BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A minimum of 75 per cent of the total assets of an IFC-NBFC should be deployed in infrastructure loans
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The company should have minimum net-worth of Rs 300 crore
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The CRAR of of the company should be at 15% with Tier I capital at 10%
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All of the above
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Detailed explanation-1: -The company should have minimum net-worth of Rs 300 crore, The CRAR of of the company should be at 15% with Tier I capital at 10% and. The minimum credit rating of the company should be at ‘A’ or equivalent of CRISIL, FITCH, CARE, ICRA, BRICKWORK or equivalent rating by any other accrediting rating agencies.
Detailed explanation-2: -Financial activity as principal business is when a company’s financial assets constitute more than 50 per cent of the total assets and income from financial assets constitute more than 50 per cent of the gross income. A company which fulfils both these criteria will be registered as NBFC by RBI.
Detailed explanation-3: -All the NBFCs are required to seek Registration with RBI irrespective of whether they accept public deposits or not.
Detailed explanation-4: -Every company seeking registration as NBFC-Factor shall have a minimum Net Owned Fund (NOF) of ₹5 crore, or as specified by the Reserve Bank from time to time.