Functions of an NBFC NBFCs promote economic growth in the country by catering to sections of the society not served by traditional banks. These may be high-risk industries or individuals like low-income farmers or MSMEs. Here is a list of the functions of an NBFC: ...
The NBFCs are allowed to take the public deposits for a minimum period of 12 months and the maximum period of 60 months. These companies are not allowed to accept deposits, which are repayable on demand. The NBFCs cannot offer the interest rate higher than the ceiling rate as prescribed by...
Therefore, in the present context, a wider meaning should be ascribed to expression parties to the contract that are an integral part of the effective interest; and subvention received from third parties should also be considered for the purpose of determining the effective interest rate and the ...
In other words, the RBI is creating a new category of NBFCs that will be subject to stricter regulations and supervision. This is because these NBFCs are considered systemically important, meaning that their failure could significantly impact the financial system. ...
All other non-permissive additional terms are considered “further restrictions” within the meaning of section 10. If the Program as you received it, or any part of it, contains a notice stating that it is governed by this License along with a term that is a further restriction, you may ...