The Department of Financial Services through notification dated 19th August, 2021 has appointed the 23rd day of August, 2021, as the date on which the provisions of the Factoring Regulation (Amendment) Act, 2021 shall come into force. The Parliament has enacted the Factoring Regulation (Amendment) Act, 2021 on 7th August, 2021. The amendment provides that every factor shall register the particulars of every transaction of assignment of receivables in his favor with the Central Registry set-up the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
