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15 Considerable points related to "NBFC":-
1.NBFC is engaged in the business of loans and advances, acquisition of shares/stocks / bonds /debentures /securities issued by the government, insurance business, chit business, and other Specified Activities.
2.NBFC must create a reserve in which minimum 20% of its net profit must be transferred before the declaration of any dividend to its members.
3.100% FDI is allowed in NBFC sector.
4.NBFC does not accept Demand Deposits.
5.NBFC does not have a Bank license.
6.NBFC does not maintain SLR and CRR (Ratios).
7.NBFC does not Involve in Creation of Credit.
8.NBFC does not provide Overdraft Facility.
9.NBFC can be an Asset Finance Company or Loan Company or Investment Company.
10.NBFC should be incorporated under Companies Act, 2013 or any previous company law.
11.In addition, it is necessary to get approval from RBI.
12.In few circumstance , NBFC is required to be registered under SEBI.
13.No Ombudsman can Complain Against NBFC. (Court Route is available).
14.NBFCs cannot have Deposit Insurance Scheme.
15.NBFCs cannot offer gifts / Incentives to the depositors. |
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