Applicability of NBFCs - ND -SI regulations – RBI Clarifies
All NBFCs with assets size of Rs 100 crore and above, and not accepting / holding public deposits were required to submit a Monthly Return on Important Financial Parameters to the Regional Office under whose jurisdiction the company is located.
‘Systemically important non-deposit taking non-banking financial company'( NBFC - ND -SI) means a non banking financial company not accepting/holding public deposits and having total assets of Rs 100 crore and above as shown in the last audited balance sheet.
A non-deposit taking NBFC with an asset size of less than Rs. 100 crore as on balance sheet date might subsequently add on assets before the next balance sheet date due to several reasons including business expansion plan. It is clarified that once an NBFC reaches an asset size of Rs. 100 crore or above, it shall come under the regulatory requirement for NBFCs - ND -SI despite not having such assets as on the date of last balance sheet.
Therefore, it is advised that all such non-deposit taking NBFCs may comply with RBI regulations issued to NBFC - ND -SI from time to time, as and when they attain an asset size of Rs. 100 crore , irrespective of the date on which such size is attained.