Which of the following is not true regarding a

Solution

An NBFC-Infrastructure Finance Company (NBFC-IFC) is a non-deposit taking NBFC which has a minimum of 75% of its total assets deployed towards infrastructure lending . For this purpose, the term ‘infrastructure lending’ means a credit facility extended by an NBFC to a borrower, by way of term loan, project loan subscription to bonds/ debentures/ preference shares/ equity shares in a project company acquired as a part of the project finance package such that subscription amount to be “in the nature of advance” or any other form of long term funded facility for exposure in the infrastructure sub-sectors as notified by the Department of Economic Affairs, Ministry of Finance, Government of India, from time to time. NBFC-IFCs can also lend to/ invest in InvITs subject to adherence to applicable regulatory guidelines including exposure norms applicable to them. There is no requirement of the type of funding or stage of project to be funded by NBFC-IFC. The NBFC-IFC must have a minimum Net Owned Funds of Rs.300 crore. It must also be rated with a minimum credit rating of ‘A ‘or equivalent   and must maintain minimum CRAR of 15%.