Non Banking Financial Companies(NBFCs)

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Notification No.DNBS.162/CGM(CSM)-2002 dated October 1, 2002

RESERVE BANK OF INDIA
DEPARTMENT OF NON-BANKING SUPERVISION
CENTRAL OFFICE
CENTRE I, WORLD TRADE CENTRE
CUFFE PARADE, COLABA
MUMBAI - 400 005

Notification No.DNBS.162/CGM(CSM)-2002 dated October 1, 2002

The Reserve Bank of India, having considered it necessary in the public interest and being satisfied that for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Miscellaneous Non-Banking Companies (Reserve Bank) Directions, 1977, in exercise of the powers conferred by sections 45J, 45K and 45L of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powers enabling it in this behalf, hereby directs that the said directions contained in Notification No.DFC.39/DG(H)- 77 dated June 20, 1977 be amended forthwith, as follows, namely –

In sub-paragraph (1), in Paragraph 13, the following item (g) shall be inserted, namely, -

"(g) that the deposits solicited by it are not insured."

Sd/-
(C. S. Murthy)
Chief General Manager - in - Charge


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