Jun 01, 2018

Reserve Bank of India (RBI) vide notification dated May 31, 2018 has updated the Master Direction on Exemption from the Provisions of the RBI Act, 1934

Para 3 has been updated as following-

“Government Companies i.e. a non-banking financial company as defined in section 45-I(f) of the RBI Act being a Government company as defined in Clause (45) of Section 2 of Companies Act, 2013, is valid for the phased- in period as under:

Section 45 IB

Maintenance of percentage of assets – 15% of the outstanding deposits

March 31, 2019– 5% of outstanding deposits
March 31, 2020 – 10% of outstanding deposits
March 31, 2021 – 12% of outstanding deposits
March 31, 2022 – 15% of outstanding deposits

Section 45 IC

Reserve Fund

March 31, 2019”

 [Note- Applicable only to Government NBFC. Ignore if not related to you]

[RBI/2017-18/181 DNBR (PD) CC.No.092/03.10.001/2017-18]


URL: https://rbidocs.rbi.org.in/rdocs/notification/PDFs/NOTI1812D1707B39AEE4B3783B62145AD44784C.PDF

Related Updates

Alternate Text

Get updates on the go on RuleZbook Mobile App.