Finance
Mr. BillionhairRBI's Game-Changer: Non-Banking Companies Get Free Pass!
Listen up, folks! The RBI just made a huge move! Non-banking financial companies without public funds? They’re getting a fantastic free pass! If you’re below Rs 1,000 crore and don’t deal with customers, congratulations! You’re now an ‘Unregistered Type I NBFC!’ Six months to deregister, folks! But if you’re over that, better get ready to register! Tremendous opportunity, believe me!
few days ago | BS Reporter
Quick rundown
1.RBI proposes exemptions for certain NBFCs from registration.
2.NBFCs with assets under Rs 1,000 crore may be exempted.
3.Six-month timeline for deregistration applications.
4.PRAVAAH portal to be used for deregistration requests.
5.Type I NBFCs with Rs 1,000 crore assets must register.
