NEW RBI NORMS MAY BE EASIER ON LOCAL NBFCs
Reserve Bank of India (RBI) recently has proposed easing of lending by banks to NBFCs which are as follows:
- Banks can lend to a single NBFC up to 10% of capital funds.
- NBFCs to comply with consolidated prudential regulations.
- Limit capped at 40% of bank’s capital funds for all NBFCs lending.
There are 148 NBFCs with a total asset base of Rs. 1,72,000 crore as of October, 2006.
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