Non deposit taking NBFCs will continue to be under RBI purview says central bank in draft norms

The Reserve Bank of India has clarified new rules for non-banking finance companies. Certain NBFCs with assets under Rs 1000 crore and no customer interaction can seek exemption from registration. However, these firms remain subject to other RBI regulations. Loans from directors or shareholders will be considered public funds. Activities like mutual fund distribution also disqualify them from this exemption.

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