Here are other conditions the RBI has specified for NBFCs, HFCs and MFIs:
>> CRAR/CAR of NBFCs/HFCs should not be lower than the minimum regulatory requirement, which is 15 percent and 12 percent respectively as on March 31, 2019
>> HFCs should be registered under the National Housing Bank
Act, 1987
>> Net non-performing assets should not exceed 6 percent as on March 31, 2019
>> Recorded a net profit in at least one of the last two fiscal years (FY18 and FY19)
>> Should be rated investment grade by a SEBI registered rating agency
>> Should not have been reported under SMA-1 or SMA-2 category by any bank for their borrowings during last one year prior to August 1, 2018
>> Should comply with the requirement of the SPV for an appropriate level of collateral from the entity, which, however, would be optional and to be decided by the SPV