RBI issues Draft Directions on Need to obtain Its Prior Approval for Acquisition/Transfer of Control of NBFCs

The Reserve Bank of India today released on its website, draft directions for Non-Banking Financial Companies (NBFCs) (Approval of Acquisition or Transfer of Control) Directions, 2015 seeking views/comments from all interested parties and general public. Suggestions and comments on the draft directions may be sent by April 15, 2015 to the Chief General Manager, Reserve Bank of India, Department of Non-Banking Regulation, 2nd Floor, World Trade Centre, Cuffe Parade, Mumbai-400005 or can be emailed by clicking here.

The draft has been proposed based on representations received from NBFCs and other industry participants and once issued, these will replace 'Non-Banking Financial Companies (Approval of Acquisition or Transfer of Control) Directions, 2014' dated May 26, 2014 .

The final set of directions in the subject matter will be issued after receiving feedback, comments and suggestions on the draft directions.

Alpana Killawala
Principal Chief General Manager

Press Release : 2014-2015/2056

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