TABLE NO. 1: NUMBER OF NON-BANKING FINANCIAL COMPANIES (1981-1996)
Year No. of Financial Companies Year No. of Financial Companies
1981 7,063 1989 21,106 1982 8,974 1990 24,009 1983 11,100 1991 33,520 1984 13,519 1992 35,832 1985 15,358 1993 8,451 1986 17,356 1994 13,815 1987 19,618 1995 14,077 1988 19,311 1996 13,849
Source: RBI Bulletin, LI (8), Aug. 1997. P 591 and RBI Bulletin, LII (2), Feb. 1998. P 71 The number of NBFCs declined to 51,929 in the year 1996. After the failure of CRB Capital Markets Ltd. and subsequent failure of NBFIs in 1997, RBI Act was amended on 9
th
January 1997. The Amendment Act made registration compulsory for every NBFC. The Table No. 2 shows the number of NBFCs registered with the RBI after the Act was amended.
Share with your friends: |
