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
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.
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.
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