For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    RBI To Merge 3 Categories Of NBFCs To Form A New Category

    |

    The RBI has decided to merge the three categories of NBFCs namely. Asset Finance Companies (AFC), Loan Companies (LCs) and Investment Companies (ICs) into a new category called NBFC - Investment and Credit Company (NBFC-ICC).

    RBI To Merge 3 Categories Of NBFCs To Form A New Category
     

    In a RBI notification released on Friday, the central bank will merge the 3 sub-categories of NBFCs to form a new category. "On a review, it has been decided that in order to provide NBFCs with greater operational flexibility, harmonisation of different categories of NBFCs into fewer ones shall be carried out based on the principle of regulation by activity rather than regulation by an entity," the RBI added.

    Further, a deposit-taking NBFC-ICC shall invest in unquoted shares of another company which is not a subsidiary company or a company in the same group of the NBFC, an amount not exceeding 20% of its owned fund, the central bank said.

    GoodReturns.in

    Read more about: rbi nbfc
    Story first published: Monday, February 25, 2019, 10:52 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more