For voluntary exit from NBFC business
Roselabs Finance announced that the Company has received a letter from RBI suggesting that the Company may apply to RBI for voluntary exit from NBFC business by submitting/surrendering all relevant documents including Certificate of Registration issued by RBI, on account of non-satisfaction of the following requirements of RBI as on 31 March 2016 as are applicable to NBFC;1. Minimum Net Owned Fund of Rs. 1 crore
2. Maximum leverage of 7 times
3. Financial assets of more than 50%
The Company is in discussion with RBI in this regard.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app