Economy

Set up a strong regulatory framework for the non-banking financial companies(NBFCs) to protect the investors

Adequate Progress

The RBI issued its revised Regulatory Framework for NBFCs in November, 2014, which was notified in March, 2015. It included recommendations of the Usha Thorat Committee and Nachiket Mor Committee.
It tightened rules regarding minimum net owned funds, deposit acceptance ratio, asset classification rules, credit ratings, capital norms, time- limit for declaring bad loans, etc. These measures are aimed at strengthening the NBFC sector structurally and safeguard the interest of the customers and investors.

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