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State laws don't apply to RBI-registered NBFCs: Supreme Court
short by Ananya Goyal / on 11 May 2022,Wednesday
State moneylending laws would have no application on non-banking finance companies (NBFCs) registered with and regulated by the Reserve Bank of India (RBI), the Supreme Court (SC) said on Tuesday. The court observed that the Chapter III­B of the RBI Act is a complete code in itself. Earlier, the Kerala High Court had said the state moneylending laws were applicable.
short by Ananya Goyal / 04:56 pm on 11 May
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