State to whom the provisions of Non-Banking Financial Company-Systemically Important Non-Deposit Taking Company and Deposit Taking Company (Reserve Bank) Directions, 2016 shall apply?
CS Executive · Economic, Business and Commercial Laws · PYQS · December 2018
State to whom the provisions of Non-Banking Financial Company-Systemically Important Non-Deposit Taking Company and Deposit Taking Company (Reserve Bank) Directions, 2016 shall apply?
Answer & Explanation:
The provisions of Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 shall apply to the following: Every Systemically Important Non-Deposit taking Non-Banking Financial Company (NBFC-ND-SI) registered with the Reserve Bank under the provisions of RBI Act, 1934; Every Deposit taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank under the provisions of RBI Act, 1934; Every NBFC-Factor registered with the Bank under section 3 of the Factoring Regulation Act, 2011 and having an asset size of ₹500 crore and above; Every Infrastructure Debt Fund - Non-Banking Finance Company (IDF-NBFC) registered with the Reserve Bank under the provisions of RBI Act, 1934; Every Non-Banking Finance Company - Micro Finance Institutions (NBFC-MFIs) registered with the Reserve Bank under the provisions of RBI Act, 1934 and having an asset size of ₹500 crore and above; Every Non-Banking Finance Company - Infrastructure Finance Company (NBFC-IFC) registered with the Reserve Bank under the provisions of RBI Act, 1934 and having an asset size of ₹500 crore and above.
Topics: Non-Banking Financial Company (NBFC)
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