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Non Banking Financial Companies
What is the primary legislation governing Non-Banking Financial Companies in India?
NBFCs are primarily governed by the Reserve Bank of India Act, 1934, specifically Chapter III-B, which empowers RBI to regulate their deposit-taking and financial activities.
What is the minimum asset size threshold for classifying an NBFC as systemically important (NBFC-ND-SI)?
Rs. 500 crore net assets marks NBFC-ND-SI threshold.
What minimum Net Owned Fund is required for an NBFC to register with RBI?
An NBFC must have a minimum Net Owned Fund (NOF) of Rs. 10 crore to obtain a Certificate of Registration from RBI, as per revised guidelines effective October 2022.
What does the acronym 'NBFC-D' stand for in RBI's regulatory classification?
NBFC-D stands for Non-Banking Financial Company accepting Deposits.
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