PRIOR APPROVAL OF RBI IN CASES OF ACQUISITION / TRANSFER OF CONTROL OF NBFCs ACCEPTING DEPOSITS

To enable RBI to verify that the 'fit and proper' character of the management of NBFCs is continuously maintained, it has been decided that any take over / acquisition of shares of a deposit taking NBFC or merger/amalgamation of a deposit taking NBFC with another entity or any merger/
amalgamation of an entity with a deposit accepting NBFC that would give the acquirer / another entity control of the deposit accepting NBFC, would require prior permission of RBI.