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Rule-11 of the Rules of Business for NBFIs stipulates that at
least 5% of the credit facilities shall be provided to small
entrepreneurs. In the case of Housing Finance Companies at least
5% facilities shall be in the form of facilities not exceeding
Rs 300,000. per borrower.
It
has been decided to substitute the definition of ‘Facilities
to Small Entrepreneurs’ for the purpose of Rule-11 of
the Rules of Business for NBFIs as laid down under Part A
of NBFIs Circular No.1 dated December 05, 1991, amended from
time to time, as under:
‘Facilities
to Small Entrepreneurs’ would mean and include:
i)
"Facilities allowed by an NBFI for genuine business purposes
upto Rs 300,000.
ii)
Facilities allowed to Industrial Units, including Cottage
Industries, which have fixed assets (excluding land and buildings)
the original value of which does not exceed Rs 20,000,000.
iii)
Facilities/loans allowed to the Software Exporters/Software
Houses/ Information Technology Companies."
Please
acknowledge receipt.
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