Nbfc


 

 

1)      A Public Limited  Government Company incorporated u/s  617 of the Companies Act, 1956 is  engaged  the development of  Urban infrastructure.   It is the  Nodal Agency of the State Government  for this purpose.  

 

 

2)       The State Government and Central Government  release Funds to the Company in the form of  Loans/ Grants which the   Company    disburses  as Loans/ Grants  to  the Urban Local Bodies., viz.,  City Corporations,  Town Municipalities, .  Village panchayats,   Notified Government  Agencies  etc.,  for development  urban infrastructure in their  jurisdictional  geographies.

                                                                                                                     

3)      This  activity is  permitted by the Company’s  Memorandum of Association.   

 

4)  Does  this activity of the Company  i.e,   Giving of  Loans/Advances/ Grants as th Nodal Agency of the  Government   for the above said purpose come  under the  regulatory framework  as  applicable to   NBFCs?

5)     If so, does this require registration with RBI as  NBFC? 

 
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