https://www.taxtmi.com/article/detailed?id=1979 A textual inconsistency in the RBI circular allows interpretation that very small NBFCs may be exempt "whether accepting public funds or not," while the explanatory rationale confines exemption to non-deposit taking NBFCs. The author warns that inspection powers alone are insufficient to regulate small entities that accept public money and recommends clarifying the exemption to prohibit public deposits by very small NBFCs or to subject such activity to strict regulation. en-us Tue, 25 Dec 2012 07:02:23 +0530 Sat, 14 Sep 2013 23:25:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1979 A textual inconsistency in the RBI circular allows interpretation that very small NBFCs may be exempt "whether accepting public funds or not," while the explanatory rationale confines exemption to non-deposit taking NBFCs. The author warns that inspection powers alone are insufficient to regulate small entities that accept public money and recommends clarifying the exemption to prohibit public deposits by very small NBFCs or to subject such activity to strict regulation. Articles Corporate Laws / IBC / SEBI Tue, 25 Dec 2012 07:02:23 +0530 https://www.taxtmi.com/article/detailed?id=1979