2022
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5
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20
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15
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10
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Detailed explanation-1: -CFSS is intended to provide seamless customer interactions with NBFC’s digital offerings and transactions. The adoption of CFSS to render centralised accounting records and databases enables NBFCs to handle many customers easily.
Detailed explanation-2: -What are the entry point norms for NBFC-Factor? Ans, Every company registered under Section 3 of the Companies Act 1956 seeking registration as NBFC-Factor shall have a minimum Net Owned Fund (NOF) of Rs. 5 crore.
Detailed explanation-3: -Coming to the minimum capital requirement for NBFCs, the Reserve Bank has provided that such entities are mandated to maintain minimum Net Owned Funds of INR 2 crores. The RBI Act was amended in the year 1997, facilitating the mini. capital threshold as Rs 25 lakhs.
Detailed explanation-4: -100 % FDI in Automatic Route in NBFC The new norm states 100 % FDI through the Automatic route for NBFC, under the Section 47 of the FEMA Act. Investment in the automatic route was limited to the 18 specified NBFC activities.