Finance
DoggfatherRBI's Smooth Move: NBFCs Can Chill Without Registration, Fo' Shizzle!
Yo, listen up! The RBI just laid down some smooth draft directions for them NBFCs chillin' without public funds or customers, keepin' it under that cool Rs 1,000 crore. They callin' 'em Unregistered Type I NBFCs, and they got six months to get their deregistration hustle on through the PRAVAAH portal, or else they better step up their game, G!
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.
