Airtel Money Gets RBI NBFC Registration
Why in the news
The Reserve Bank of India granted Airtel Money, part of the Bharti Airtel group, a Certificate of Registration to work as an NBFC.
Key facts
- Entity: Airtel Money, subsidiary of Bharti Airtel.
- Licence: Certificate of Registration from RBI.
- Category: Type II non-deposit taking NBFC.
- Scope: activities allowed by RBI rules for such NBFCs.
About Type II non-deposit NBFCs
- Cannot take public deposits.
- May offer lending, payments-related financial services and other permitted activities.
- Generally moderate asset size and regulatory requirements, compared with systemically important NBFCs.
Regulatory framework
- NBFCs are regulated by RBI under the RBI Act, 1934 and the NBFC framework.
Exam angle
- Grant document: Certificate of Registration (CoR).
- Regulator: RBI.
- Parent: Bharti Airtel.