BackRBI temporarily suspends NBFC registrations
RBI examines suggestions of the Nachiket Mor committee on financial services for small businesses and low-income households
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Mumbai: The Reserve Bank of India (RBI) will stop registering new non-banking financial companies (NBFCs) for one year as it examines suggestions of the Nachiket Mor committee on financial services for small businesses and low-income households, the central bank said in its monetary policy announcement.
“These recommendations are being examined by the bank. Several changes to the regulatory and supervisory framework for NBFCs may be called for. Putting in place the required mechanisms is likely to take some time," RBI said.
However, applications for registration received on or before 31 March will be duly considered, it said.
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