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Central Bank to Merge Three NBFC Categories into One
February 25, 2019
The Reserve Bank of India (RBI) has announced that it will merge the three categories for Non-Banking Financial Companies (NBFCs) into a new one. As per the official statement, NBFCs that are put under the categories Investment Companies (ICs), Loan Companies (LCs), and Asset Finance Companies (AFCs) will be now placed under a single category called Investment and Credit Companies (ICCs).
The Central bank said that NBFCs are put under fewer categories to provide them with greater flexibility.
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