Amendment of section 45-IA.

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..... net owned fund of twenty-five lakh rupees or such other amount, not exceeding hundred crore rupees, as the Bank may, by notification in the Official Gazette, specify: Provided that the Bank may notify different amounts of net owned fund for different categories of non-banking financial companies.". - Clauses 135 to 142 of the Bill seek to amend certain provisions of the Reserve Bank of India Ac .....

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..... n-banking financial company. It is also proposed to insert a new section 45NAA in the Act relating to power of the Reserve Bank in respect of group company. It is also proposed to amend section 58B of the Act so as to enhance the existing amounts of penalty. It is also proposed to amend section 58G of the Act so as to enhance the existing penalties of five thousand rupees, five lakh rupees and tw .....

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