Crisis in NBFC’s
- Credit disbursals by non-banking finance companies (NBFCs) have plunged by a third in the year in March 2019, after they were gripped by the liquidity squeeze that followed the unexpected default by Infrastructure Leasing & Financial Services (IL&FS) in September 2018.
- Regulation of NBFC’s: In the Union Budget for FY 2019-20, the Finance Minister announced that RBI will get greater powers to regulate NBFCs. First, the earlier limit for registering NBFCs with RBI extended to those who had net owned funds of Rs 25 lakhs to Rs 2 crore. The upper limit has been increased to Rs 100 crore. New sections ....
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