Overview
Test Series
NBFC stands for Non-Banking Financial Companies . These are financial institutions that offer a range of financial services without having to hold a banking license or meet the legal definition of a bank. NBFCs are registered under the Companies Act, 1956 and operate as non-banking financial institutions as defined under Section 45-IA of the RBI Act, 1934.
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A company registered under the Companies Act, 1956 and intending to operate a non-banking financial business, as defined in Section 45 IA of the RBI Act, 1934, must meet the following criteria:
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