Q. When was the Factoring Regulation Act passed in India?
a. 2011
b. 2000
c. 1991
d. 2001
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.