History, asked by krupabenkotak19, 6 days ago

Regulations of NBFCs

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Answered by khanzubaida130

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Answered by Anonymous

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The NBFCs are allowed to accept/renew public deposits for a minimum period of 12 months and maximum period of 60 months. They cannot accept deposits repayable on demand. NBFCs cannot offer interest rates higher than the ceiling rate prescribed by RBI from time to time. The present ceiling is 12.5 per cent per annum.

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