Tuesday, July 24, 2012

NBFC- Factor a new category introduced by RBI



Reserve Bank of India(RBI) introduces a new category of NBFC,  NBFC-Factor which will buy receivables of other financial institutions at a discounted price. According to RBI companies seeking registration under NBFC- Factor should have a minimum Net Owned Fund(NOF) of Rs. 5 Cr. But existing firms in this field will be given time to comply with the stipulated guidelines. 

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