Rejection of the Complaint RBI and Central government have vested power with Ombudsman to refuse the complaint which is filed with them, on the following grounds.

NBFC’s which are covered by the SARFAESI Act are: 196 NBFCs which are notified by The Ministry of Finance on 5th August 2016 All NBFCs having assets of more than Rs.500 crore according to their last audited balance sheet the Central Government informed certain NBFCs as public financial institutions under section 4A of the Companies Act,1956, such NBFCs are also allowed to exercise powers under the SARFAESI Act The value of security created and the amount of loan in favour of any NBFCs for the amount of debt should not be less than 1 crore.

NBFC’s primarily deal in the acquisition of stocks, debenture, and securities issued by the government or local authority they also deal in the business of advances and loans.

Prior approval from the Reserve Bank of India is necessary for the following conditions only.

The schemes launched by the government are an endeavour which will benefit all the first generation entrepreneurs in establishing their business in India.

More on: Documents Required for MSME Registration Benefits of Udyog Aadhar A large number of enterprises in India are not registered because the process involved in the registration process is sometimes cumbersome and hence the small and medium enterprises in India are unable to tap on the benefits which are apportioned to them by central and state government.

India is a developing country, and hence MSME or SSI Enterprises are the backbone of Indian economy and are also leading to economic growth at a pace which is increasing day by day.

MCA has notified stakeholders and directors of the company regarding the penalties imposed on non-filing of AOC-4 and MGT-7. These changes come with the amendment made in The Companies (Registration Offices and Fees) Second Amendment Rules 2018.

According to the dictionary meaning of "Nidhi", it means treasure, but in the financial sector, it is a mutual benefit society which is notified by the central government as a Nidhi Company.

Many government-backed schemes have made it possible for most of the Indian population to have their own bank account, but the still certain population of India do not use banking facility.