{"id":13962,"date":"2018-08-30T08:27:50","date_gmt":"2018-08-30T08:27:50","guid":{"rendered":"https:\/\/www.legalraasta.com\/blog\/?p=13962"},"modified":"2026-04-08T11:16:34","modified_gmt":"2026-04-08T05:46:34","slug":"withdrawing-exemptions-for-government-nbfcs","status":"publish","type":"post","link":"https:\/\/www.legalraasta.com\/blog\/withdrawing-exemptions-for-government-nbfcs\/","title":{"rendered":"RBI hitting on Government owned NBFCs \u2013 Withdrawing Exemptions"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.legalraasta.com\/blog\/withdrawing-exemptions-for-government-nbfcs\/#Overview\" title=\"Overview\">Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.legalraasta.com\/blog\/withdrawing-exemptions-for-government-nbfcs\/#Withdrawing_exemptions_for_government_NBFCs\" title=\"Withdrawing exemptions for government NBFCs\">Withdrawing exemptions for government NBFCs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.legalraasta.com\/blog\/withdrawing-exemptions-for-government-nbfcs\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Overview\"><\/span>Overview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With the regulation governing <a href=\"https:\/\/www.legalraasta.com\/blog\/non-banking-financial-company\/\">Non-Banking Financial Companies<\/a>, the RBI has always been ahead to play an important role in declaring compliances to the government-owned companies as well as non-government companies. In this article, we will let you know what initiatives the RBI has taken for the government NBFCs with respect to compliance as well as withdrawing exemptions for government NBFCs. It has been introduced to make government\u00a0NBFCs equal to the non-government <a href=\"https:\/\/www.legalraasta.com\/blog\/classification-of-nbfcs-in-india\/\" target=\"_blank\" rel=\"noopener\">NBFCs<\/a>. The RBI circular has mentioned that it will meet the timeliness norms on capital adequacy, classification of assets, reserve fund maintenance and requirements of provisions, a framework of corporate governance and fair practice code. To know more about <a href=\"https:\/\/www.legalraasta.com\/blog\/regulations-for-nbfcs\/\" target=\"_blank\" rel=\"noopener\">RBI guidelines for NBFCs<\/a>, you can follow our <a href=\"https:\/\/www.legalraasta.com\/blog\/\" target=\"_blank\" rel=\"noopener\">blog<\/a> and get updates and <a href=\"https:\/\/www.legalraasta.com\/nbfc-registration\/\" target=\"_blank\" rel=\"noopener\">register NBFC<\/a> here.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Withdrawing_exemptions_for_government_NBFCs\"><\/span><strong>Withdrawing exemptions for government NBFCs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>There are certain exemptions for the withdrawal\u00a0of government NBFCs that RBI has introduced. Those are given below:<\/p>\n<ul>\n<li>Where the Non-government\u00a0 NBFCs is maintaining a minimum capital to Risk Assets Ratio (CRAR) to 15% in case of Tier-1 capital is 0%, the government NBFCs now have to maintain CRAR to the same level for next four years with Tier-1 capital at 10% by 31 March 2022 according to notification of RBI.<\/li>\n<li>The RBI circular has mentioned that government NBFCs will meet the timeliness norms on capital adequacy, classification of assets, reserve fund maintenance and requirements of provisions, a framework of corporate governance and fair practice code by the end of the financial year.<\/li>\n<li>Moreover, government <a href=\"https:\/\/www.legalraasta.com\/nbfc-registration\/\" target=\"_blank\" rel=\"noopener\">registered NBFCs<\/a> would now have to maintain a minimum balance of 15% of their outstanding deposits as per the statutory provisions of Reserve Bank of India. It may reach to the minimum level by increasing 5% Points provision between the financial year 2019 and 2022 to comply with the provision of section 45IB of RBI Act, 1934.<\/li>\n<li>It is a must to create a reserve fund and transferring a sum of not less than 20% out of a net profit every year. It shall be shown in the profit and loss account before any declaration of a dividend to comply with section 45IC of the RBI Act, 1934 from the end of this financial year.<\/li>\n<li>Further, Government-owned NBFCs are required to maintain minimum investment\u00a0grade for acceptance of public deposits at the end of the financial year. The deposits up to 1.5 times its net operating fund can be accepted by the government NBFC-D having an investment\u00a0grade credit rating.<\/li>\n<li>The limit of government NBFCs for deposits if exceeds then it shall not access fresh deposits or renew existing ones till they conform to the limit. But the existing deposits will be allowed to run off till maturity.<\/li>\n<li>The overall directions to the NBFCs for the acceptance of public deposits by Reserve bank of India shall be applicable from Balance sheet dated 31st March 2019.<\/li>\n<\/ul>\n<p>If any NBFC having setup for catering to specific sectors can request RBI for exemptions. This is one of the benefits of withdrawing exemptions for government NBFCs.<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The only motive of RBI from this move is to bring government Non-banking financial institutions equal to that of the Non- government non-banking financial institutions regarding compliance with NBFC rules. There are some business entities which has been affected such as\u00a0Power Finance Corporation,\u00a0Indian Railway Finance Corporation,\u00a0IFCI,\u00a0India Infrastructure Finance Company,\u00a0Indian Renewable Energy Development Agency and Housing &amp; Urban Development Corporation. It will lead to enhancing a fair and free competition between the two types of ownership structures, subject to investors and the market&#8217;s valuations.<\/p>\n<p>For further more information regarding <a href=\"https:\/\/www.legalraasta.com\/blog\/annual-compliance-nbfcs-india\/\" target=\"_blank\" rel=\"noopener\">Compliance of NBFCs<\/a>,<a href=\"https:\/\/www.legalraasta.com\/nbfc-registration\/\" target=\"_blank\" rel=\"noopener\"> NBFC Registration<\/a> you can visit our website: <a href=\"https:\/\/www.legalraasta.com\/\" target=\"_blank\" rel=\"noopener\">Legal Raasta<\/a><\/p>\n<p>Ring us on 8750048585 and you can send any of your queries to Email: contact@legalraasta.com<\/p>\n<blockquote>\n<p>Related Articles:<\/p>\n<p><a href=\"https:\/\/www.legalraasta.com\/blog\/buying-and-selling-of-nbfcs-in-india\/\" target=\"_blank\" rel=\"noopener\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Buying and selling of NBFCs in India&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\">Buying and selling of NBFCs in India<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.legalraasta.com\/blog\/ombudsman-scheme\/\" target=\"_blank\" rel=\"noopener\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Ombudsman Scheme - NBFCs&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\">Ombudsman Scheme &#8211; NBFCs<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.legalraasta.com\/blog\/section-269ss-269t-applicable-nbfc-rbi\/\" target=\"_blank\" rel=\"noopener\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Section 269SS and 269T applicable to NBFC: RBI&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:573,&quot;3&quot;:[null,0],&quot;5&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;7&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:[null,2,0]},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}\">Section 269SS and 269T applicable to NBFC: RBI<\/span><\/a><\/p>\n<p>&nbsp;<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Overview With the regulation governing Non-Banking Financial Companies, the RBI has always been ahead to play an important role in declaring compliances to the government-owned companies as well as non-government companies. In this article, we will let you know what initiatives the RBI has taken for the government NBFCs with respect to compliance as well as [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":13983,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[141],"tags":[174,316,315,314],"class_list":["post-13962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nbfc","tag-nbfc","tag-rbi-withdrawing-exemptions-for-government-nbfc","tag-rbi-withdrawl-exemptions","tag-withdrawing-exemptions-for-government-nbfcs"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>withdrawing exemptions for government NBFCs by RBI | Legal Raasta |<\/title>\n<meta name=\"description\" content=\"Withdrawing exemptions for government NBFCs has been introduced to 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