Factoring Services made an entry into the Indian Market back in 1987, with the recommendations of the 'Vaghul Committee'. Later, in 1988, the Kalyanasundaram Committee laid emphasis on setting up independent agencies to

Factoring Services made an entry into the Indian Market back in 1987, with the recommendations of the 'Vaghul Committee'. Later, in 1988, the Kalyanasundaram Committee laid emphasis on setting up independent agencies to provide factoring services. Eventually, the Factoring Regulation Act, 2011 ('Principal Act') was enacted to provide for "Regulating" the assignment of receivables to factors, making provisions for registration for carrying out factoring business, and the rights and obligations of the parties to the factoring contract. On 14th January, 2022, the Reserve Bank of India ('RBI') Notified the Registration of Factors (Reserve Bank) Regulations, 2022 ('Registration Regulations') laying down the manner of granting Certificate of Registration ('CoR') to Companies which propose to do factoring business. Based on the above information, answer the following questions: Is it necessary for NBFC-Factors to register every factoring transaction with the Central Registry ?