To be regarded as an NBFC, a company must be registered in accordance with the Companies Act 2013's laws, regulations, and restrictions.
An NBFC's minimum fund holdings should be at least Rs.2 crores, and this money should not be borrowed. (In other circumstances, such as specialized NBFCs: “NBFC-MFIs, NBFC Factors, CICs, as determined by the kind of NBFC”), this restriction is different. Owned funds include any gift from a spouse.
At least one-third of the board of directors must have financial experience.
A clear plan for the following five years is also required.
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