A group should mean here entities either have common control, or common significant influence, or those where persons have been disclosed as acting in concert for holding shares in the NBFC. The following is a question from the RBI’s FAQs relating to intra-group transfers. It is difficult ...
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(nbfc), microfinance institutions (mfi) and local area banks (lab) can apply to become small finance banks. they can be promoted either by individuals, corporate, trusts or societies. they are established as public limited companies in the private sector under the companies act, 2013. they ...
systematically important NBFCs, all with Net-worth of Rs 500 crore or more. The Norms mandate that for companies engaged in IT related activities, at least 25% of the pre issue capital should be held by QIBs, while for others, at least 50% of their pre issue capital is held by QIBs...
7. Axis Bank has completed acquisition of Citibank’s India Consumer Business and NBFC Consumer Business. The cash consideration for the acquisition stands at ₹11,603 cr. Axis Bankhas acquired 18 lakh credit customers and wealth management business worth ₹94,700 crore. ...
I was planning to do a further detailed writeup on this. But I came across a very useful twitter thread by Manoj Nagpal (link). Since it had a list of Q&As, I decided not to reinvent the wheel and took permission from Manoj to replicate his FAQs here. ...