>> New regulations now require all NBFCs to have net owned funds of at least Rs 2 crore. They also put a cap of 1.5 times net-owned fund on deposits that an NBFC can accept. As per the new regulations, an asset will be reclassified as non-performing after it has remained overdue for a period of 90 days. The earlier period was 180 days.
>> The asset management companies (AMCs) which are yet to fulfil the net worth requirement of Rs 50 crore will be allowed to launch a maximum of two funds per year till they fulfil the requirement.
>> As per the new regulation, de-listing of a company will be considered successful if 25% public shareholders holding shares in the demat form (on the date of board meeting approving the de-listing) tender their shares and the after this the shareholding of the acquirer goes up to 90% of the total share capital of the company. The timeline for completing the delisting process has also been reduced from 137 calendar days (approx 117 working days) to 76 working days.
>> Now you will be able to reactivate your National Pension System account after paying the minimum contribution for financial years when the account was frozen plus Rs 100 as penalty and Rs 500 as contribution towards the current year.
>> Irda has asked general insurers to follow the process prescribed by it to price risk for policies sold to commercial entities.
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