Section 3(5) in The Ombudsman Scheme for Non-Banking Financial Companies, 2018
(5)`Non-Banking Financial Company' (NBFC) means a `non-banking financial company', as defined in Section 45-I(f) of the Reserve Bank of India Act, 1934, and registered with the Reserve Bank under Section 45-IA of the Reserve Bank of India Act, 1934, which (a) is authorised to accept deposits, or (b) has customer interface, with assets size of one billion rupees or above as on the date of the audited balance sheet date of the previous financial year, or of any such asset size as the RBI may prescribe, but, is not a Non-banking Financial Company - Infrastructure Finance Company (NBFC-IFC), Core Investment Company (CIC) , Infrastructure Debt Fund - Non-banking Financial Company (IDF-NBFC) and a company under liquidation.Explanation. - NBFC-IFC, CIC and IDF-NBFC shall have the same meanings as respectively assigned to them under RBI directions.A company under liquidation would mean a company (as defined in the Companies Act, 2013) in respect of which, the tribunal has passed the order of winding up and appointed official liquidator/ provisional liquidator, and, in cases of voluntary winding up/ liquidation, it would be from the date of passing of the resolution by a company to that effect and appointment of liquidator.
