RBI Updates Master Direction on Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016

Reserve Bank of India (RBI) vide notification dated May 31, 2018 has updated Non –Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016.

Clause (vi) of Para 2 has been updated which reads as –

Directions shall apply to an NBFC being a Government Company as defined in section 2(45) of the Companies Act, 2013. The directions relating to prudential regulation, acceptance of public deposits, corporate governance, conduct of business regulations and statutory provisions etc. shall, however, be followed by the government NBFCs asper the timeline provided in Annex I. Government NBFCs that are already complying with the prudential regulation as per the road map submitted by them shall continue to follow the same.”

[Note: -Applicable only to Government NBFC please ignore if not related 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