BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 7 crore
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Rs 10 crore
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Rs 2 crore
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Rs 5 crore
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Detailed explanation-1: -Regulatory minimum Net Owned Fund (NOF) for NBFC-ICC, NBFCMFI and NBFC-Factors is increased to INR 10 crore. A glide path is provided for the existing NBFCs to achieve the NOF of INR 10 crore by 31st March 2027.
Detailed explanation-2: -A company should first be registered under the Companies Act 2013 or should already be registered under the Companies Act 1956 as either a Private Limited or a Public Limited Company. The minimum net owned funds of the Company should be Rs. 2 Crore. 1/3rd of the Directors must possess finance experience.
Detailed explanation-3: -A NBFC COMPANY? 16 February 2009 Share capital + share preium + reserves and surplus-Accumulated losses will give you net owned funds . 17 February 2009 there is a specific format given by RBI for calculation of NOF for NBFCs.
Detailed explanation-4: -8.1 Under the earlier qualifying assets criteria 1, a Non-banking Financial Company-Microfinance Institution (NBFC-MFI) is required to have minimum 85 per cent of its net assets 2 as ‘qualifying assets’.