Withdrawal of Exemptions Granted to Government Owned NBFC’s

The Government-owned companies, as defined under Clause (45) of Section 2 of the Companies Act, 2013 (Section 617 of the Companies Act, 1956) and registered with the Reserve Bank of India as NBFCs, are currently exempt from following regulatory and statutory provisions: (i) Sections 45-IB and 45-IC of the RBI Act, 1934. (ii) Master Direction – Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 and Master Direction – Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 (except provisions contained in paragraph 23 of these Directions). (iii) Master Direction – Non-Banking...

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