Compulsory Compliance for NBFC companies

Rajeev Chaturvedi (Querist) 12 February 2009 This query is : Resolved
dear all
pls provide me common compulsory compliance for NBFC Companies after registration with RBI

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Manish Singh (Expert) 12 February 2009
Under Section 45 I(a) of the RBI Act, an NBFC should register with it and have a minimum net-owned fund (NOF) of Rs 2 crore. NOF is a computed difference between the aggregate (specified) investments and the aggregate of paid-up equity capital and free reserves after certain deductions.

Rajeev Chaturvedi (Querist) 12 February 2009
i am asking after registration

Manish Singh (Expert) 12 February 2009
whether it accepts public deposit or not?

Manish Singh (Expert) 12 February 2009
Reserve Bank of India has been regulating the financial activities of the Non-Banking Financial Companies under the provisions of Chapter III B of the Reserve Bank of India Act, 1934.
to get details please go through Master Circular –“Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 1977” RBI/2008-09/8 DNBS (PD) CC No.122/03. 02.001/2008-09

Rajeev Chaturvedi (Querist) 13 February 2009
thanks i will see that circular if any querry i will askt

A. A. JOSE (Expert) 20 February 2009
I concur with Mr.Manish.

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