RBI creates new category of NBFCs for factoring:

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The RBI has introduced a new category of NBFCs focused on factoring. A company seeking registration as NBFC-Factors would have a minimum net-owned fund (NOF) of Rs.5 crore. An NBFC-Factor would ensure that its financial assets in the factoring business constitute at least 75% of its total assets and its income derived from factoring business is not less than 75% of its gross income.

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