NB. I. Industrial Finance Plans MOA Alterations to Align with RBI’s Type-I NBFC-ND Status
N. B. I. Industrial Finance Company Limited confirmed that its Board of Directors has approved proposed amendments to the company's Memorandum of Association (MOA). These alterations are intended to bring the MOA into alignment with the policies and directions set forth by the Reserve Bank of India (RBI), specifically reflecting the company's status as a Type-I Non-Banking Financial Company - ND (NBFC-ND).The company is a Non-Banking Financial Company (NBFC) registered under the Reserve Bank of India Act, 1934. To secure the Certificate of Registration as a Type-I NBFC-ND, the core provisions relating to "lending" and "borrowing" must be removed or deleted from the Object clause of the MOA. The Board accordingly decided to update the existing MOA to reflect this categorization, alongside other necessary syntactic amendments to the object clauses. The company confirms that following these changes, it will continue to operate as an NBFC.
Proposed Amendments to the MOA
The Board of Directors, in its meeting held on Friday, May 22, 2026, approved the following proposed alterations to the existing MOA:| Clause Location | Nature of Amendment | Key Change Details |
|---|---|---|
| Clause III A (1) | Investment Business Scope | Deletes 'lend, borrow' after 'transfer, transmit' and adds 'all kinds and types of securities' after 'otherwise deal with'. |
| Clause III A (2) | General Business Activities | Deletes 'lenders, borrowers' and adjusts wording throughout the clause. |
| Clause III B (1) | Support & Charitable Objects | Adds 'or for' after 'payments towards insurance' and deletes 'or guaranteeing moneys for' before 'charitable or benevolent'. |
| Clause III B (12) | Rural Development Focus | Substitutes 'section 35CC of the incometax Act, 1961' with 'The income-tax Act'. |
| Clause III B (13) | Social Welfare Activity | Substitutes the word 'loans' with 'grants' and changes 'prosecute' to 'pursue'. |
| Clause III B (15) | Technology Services | Adds 'kinds and' after 'customizing or otherwise all' and 'altering or otherwise all'. |
Shareholder Approval Process
The alterations require the approval of the company’s members through a Special Resolution. Consequently, the company is circulating a Postal Ballot Notice seeking this approval.Members are requested to participate in the e-voting process, which commenced on Tuesday, May 26, 2026, and will close on Wednesday, June 24, 2026. The resolution, if passed by the requisite majority, will be deemed passed on the final voting date.
The Company remains committed to operational continuity and confirms that after the change in categorization to Type-I NBFC-ND, it will continue its activities as a Non-Banking Financial Company.
NBIFIN Stock Price Movement
As of 12:50 PM, shares of N. B. I. Industrial Finance Company Limited (NBIFIN) are slipping by 0.01% in live trading, currently valued at ₹1861.1. The stock is seeing limited activity today, evidenced by a total traded volume of 13 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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