RBI invites applications for recognition of SROs for NBFCs, with a mandatory minimum net worth of Rs 2 crore within a year.
The Reserve Bank of India (RBI) is inviting applications for the recognition of Self-Regulatory Organizations (SROs) for Non-Banking Financial Companies (NBFCs), including categories like Investment Credit Companies (NBFC-ICCs), Housing Finance Companies (HFCs), and Factors (NBFC-Factors). RBI plans to recognize a maximum of two SROs. Recognized SROs must achieve a minimum net worth of Rs 2 crore within a year after recognition or before commencement of operations. If an SRO fails to meet the membership target within two years, its recognition may be revoked.
June 19, 2024
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