Public fund as per rbi master guidelines dated 01.09.2016


Pawan Mittal (CA Final)     14 July 2018

Pawan Mittal
CA Final 
 22 likes  678 points

| My Other Post

  1. Will  ‘loan from own shareholders taken by a private limited nbfc’  come under the definition of Public Fund as per RBI Circular dated 01.09.2016 vide chapter II point 3 (xxv)., AS deposit/loan from own shareholders is not regarded “Public Deposit”.

 

  1. Will ‘Overdraft against own Bank FDR taken by a private limited nbfc’   come under the definition of Public Fund/Bank finance as per RBI Circular dated 01.09.2016, whereas as per RBI circular Bank FDR is not considered as Financial Assets as per Rbi circular RBI/2011-12/446 DNBS (PD)CC.No.259 /03.02.59/2011-12 dated March 15, 2012 , As this Overdraft  is only against NBFC’s own fund. If there is no FDR, there will be no overdraft, means no real Bank Finance.

 

  1. Will loan from ‘Holding private limited NBFC’ to its ‘associate private limited NBFC’ and vice versa come under ‘inter corporate deposit’ under Public Fund as per RBI Circular dated 01.09.2016, as in real sense there is no outside Public Fund is involved.


Attached File : 869303 20180714190405 md44nsind2e non banking financial company non systemically 01092016.pdf downloaded: 45 times



Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »