Appointment of Non-Deposit Accepting NBFCs with asset size of Rs.100 crore and above as sub- agents under Money Transfer Service Schemes (MTSS) - ஆர்பிஐ - Reserve Bank of India
Appointment of Non-Deposit Accepting NBFCs with asset size of Rs.100 crore and above as sub- agents under Money Transfer Service Schemes (MTSS)
RBI/2014-15/648 June 25, 2015 To Dear Sirs, Appointment of Non-Deposit Accepting NBFCs with asset size of Rs.100 crore Please refer to circular DNBS.CC.PD.No.405/03.10.01/2014-15 dated August 12, 2014 on the captioned subject. The circular has been reviewed in the light of certain representations received by the Reserve Bank, and it has been decided, in supersession of the existing instructions, to allow all non-deposit taking NBFCs to act as sub-agents under MTSS without any prior approval of RBI. Deposit accepting NBFCs are however, not permitted to undertake such activity. Yours faithfully (C.D. Srinivasan) |