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of <h1>SEBI Recognizes Certain NBFCs as Qualified Institutional Buyers Under SARFAESI Act; Must Register Under Section 45-IA RBI Act</h1> The Securities and Exchange Board of India (SEBI) issued a notification on March 31, 2008, under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. It specifies that systemically important non-deposit taking non-banking financial companies (NBFCs) with an asset size of at least 100 crore rupees, and other non-deposit taking NBFCs with an asset size of at least 50 crore rupees and a Capital to Risk-weighted Assets Ratio (CRAR) of 10% or more, will be recognized as qualified institutional buyers under the SARFAESI Act. These NBFCs must be registered under section 45-IA of the Reserve Bank of India Act, 1934.
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