Current Affairs · RBI Regulatory Framework for Housing Finance Companies

Consider the following statements regarding the revised regulatory framework implemented by the Reserve Bank of India (RBI) for Housing Finance Companies (HFCs): 1. The regulatory guidelines reduce the ceiling on public deposit borrowing for deposit-taking HFCs from 2.5 times to 1.5 times of their net owned funds. 2. The regulatory change is expected to drive HFCs to borrow more from money markets and bank loans, which could potentially increase their overall funding costs by 20-30 basis points. 3. Under the revised norms, HFCs are strictly mandated to completely phase out alternative funding sources such as non-convertible debentures to mitigate systemic risks. Which of the above statements is/are correct?