https://www.taxtmi.com/acts?id=36911 The Bill strengthens RBI regulatory powers over NBFCs by raising net owned fund requirements and penalties, authorising the RBI to remove directors and supersede boards of NBFCs (excluding Government Companies), extending RBI authority over group companies, enabling action against auditors for non compliance with RBI directions, and providing a statutory resolution mechanism; commencement to be notified by the Central Government. en-us Fri, 05 Jul 2019 18:39:36 +0530 Fri, 05 Jul 2019 18:39:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=36911 The Bill strengthens RBI regulatory powers over NBFCs by raising net owned fund requirements and penalties, authorising the RBI to remove directors and supersede boards of NBFCs (excluding Government Companies), extending RBI authority over group companies, enabling action against auditors for non compliance with RBI directions, and providing a statutory resolution mechanism; commencement to be notified by the Central Government. Act-Rules Bill Fri, 05 Jul 2019 18:39:36 +0530 https://www.taxtmi.com/acts?id=36911