Case Brief
RBI announced a one-year keep-in-abeyance on issuing Certificates of Registration (COR) to companies proposing to conduct business of NBFI under Section 45IA of the RBI Act, 1934. The move was taken in public interest while the regulator reviewed the NBFC framework after recommendations from the Nachiket Mor Committee. Applications received on or before March 31, 2014 were to be processed normally, and the suspension did not apply to certain prospective entities such as CIC-NDSIs, IFCs, IDF-NBFCs and NBFC-MFIs.
Action Snapshot
- Primary Impact
- License suspension
- Entity Type
- NBFC
- Action Type
- License suspension