Applicability of NBFCs-ND-SI regulations - RBI - Reserve Bank of India
Applicability of NBFCs-ND-SI regulations
RBI/2008-09/491 June 4, 2009 All Non-Deposit taking Non-Banking Finance Companies Dear Sirs, Applicability of NBFCs-ND-SI regulations In terms of circular DNBS (RID) C.C. No. 57/02.05.15/2005-06 dated September 6, 2005, all NBFCs with assets size of Rs 100 crore and above, and not accepting / holding public deposits were required to submit a Monthly Return on Important Financial Parameters to the Regional Office under whose jurisdiction the company is located.Further, in terms of "Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007" as amended from time to time, systemically important non-deposit taking non-banking financial companies are required to comply with, inter alia,capital adequacy, credit concentration and disclosure norms along with reporting requirements. ‘Systemically important non-deposit taking non-banking financial company'(NBFC-ND-SI) as defined in Para 2(xix) of the said Directions means a non banking financial company not accepting/holding public deposits and having total assets of Rs 100 crore and above as shown in the last audited balance sheet.
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