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RBI announces tougher norms for NBFCs planning private placement of debt

By Religare

The Reserve Bank of India (RBI) has announced new and stricter norms for non-banking financial companies (NBFCs), directing them to wait for at least six months between two private debt placements.

RBI has also made it mandatory for NBFCs that the debt be fully secured by underlying assets.

New norms will effective immediately, said RBI in its notification released on Thursday.

Story first published: Friday, June 28, 2013, 22:50 [IST]
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