Economics • Banking & FinanceMedium
Which of the following entities is legally empowered to administer the 'Factoring Regulation Act, 2011' and register factors engaged in factoring business in India?
A. Securities and Exchange Board of India (SEBI)
B. Reserve Bank of India (RBI)✓ Correct Answer
C. Insurance Regulatory and Development Authority of India (IRDAI)
D. National Bank for Agriculture and Rural Development (NABARD)
💡 Solution & Explanation
Under the Factoring Regulation Act, 2011, the Reserve Bank of India acts as the statutory regulator empowered to register and oversee all non-banking financial companies and factors engaging in factoring business. Other regulatory bodies like SEBI or IRDAI oversee capital markets and insurance sectors respectively.
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