IST,
Content Type:
All you wanted to know about NBFCs
H. Other/ miscellaneous aspects
The NBFCs being amalgamated will require to obtain prior written approval of the Reserve Bank. Depending upon the nature of amalgamation/merger proposal, requisite approvals as per regulations needs to be sought.
Yes, prior approval of the Reserve Bank would have to be obtained before approaching any Court or Tribunal seeking orders for merger/ amalgamation in all such cases which would ordinarily fall under the scenarios explained in FAQs 84, 85 or 86.
Disclaimer: These FAQs are issued by the Reserve Bank for information and general guidance purposes only. The Reserve Bank will not be held responsible for actions taken and/or decisions made on the basis of the same. For clarifications or interpretations, if any, one may be guided by the relevant circulars and notifications issued from time to time.
| Related Press Release | |
| May 31, 2013 | Check before Depositing Money with Financial Entities: RBI Advisory |
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