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Micro Finance Institutions & Non- Banking Financial Companies NBFCS Part 2
What is the primary regulatory authority for Non-Banking Financial Companies (NBFCs) in India?
The Reserve Bank of India (RBI) is the primary regulatory authority for NBFCs under the Reserve Bank of India Act, 1934.
What is the maximum loan amount for a microfinance borrower in rural areas as per RBI guidelines?
Up to Rs. 1.25 lakh for rural borrowers per RBI norms.
What is the minimum Net Owned Fund (NOF) requirement for an NBFC to register with RBI?
An NBFC must have a minimum Net Owned Fund of Rs. 10 crore to register with the RBI, as per the revised guidelines effective October 2022.
What is the maximum loan amount permitted for microfinance borrowers in urban or semi-urban areas?
Up to Rs. 2 lakh for urban and semi-urban microfinance borrowers.
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