<div id="readability-page-1"><div><div><div id="article-index-0">  <p>Market participants and brokers said several corporates and entities that remained wary of equity markets due to the risk of becoming “accidental NBFCs” may now participate more actively.</p> </div><div id="article-index-1">  <p>   These entities faced the possibility of breaching income thresholds linked to financial assets, which could have triggered mandatory registration requirements.</p> </div><div id="article-index-2">  <p>   “This move will provide greater comfort to highly compliance-focused corporates and entities that were earlier hesitant to participate meaningfully in capital markets due to the risk of inadvertently triggering NBFC classification norms,” said Uttam Bagri, managing director (MD) of BCB Brokerage.</p> </div><div id="article-index-3">  <p>   Bagri added that the broking industry had seen several genuine businesses unintentionally fall within the NBFC framework merely because of technical thresholds relating to financial assets and income. This was despite having no lending activity or customer-facing financial operations.</p> </div><div id="article-index-4">  <p>   In April, the RBI announced an exemption from registration for NBFCs that do not avail of public funds, do not have a customer interface, and have assets of less than ₹1,000 crore.</p> </div><div id="article-index-5">  <p>   These entities will be classified as “Unregistered Type I NBFCs”. The norms will come into effect from July 1.</p> </div><div id="article-index-6">  <p>   The broking community has welcomed the RBI relaxation as a positive structural boost for the depth and participation levels in India’s capital market ecosystem.</p> </div><div id="article-index-7">  <p>   “There are many entities — particularly promoter investment companies, family investment structures, treasury entities and passive holding companies — that were previously cautious about increasing equity market exposure. This was because of the possibility of inadvertently attracting NBFC classification norms.</p> </div><div id="article-index-8">  <p>   The RBI’s move provides greater regulatory clarity and should encourage greater comfort in deploying surplus capital into listed equities and other market instruments,” said Akshat Pande, managing partner at Alpha Partners.</p> </div><div id="article-index-9">  <p>   Pande added that, despite being unregistered, these entities would continue to be governed by Chapter IIIBB of the RBI Act, 1934. This would allow the RBI to issue specific guidelines if risks emerge.</p> </div><div id="article-index-10">  <p>   Unregistered Type-I NBFCs will remain exempt from registration requirements as long as they meet specified conditions, including operating a long-term business model without public funds or customer exposure.</p> </div><div id="article-index-11">  <p>   Existing NBFCs that meet these criteria have been given a one-time window to apply for deregistration by December 31, 2026. This has been introduced for the first time and offers a structured exit route from the regulatory framework.</p> </div><div id="article-index-12">  <p>“The RBI’s relaxation is likely to provide greater regulatory comfort to such entities and may encourage incremental participation in listed equities, treasury deployments, and strategic investments by corporates deploying their own funds. While it may not trigger an immediate surge in market activity, it does remove a compliance overhang that previously made many genuine participants cautious,” said Raheel Patel, partner at Gandhi Law Associates.</p> </div></div></div></div>

安硕印度

标普印度漂亮 50 ETF - iShares

<p>印度储备银行对小型非银行金融公司（NBFCs）免除注册要求的政策预计将增强企业在股市的参与。这一举措缓解了那些因收入门槛而担心成为 “意外 NBFC” 的实体的顾虑。市场专家认为，这将鼓励更多对上市股票和其他金融工具的投资，为注重合规的企业提供监管上的清晰和安心。新的 “未注册类型 I NBFCs” 分类将于 7 月 1 日起生效，允许符合条件的实体在无需强制注册的情况下运营</p>

印度储备银行对非银行金融公司的救济措施可能进一步促进企业在股市中的参与