NBFC

Non-Banking Finance Companies: Game Changers

Speech delivered by Shri P Vijaya Bhaskar, Executive Director, Reserve Bank of India at ASSOCHAM in Delhi on January 23, 2014 Introduction The Indian financial sector consists of a wide variety of institutions which cater to different market segments. At the apex level are scheduled commercial banks which follow universal banking model. Next, there is… Read More

Tags: Commercial bankEconomy of IndiafinanceGross domestic productIndiaNBFCNon-banking financial companyRun batted in

RBI Policy on Lending Against Security of Single Product such as Gold Jewellery

RBI/2013-14/260 DNBS.CC.PD.No.356 /03.10.01/2013-14 September 16, 2013 To All NBFCs (excluding PDs) Dear Sir, Lending Against Security of Single Product Gold Jewellery It may be recalled that in the light of the spike in gold imports in the recent years and the potential threat this could pose to external stability of the country, the Working Group to Study… Read More

Tags: Central bankIndiaJewelleryNBFCNon-banking financial companyReserve BankReserve Bank of IndiaRun batted in

Scrutiny of NBFCs to Determine that they are not Crossing their Mandate

The Ministry of Corporate Affairs has recently forwarded a list of 34,754 companies which are registered under the Companies Act, 1956 and classified / categorised as Non- Banking Financial Companies (NBFCs) in the records of Ministry of Corporate Affairs and these companies may be carrying on Non-Banking Financial Institution (NBFI) activities without mandatory registration as… Read More

Tags: Corporate Affairs MinistryNBFCNon-bank financial institutionNon-banking financial companyRajya SabharbiReserve Bank of IndiaRun batted in

RBI directs two NBFCs to stop allowing premises for accepting deposits

The Reserve Bank of India has directed two Non-Banking Financial Companies (NBFCs), viz., Muthoot Fincorp Ltd. (MFCL) and Manappuram Finance Ltd. (MAFIL) to stop allowing the use of its premises / branches to accept deposits from public by their associate unincorporated bodies. Muthoot Estate Investment (MEI), was collecting public deposits through the branches of MFCL… Read More

Tags: KeralaNBFCNon-banking financial companyPunjab National BankRBI ActReserve Bank of IndiaRun batted in

Master Circulars – Miscellaneous Instructions to NBFC- ND-SI

RBI/2013-14/45 DNBS (PD) CC No.343/03.10.001/2013-14 July 1, 2013 To All Non-Banking Financial Companies (NBFCs) Dear Sirs, Master Circulars- Miscellaneous Instructions to NBFC- ND-SI In order to have all current instructions in one place, the Reserve Bank of India has consolidated all the instructions issued during the year ended June 30, 2013. The circular seeks to… Read More

Tags: Asset liability managementCapital requirementGeneral managerMaster CircularNBFCNon-banking financial companyReserve Bank of IndiaRun batted in

Master Circular- Introduction of New Category of NBFCs – ˜Non Banking Financial Company-Micro Finance Institutions™ (NBFC-MFIs) – Directions

RBI/2013-14/49 DNBS.(PD)CC.No. 347 /03.10.38/2013-14 July 1, 2013 To, All NBFCs (excluding RNBCs) Dear Sirs, Master Circular- Introduction of New Category of NBFCs - ˜Non Banking Financial Company-Micro Finance Institutions™ (NBFC-MFIs) - Directions As you are aware, in order to have all current instructions on the subject at one place, the Reserve Bank of India issues… Read More

Tags: BusinessFinancial servicesGeneral managerJune 30 2013NBFCNon-banking financial companyReserve Bank of India

Master Circular 2013 Opening of Branch-Subsidiary-Joint Venture-Representative office or Undertaking Investment Abroad by NBFCs

RBI/2013-14/47 DNBS (PD) CC No.346/03.02.001/ 2013-14 July 1, 2013 To All Non-Banking Finance Companies Dear Sirs, Master Circular 2013Opening of Branch-Subsidiary-Joint Venture-Representative office or Undertaking Investment Abroad by NBFCs As you are aware, in order to have all current instructions on the subject at one place, the Reserve Bank of India issues updated Circulars/notifications. The… Read More

Tags: Federal Emergency Management AgencyfinanceIndiaNBFCNon-Bank Financial CompaniesNon-banking financial companyReserve Bank of IndiaRun batted in

Raising Money through Private Placement by NBFCs-Debentures etc.

RBI/2012-13/560 DNBD(PD) CC No. 330/03.10.001/2012-13 June 27, 2013 All NBFCs (including PDs) Dear Sirs Raising Money through Private Placement by NBFCs-Debentures etc. NBFCs raise money by issuing capital/debt securities including debentures by way of public issue or private placement. In the case of public issue of such securities, institutions and retail investors can participate. Private… Read More

Tags: COLABACompanies Act 1956MumbaiNBFCNon-banking financial companyPrivate placementReserve BankReserve Bank of India

NBFCs – RBI™s Fraud Monitoring Cell to function from Bengaluru from July 01, 2013

RBI/2012-13/532 DNBS (PD) CC.No.329 /03.10.42/2012-13 June 13, 2013 All NBFCs Dear Sir/Madam, RBI™s Fraud Monitoring Cell to function from Bengaluru from July 01, 2013 Attention is invited to para 3 of Master Circular DNBS.(PD)CC.No.283/03.10.042/2012-13  dated July 2, 2012 on Reporting of Frauds to RBI. 2. The Reserve Bank of India™s Fraud Monitoring Cell attached to Department of… Read More

Tags: Central Fraud Monitoring CellCuffe ParadeMumbaiNBFCNon-banking financial companyReserve BankReserve Bank of India

RBI Advisory :: Check before Depositing Money with Financial Entities

The Reserve Bank of India has today issued an advisory to members of public urging them to carefully evaluate their investment decisions, including making deposit with NBFCs. The advisory is part of the Frequently Asked Questions (FAQs) issued by the central bank. The FAQs explain in detail the various kinds of financial entities and the regulations governing… Read More

Tags: Collective investment schemefinanceNBFCNon-banking financial companyRegistrar of CompaniesReserve BankReserve Bank of IndiaRun batted in

Guidelines on Investment in Insurance for Core Investment Companies

RBI/2012-13/466 DNBS(PD) CC.No.322/03.10.001/2012-13 April 1, 2013 All NBFCs Dear Sirs, Core Investment Companies Guidelines on Investment in Insurance At present NBFCs venturing into insurance are guided by the circular DNBS(PD).CC.No.13/02.01/99-2000 dated June 30, 2000 on amendment to NBFC Regulations which contains the ˜Guidelines for entry of NBFCs into Insurance™. In view of the unique business model of… Read More

Tags: BusinessCore Investment CompaniesInsuranceJoint ventureNBFCNon-banking financial companyRegulationReserve BankRun batted in

NBFCs – Standardisation and Enhancement of Security Features in Cheque Forms – Migrating to CTS 2010 Standards

RBI/2012-13/345 DNBS.PD/ CC.NO.316/03.10.001/2012-13 December 20, 2012 All NBFCs Dear Sir/Madam, Standardisation and Enhancement of Security Features in Cheque Forms - Migrating to CTS 2010 Standards A reference is invited to our Circular No DNBS.PD/ CC.NO.308 /03.10.001/2012-13 November 6, 2012 advising all NBFCs to ensure replacement of all Non-CTS-2010 standard compliant cheques received from their customers for future… Read More

Tags: CTS 2010NBFC

Review of Guidelines on entry of NBFCs into Insurance Business

RBI/2010-11/540 May 27, 2011 CLR Note: The Non Banking Financial Companies registered with RBI will now be permitted to set up a joint venture company for undertaking insurance business with risk participation, subject to safeguards. The maximum equity contribution such an NBFC can hold in a joint venture  company is 50 per cent of the… Read More

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