Asset finance companies stage debut

ysical assets supporting economic activity and income arising therefrom is not less than 60 per cent of its total assets and total income respectively.  The exposure norms as regards restriction on investments in land and buildings and unquoted shares shall be modified to make provisions applicable to equipment leasing and hire purchase companies applicable to AFCs.  NBFCs engaged in financing tangible assets are required to submit auditors certificate indicating the asset and income pattern of the company as on March 31, 2006 was according to the requirements for recognition as AFCs.