In my remarks tonight, given that the curtain is slowly coming down on 2013, I thought I would look back at the year that was, reflect on where we are and also on the challenges that lie before us, both on the domestic and international front. 2.
The legislative intent and the focus were thus mainly to moderate the resource mobilisation exercise by way of deposits by NBFCs and thereby providing indirect protection to the depositors by linking the quantum of deposit to their Net Owned Funds (NOF). The focus continued to be the same till early 90s.