Non Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) – Directions – Modifications
Reserve Bank of India
Download Document| Date Published | 2012 |
| Version | |
| Primary Author | Reserve Bank of India |
| Other Authors | |
| Theme | |
| Country | India |
Abstract
Please refer to the Directions issued vide RBI(PD)CC.250 dated December 02, 2011 wherein a new category of NBFCs, viz., Non Banking Financial Company-Micro Finance Institution (NBFC-MFI) was created along with a regulatory framework governing the same. The Bank has been receiving representations from NBFCs that are primarily into micro financing, conveying difficulties in complying with the framework. In the light of this, it has been decided to make certain modifications in the Directions issued on December 02, 2011. The modifications are under the following sub-heads.