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RBI sets new norms for non-banking financial companies

The Reserve Bank of India said on Friday registered non-banking financial companies (NBFCs) intending to convert to non-banking financial company-micro finance institutions (NBFC-MFI) will have to maintain net owned funds at Rs 300 crore (USD 537,200) by March 31, 2013 and Rs 500 crore by end-March 2014.

first published: Aug 3, 2012 07:59 pm

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