Supreme Court: Driving Licence Renewal After a Gap Will Not Take Effect From Expiry Date || Supreme Court: High Courts Cannot Quash Cheque Bounce Cases by Pre-Trial Inquiry Into Liability || Supreme Court: Passport Renewal Cannot be Denied if Trial Court Has Permitted it Despite Pending Case || SC: Delay in Depositing Sale Balance Does not Make Specific Performance Decree Inexecutable || Supreme Court: Non-Compete Fees Qualify as Deductible Revenue Expenditure under Income Tax Act || Supreme Court: Section 311 CrPC Should be Invoked Sparingly, Only When Evidence is Vital || J&K&L High Court: Successive Bail Applications Can Be Filed Even Without Change in Circumstances || Kerala HC: Fresh Arbitration Notice is Required For Second Arbitration After Prior Award Set Aside || NCLT Hyderabad: Mortgaging Property Without Lending Money Does Not Constitute Financial Debt || Supreme Court: Vacancies From Resignations under CUSAT Act Must Follow Communal Rotation

Registering NBFCs to become simpler- (Reserve Bank of India) (17 Jun 2016)

Banking

The Reserve Bank of India resolved to simplify and rationalise the process of registration of new Non-Banking Financial Companies.

It announced that down from an earlier 45 documents to be submitted, 8 documents will suffice - though the Bank may call for additional documents as it deems fit.

The process has been bifurcated depending on whether the NBFC seeks to harness public funds and has or intends to have a customer interface. NBFCs avoiding contact with the public will be able to avail of the ‘fast track mode’, and be subject to less intensive scrutiny.

Tags : NBFC REGISTRATION SIMPLIFIED PROCESS PUBLIC FUNDS

Share :