NBFCs eyeing entry into banking have to follow tight regulations
Sun, Nov 28, 2021 10:09 AM

NBFCs eyeing entry into banking have to follow tight regulations

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The 21 out of 33 recommendations on ownership guidelines and corporate structure of private sector banks has been accepted by Reserve Bank of India on Nov 26. For non-banking financial companies (NBFCs) eyeing to convert into a universal bank, minimum requirement on the track record of the experience of promoting entity, may continue for 10 years for universal banks.

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Upcoming budget could consider levying TDS/TCS on crypto trading

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