Net owned fund threshold for non-banking financial companies made variable allowing the central bank to set limits by notification. The amendment substitutes clause (b) of section 45-IA(1) to require a net owned fund of twenty-five lakh rupees or such other amount not exceeding one hundred crore rupees as the Bank may specify by notification and permits the Bank to notify different net owned fund amounts for different categories of non-banking financial companies.
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Provisions expressly mentioned in the judgment/order text.
Net owned fund threshold for non-banking financial companies made variable allowing the central bank to set limits by notification.
The amendment substitutes clause (b) of section 45-IA(1) to require a net owned fund of twenty-five lakh rupees or such other amount not exceeding one hundred crore rupees as the Bank may specify by notification and permits the Bank to notify different net owned fund amounts for different categories of non-banking financial companies.
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