Rbi gets more powers over nbfcs


P C Agrawal (Vice President (Corporate))     11 August 2019

P C Agrawal
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Amendments to RBI Act made vide Part-I of Chapter-VI of Finance (No.2) Act 2019 have come into force on 9.8.2019.

Now RBI has got lot of powers over functioning of NBFCs. Minimum net owned fund can be raised upto Rs.100 crores. Directors can be removed or superseded by RBI. Auditors can be removed or debarred for 3 years. Scheme for amalgamation/ reconstruction etc. can be approved. Submission of information of group companies can be mandated. Amount of penalties increased. 

 

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Vishesh Surana   11 August 2019

Vishesh Surana

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thanks for the info

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subhagan sreerangam   11 August 2019

subhagan sreerangam

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good clarification and information

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Shivam RC (Student)     11 August 2019

Shivam RC
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Thank You for the information...👍👍👍

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subhagan sreerangam   12 August 2019

subhagan sreerangam

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good clarification and information

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Shivam RC (Student)     12 August 2019

Shivam RC
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Subhagan Sreerangam Sir Stop posting good clarification and information...


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