Financial Daily from THE HINDU group of publications
Saturday, Mar 08, 2003
Financial Daily from THE HINDU group of publications Saturday, Mar 08, 2003 |
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Securitisation Money & Banking - RBI & Other Central Banks RBI stipulation for securitisation co Our Bureau
MUMBAI, March 7 ANY securitisation and reconstruction company applying for the Reserve Bank of India's registration should have a minimum-owned fund of Rs 2 crore, the central bank has stipulated. RBI said it would shortly notify final guidelines and directions. It has also notified the format of the application form to be submitted by the securitisation and reconstruction company. These companies are required to apply to RBI for registration under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The application form can be accessed on the Reserve Bank's Web site www.rbi.org.in.
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