📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Any existing NBFC-ICC (Investment Credit Company) ,

      intending to undertake factoring business, shall make an application to the Reserve Bank for grant of CoR under the Act and needs to have total assets of ₹…………………….. and above, as per the last audited balance sheet to fulfill the eligibility requirements
      A 500 crores Correct Answer Incorrect Answer
      B 750 crores Correct Answer Incorrect Answer
      C 1000 crores Correct Answer Incorrect Answer
      D 2000 crores Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Any existing NBFC-ICC, intending to undertake factoring business, shall make an application to the Reserve Bank for grant of CoR (Certificate of registration) under the Act if it satisfies the following eligibility criteria: (a)  not accepting or holding public deposits; (b)  total assets of ₹1,000 crore and above, as per the last audited balance sheet; (c)  meeting the NOF (Net owned Fund) requirement as prescribed in regulation 3 of these regulations; (d)  regulatory compliance.

      Practice Next
      More NBFC Questions

      Relevant for Exams:

      ask-question