➢ Verify whether the name of NBFC appears in the list of deposit taking NBFCs entitled to accept deposits, available at https://rbi.org.in and to ensure that it is not appearing in the list of companies prohibited from accepting deposits.
➢ NBFCs must prominently display the Certificate of Registration (CoR) issued by the Reserve Bank on its site / in its office. This certificate should also reflect that the NBFC has been specifically authorized by RBI to accept deposits. Scrutinize the certificate to ensure that the NBFC is authorized to accept deposits.
➢ NBFCs cannot accept deposits for a period less than 12-months and more than 60 months and the maximum interest rate that an NBFC can pay to a depositor should not exceed 12.5%.
➢ The Reserve Bank publishes the change in the interest rates on https://rbi.org.in → Sitemap → NBFC List → FAQs.
