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.
Mcap of 8 of top-10 firms erodes by Rs 1.55L cr
Recently, the market witnessed a downturn, with eight of the leading firms in India suffering major valuation losses. The declines of HDFC Bank and Bajaj