GOLD LOAN

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 March 2011 A public limited company wants start the lending against gold. whether it would come under NBFC. company is not accepting and deposit from the public

Abhishek

Abhishek (Expert)
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15 March 2011 Yes it would be a non-deposit accepting NBFC.. However, for it to be an NBFC it has to fulfill the following conditions:

NBFC if financial assets are > 50% of its total assets (netted off intangible assets) and income from financial assets are greater than 50% of the gross income as per the latest audited balance sheet.