NBFCs tweak books to stay outside RBI ambit
Mumbai: A number of conglomerates are employing a familiar strategy to keep their holding companies and non-banking finance companies (NBFCs) out of the Reserve Bank of India's purview, avoiding a host of regulatory requirements. They are adjusting the balance sheets of these entities to evade regulatory definitions. The move is taking place amid RBI notices seeking explanations for companies that have not yet registered or are not adhering to the rules following registration.
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