Financial Daily
from THE HINDU group of publications
Wednesday, January 19, 2000
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Financial Daily from THE HINDU group of publications Wednesday, January 19, 2000 |
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`NOF: No extension of time for NBFCs'
Our Bureau
MUMBAI, Jan. 18
THE Reserve Bank of India has said it has not extended the time-limit for non-banking finance companies (NBFCs) to comply with its guidelines on the net-owned funds (NOF).
In a statement on Tuesday, the RBI said it has not extended the deadline of January 9, 2000, for NBFCs to have a NOF of Rs. 25 lakhs.
``The RBI further advised that the NBFCs which have attained the minimum statutory NOF of Rs. 25 lakhs as on January 9, 2000, should report to the RBI immediately, but not later than April 10 of this year,'' the statement added.
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