BANKING GENERAL KNOWLEDGE
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Question
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Detailed explanation-1: -NBFC-Factor means a non-banking financial company fulfilling the Principal business criteria i.e. whose financial assets in the factoring business constitute at least 75 percent of its total assets and income derived from factoring business is not less than 75 percent of its gross income, has Net Owned Funds of Rs.
Detailed explanation-2: -The capital adequacy ratio of the sample NBFCs in September 2022 stood at 26.0 per cent and the GNPA ratio at 4.0 per cent.
Detailed explanation-3: -NBFCs are incorporated under the Companies Act, 1956. NBFCs can be classified into two broad categories, viz., (i) NBFCs accepting public deposit (NBFCs-D) and (ii) NBFCs not accepting/holding public deposit (NBFCs-ND).
Detailed explanation-4: -As per the extant regulations, every NBFC is required to maintain a minimum capital ratio of 15 per cent of its aggregate risk-weighted assets (including both on and off-balance sheet items). To further strengthen their capital position, the PCA framework for NBFCs will be made effective from October 1, 2022.