Factoring service in India is of recent origin the RBI issued guidelines for factoring services in 1...........

Finance Recent Developments in the Financial Sector

Factoring service in India is of recent origin, the RBI issued guidelines for factoring services in 1990. Which study group recommended the guidelines on Factoring?

Vijay Kelkar Study Group

Narasimhan Study Group

C. Rangarajan Study Group

Kalyanasundaram Study Group

None of these

Explanation:

Factoring service in India is of recent origin. It owes its genesis to the recommendations of the Kalyanasundaram Study Group appointed by the RBI in 1989. Pursuant to the acceptance of these recommendations, the RBI issued guidelines for factoring services in 1990. The first factoring company – SBI Factors and Commercial Ltd (SBI FACS) started operation in April 1991.