Banking Awareness Test for IBPS, RBI, SBI, NABARD & other Bank Examinations

Q.  When was the Factoring Regulation Act passed in India?

a. 2011
b. 2000
c. 1991
d. 2001


ANSWER: See Answer
 
The parliament of India has passed the Factoring Regulation Bill in 2011.Any company can commence Factoring by obtaining registration from the RBI as a non-banking finance company. Such registration shall be governed by the existing law applicable to NBFCs as well as the new Factoring Regulation Act, 2011.
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