Master Direction - Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016

Question 1

Requirement of Maintenance of Liquid Assets by NBFC-D?

Answer 1

15% of the public deposits, out of which at least 10% should be invested in unencumbered approved securities and up to 5% can be invested in Term Deposits of SCB, NABARD,SIDBI or Bonds of SIDBI, NABARD

Question 1

The minimum investment grade credit rating for any NBFC shall be ‘…….. ‘ from any of the SEBI registered Credit Rating Agencies to accept public deposits. The NBFC must be rated once a year.

Answer 1

BBB–

Question 2

Tenure of Deposit to be accepted by NBFC-D?

Answer 2

1 to 5 years

Question 3

Ceiling on quantum of Deposit accepted by NBFC-D?

Answer 3

1.5 times of NOF

Question 4

Tenure of Deposits from NRIs by NBFC-D?

Answer 4

1 to 3 Years

Question 5

Appointment of agents or opening of branches by NBFC-D is as per?

Answer 5

If NOF is up to 50 Crore then Within the State where its registered office is situated; and if NOF is above 50 Crore, then Anywhere in India

Question 6

Payment of Brokerage by NBFC-D

Answer 6

Brokerage/ Commission/ Incentive cannot be paid more than 2% of the deposit collected and reimbursement of expenses in excess of 0.5% of the deposit collected

Question 7

“……………………..” means a non-banking financial company as notified under in sub-clause (iii) of clause (f) of section 45-I of the Act, that undertakes the business of an account aggregator, for a fee or otherwise, as defined at clause (iv) of sub-section 1 of section 3 of these directions

Answer 7

Account Aggregator