Current Affairs - Persons - Discussion

The Reserve Bank of India (RBI) constituted a committee to review the existing state of mortgage securitisation in India and suggest measures to deepen it. The six-member committee on Development of Housing Finance Securitisation Market is headed by Harsh Vardhan, Senior Advisor, Bain & Co. The panel will review the regulations relating to mortgage-backed securitisation (MBS) currently in place, and make specific recommendations on suitably aligning the same with international norms. It will assess the role of various counterparties, including servicers, trustees, rating agencies, in the securitisation process and suggest the steps required.