BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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CICs with assets above Rs. 10 crore
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CICs with assets above Rs. 100 crore
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CICs with assets above Rs. 200 crore
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None of the above
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Detailed explanation-1: -Ans: CICs having asset size of below Rs 100 crore are exempted from registration and regulation from the Reserve Bank, except if they wish to make overseas investments in the financial sector.
Detailed explanation-2: -NBFCs Which Need Not be Registered With RBI Core Investment Companies – (assets are less than 100 crore or public funds not taken) Merchant Banking Companies. Companies that are engaged in the business of stock-broking. Housing Finance Companies.
Detailed explanation-3: -All CICs with public funds and asset size of ₹ 100 crore and above may continue to be registered with RBI. CICs without access to public fund need not register with the Reserve Bank.
Detailed explanation-4: -PACS are outside the purview of the Banking Regulation Act, 1949 and hence not regulated by the Reserve Bank of India. StCBs/DCCBs are registered under the provisions of State Cooperative Societies Act of the State concerned and are regulated by the Reserve Bank.