RBI vide Notification no. RBI/2021-22/53 dated 11th June, 2021 has decided that the Risk based Internal Audit(RBIA) shall be applicable to the following Housing Finance Companies (HFCs):
- All deposit taking HFCs, irrespective of their size
- Non-deposit taking HFCs with asset size of ₹5,000 crore and above
The applicable Housing Finance Companies (HFCs) shall comply with the framework by 30th June, 2022
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12079&Mode=0