Suspense Crime Sach Ka Dam
If you have money deposited in an account of a non-banking financial company (NBFC), then you will be able to withdraw the entire amount within the first three months of accepting the deposit. The Reserve Bank of India said this on Monday. But it also said that the condition will be that you will have to cite an emergency. According to the news of Bhasha, the central bank said in the review of the rules governing NBFCs that no interest will be paid for such premature withdrawal. These changes will come into effect from January 1, 2025.
Rules for withdrawal of funds
According to the news, the central bank said that based on the definition of critical illness prescribed by the insurance regulator IRDAI, it will be decided whether any request falls under the category of such exemption or not. The country’s central bank said that in cases of critical illness, 100 percent of the principal amount of the deposit can be withdrawn at the request of the depositors within three months from the date of acceptance of such deposits. In this situation, interest will not be paid to the depositors.
Then you can withdraw up to 50 percent of the deposit amount
Emergencies include medical needs or natural disasters. If there is no emergency and premature withdrawal is sought within three months, NBFCs can pay up to 50 percent of the deposit amount without paying any interest. However, this amount cannot exceed 50 percent.
The central bank has decided that the directions for the appointment of branches and deposit collection agents will also apply, mutatis mutandis, to deposit-taking HFCs, and necessary notifications will be sent by HFCs to the NHB as required in these directions. It also said that deposit-taking housing finance companies will separately fix internal limits approved by the board within the limit of direct investment.
