NBFC – Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 – Amendment in paragraph 16
Notification No. DNBS.224/CGM(US)-2011, Dated 17-2-2011
The Reserve Bank of India, having considered it necessary in public interest and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, contained in Notification No. DNBS. 192/DG(VL)-2007, dated February 22, 2007, in exercise of the powers conferred by section 45JA of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powers enabling it in this behalf, hereby directs that the said Directions shall be amended with immediate effect as follows, namely —
Amendment of paragraph 16 —
In sub-paragraph (1) of paragraph 16, the following sentence shall be inserted at the end of the sub-paragraph –
“[Such ratio shall not be less than fifteen per cent by March 31, 2012.]”
