Section 45L of RBI Act : Section 45L: Power Of Bank To Call For Information From Financial Institutions And To Give Directions

RBI Act

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Explanation using Example

Imagine a scenario where the Reserve Bank of India (RBI) observes an unusual surge in the credit being provided by non-banking financial companies (NBFCs), which could potentially lead to an overheated economy and increase the risk of defaults. To manage this situation and prevent any adverse effects on the financial system, the RBI decides to invoke Section 45L of the RBI Act, 1934.

The RBI issues a notice to all NBFCs instructing them to submit detailed reports every quarter, including information on their capit...

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