Finance
Big GuyRBI Says No Registration Needed for Some NBFCs, Cool!
Hey there! So, the RBI just dropped some news on Tuesday: if you're an NBFC without public funds and customers, and your assets are under 1,000 crore, you can skip the registration hassle! They’re calling you 'Unregistered Type I NBFCs.' But if you're a big shot with more than that, better get registered, my friend! Just pop over to the 'PRAVAAH' portal and show 'em what you got!
few days ago | BS Reporter
Quick rundown
1.RBI proposes exemptions for certain NBFCs from registration.
2.NBFCs with assets under Rs 1,000 crore may be exempted.
3.Six-month timeline for deregistration applications.
4.PRAVAAH portal to be used for deregistration requests.
5.Type I NBFCs with Rs 1,000 crore assets must register.
