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Indian Laws - Highlights / Catch Notes

Home Highlights May 2022 Year 2022 This

Interpretation of statute - whether Non Banking Financial ...

Indian Laws

May 16, 2022

Interpretation of statute - whether Non Banking Financial Companies (NBFC) regulated by the Reserve Bank of India, in terms of the provisions of Chapter IIIB of the Reserve Bank of India Act, 1934 (RBI Act) could also be regulated by State enactments such as Kerala Money Lenders Act, 1958 (Kerala Act) and Gujarat Money Lenders Act, 2011 (Gujarat Act)? - The Kerala Act and the Gujarat Act will have no application to NBFCs registered under the RBI Act and regulated by RBI. - SC

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