Eighth Type of NBFC Formulated by RBI

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RBI has issued  CIRCULAR DNBS.CC.PD.NO. 250/03.10.01/2011-12, DATED 2-12-2011 by which  it is stated that a new category of Non Banking Financial Company for Micro Finance sector is created.Thus, a separate category of NBFCs viz; Non Banking Financial Company-Micro Finance Institution (NBFC-MFI) is created. Now the 8 types of NBFC are i. Asset Finance Company (AFC)…