review existing state of mortgage securitisation

To develop the housing finance securitisation market in India, the Reserve Bank of India (RBI) on Wednesday formed a committee to review the existing state of mortgage securitisation and suggest ways to develop the market further under the chairmanship of Harsh Vardhan, senior advisor, Bain & Co. 

The committee has been asked to submit its report by the end of August 2019. 

The newly appointed committee has been mandated to examine the existing structure for mortgage-backed securitisation transactions in India, including legal, tax, valuation and accounting-related issues. It has also been asked to suggest necessary modifications to address the requirements of originators