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Banks can now extend finance to support the Factoring Companies complying with the following criteria among others.
1. They derive at least 50% of their income from factoring activities.
2. The receivables, irrespective of whether on 'with recourse' or 'without recourse' basis, form at least 50%of the assets of the factoring company.
Based on RBI Circular dt 01/07/15. Please visit www.rbi.org.in for
any further clarification if required….. Poppy
1. They derive at least 50% of their income from factoring activities.
2. The receivables, irrespective of whether on 'with recourse' or 'without recourse' basis, form at least 50%of the assets of the factoring company.
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