The SEBI circular mandates that, as of April 1st 2023, physical shareholder folios that are missing any of the data—such as a PAN, email address, mobile number, bank account details, or nomination—must be frozen.


NBFC Sector in India

NBFC Sector in India

NBFC Sector 

While understanding the basic idea of a Non-Banking Financial Companies (NBFCs), we need to know what exactly NBFCs are. As per law, A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares / stocks / bonds / debentures / securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property. In layman language Non-Banking Financial Companies (NBFCs) are the financial institutions that offer the banking services but do not comply with the legal definition of a bank, i.e. it does not hold a bank license.

Previous Post
Newer Post