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Central Bank to Merge Three NBFC Categories into One

February 25, 2019

Central Bank to Merge Three NBFC Categories into One
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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