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RBI tightens investment norms in NBFC from FATF non-compliant jurisdictions

February 15, 2021
In order to curb money laundering, The Reserve Bank of India has come up circular wherein it has clarified that the investors from non-FATF compliant jurisdictions would hold less than 20% of the voting power in non-banking finance companies (NBFCs). As a result, new investors from or through non-compliant FATF jurisdictions, should not be allowed to directly or indirectly acquire 'significant influence' in the investee.
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