The RBI has amended the Notification No. DNBS.138/CGM (VSNM)-2000 dated 13-01-2000 whereby it has specified that NBFCs having an asset size of less than Rs. 100 Crores have been prohibited from commencing or carrying on the business of non-banking services. Further, the registration of NBFCs with the RBI is not required in case NBFCs is licensed under section 25 of the Companies Act, 1956 or Section 8 of the Companies Act, 2013.The RBI has amended the Notification No. DNBS.138/CGM (VSNM)-2000 dated 13-01-2000 whereby it has specified that NBFCs having an asset size of less than Rs. 100 Crores have been prohibited from commencing or carrying on the business of non-banking services. Further, the registration of NBFCs with the RBI is not required in case NBFCs is licensed under section 25 of the Companies Act, 1956 or Section 8 of the Companies Act, 2013.taxmann.com Latest Statutory HappeningsRead More
