Wednesday, June 15, 2011

NBFC GROUP COs CAN ONLY BUY UP TO 50% IN AN INSURER

The Reserve Bank of India (RBI) has clarified that Non-Banking Finance Companies (NBFC) group can pick up a maximum of 50% stake in an insurance company. Reserve Bank of India (RBI) also said that in case of more than one company in the same group wishes to pick up stake in the insurance company, the contribution by all companies in the same group will be counted for the limit of 50%.

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