BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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MFI
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SEBI
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RBI
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None of the above
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Detailed explanation-1: -2. The Reserve Bank had issued the Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs (the framework) on October 22, 2021. The framework categorises NBFCs in Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL).
Detailed explanation-2: -A Core Investment Company (CIC) is a Non-Banking Financial Company (NBFC) which carries on the business of acquisition of shares and securities and holds not less than 90% of its net assets in the form of investment in equity shares, preference shares, bonds, debentures, debt or loans in group companies.
Detailed explanation-3: -CIC is defined as a Company where: not less than 90% of its assets are in investments in shares, debt, loans in group companies for the purpose of holding stake in the investee companies. Atleast 60% of its net assets is in form in equity of group companies.
Detailed explanation-4: -All Scheduled Commercial Banks, Non-Banking Financial Companies (NBFCs), and Payment Banks are regulated by the Reserve Bank of India.