Further, the limit for acceptance of deposits has been reduced for rated AFCs from 4 times earlier to 1.5 times of NOF. 17. The Principal Business Criteria (PBC) for NBFC-Factors has been revised to 50:50 from the existing 75:75, thereby aligning it with the provisions of the Factoring Regulation Act, 2011.
The Single Resolution Mechanism continues to be strengthened, both through the build-up of the Single Resolution Fund, which will reach its target by the end of 20231, and through the recent agreement on a backstop provided by the European Stability Mechanism. The implementation of these two pillars represents a milestone in European integration and a major success for financial stability.