For voluntary exit from NBFC business
Roselabs Finance announced that the Company has received a letter from RBI suggesting that the Company may apply to RBI for voluntary exit from NBFC business by submitting/surrendering all relevant documents including Certificate of Registration issued by RBI, on account of non-satisfaction of the following requirements of RBI as on 31 March 2016 as are applicable to NBFC;1. Minimum Net Owned Fund of Rs. 1 crore
2. Maximum leverage of 7 times
3. Financial assets of more than 50%
The Company is in discussion with RBI in this regard.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content