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 bank, Economy of India, finance, Gross domestic product, India, NBFC, Non-banking financial company, Run batted in
Sectoral Deployment of Bank Credit December 2013
Data for the month of December 2013 on sectoral deployment of credit collected from select 47 scheduled commercial banks accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks are set out in Statements I and II. These data are also available in the Real-Time Handbook of Statistics… Read More
Tags: Airline, Business, Credit, December 2012, Financial services, Non Banking Financial Companies, Non-banking financial company, Percentage
RBI extends Liquidity Support to Micro, Small and Medium Enterprises
Refinance to SIDBI to ease Liquidity Stress to MSE Sector In view of the need to ease the liquidity stress to Micro and Small Enterprises (MSE) sector which is employment intensive and contributes significantly to exports, it has been decided to provide refinance of an amount of `5,000 crore to the Small Industries Development Bank of… Read More
Tags: Government-owned corporation, Market liquidity, Ministry of Small Scale Industries, Non-banking financial company, Priority Sector Lending, Refinancing, Reserve Bank of India, Small Industries Development Bank of India
RBI extends Liquidity Support to Micro, Small and Medium Enterprises
Refinance to SIDBI to ease Liquidity Stress to MSE Sector In view of the need to ease the liquidity stress to Micro and Small Enterprises (MSE) sector which is employment intensive and contributes significantly to exports, it has been decided to provide refinance of an amount of `5,000 crore to the Small Industrial Development Bank of… Read More
Tags: Government-owned corporation, IDBI Bank, Market liquidity, Ministry of Small Scale Industries, Non-banking financial company, Priority Sector Lending, Reserve Bank of India, Small Industries Development Bank of India
Operationalization of Infrastructure Debt Funds – Removal of certain impediments
The Cabinet Committee on Economic Affairs has approved the following steps to promote the operationalization of Infrastructure Debt Funds (IDFs): (a) Capping of the annual Guarantee Fee payable to the Concession Authority at 0.05% p.a. of outstanding debt financed by the IDF NBFC (Non Banking Financial Companies) for the first three years of operation of… Read More
Tags: Bank, Financial services, Infrastructure Debt Funds, Israel Defense Forces, Mutual fund, Non-banking financial company, Run batted in, United States
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 bank, India, Jewellery, NBFC, Non-banking financial company, Reserve Bank, Reserve Bank of India, Run batted in
RBI Notification w.r.t. Returns to be submitted by NBFCs & Introduction of ˜Branch info™ returns
RBI/2013-14/219 DNBS (PD). CC.No. 355/03.02.02/2013-14 September 3, 2013 To CEOs of All NBFCs (excluding RNBCs) Dear Sir/Madam, Returns to be submitted by NBFCs- Introduction of ˜Branch info™ return Please refer to the DNBS (PD).CC.No.243/03.02.02/2011-12 dated September 22, 2011 on submission of returns by NBFCs. In terms of the extant instructions NBFCs are required to file various periodical… Read More
Tags: ANNEX, Bank, Cuffe Parade, finance, June 30 2013, Non-banking financial company, Reserve Bank of India, Run 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 Ministry, NBFC, Non-bank financial institution, Non-banking financial company, Rajya Sabha, rbi, Reserve Bank of India, Run 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: Deposit account, Kerala, NBFC, Non-banking financial company, Punjab National Bank, RBI Act, Reserve Bank of India, Run batted in
Central Government Approves 12 FDI Proposals
Based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting held on July 5, 2013, the Central Government has approved twelve (12) Proposals of Foreign Direct Investment amounting to Rs. 343.39 crore approximately. Details of the proposals considered in the aforesaid Meeting of the Foreign Investment Promotion Board(FIPB) are as follows: Following twelve (12) proposals have been approved: Sl. No. Name of the applicant Particulars of the proposal FDI/NRIinflows (Rs. In crore) 1 M/s Total Prosthetics & Onthotics India Pvt. Ltd. Haryana An Indian company to acquire… Read More
Tags: BNP Paribas, FIPB, foreign direct investment, Foreign Investment Promotion Board, India, New Delhi, Non-banking financial company, Proposals
Unsolicited Commercial Communication- National Do Not Call Registry
RBI/2013-14/163 DNBS (PD) CC No. 353/ 03.10.042/2013-14 July 26, 2013 To All Non-Banking Financial Companies (NBFCs) and Residuary Non-Banking Companies (RNBCs) Dear Sirs, Unsolicited Commercial Communication- National Do Not Call Registry Please refer to circular No DNBS.PD.CC.No. 109.03.10.001-2007-08 dated November 26, 2007 on the above subject in terms of which NBFCs were advised to employ only those… Read More
Tags: Call centre, Government of India, India, National Do Not Call Registry, Non-banking financial company, Telecom Regulatory Authority of India, Telemarketing, TRAI
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 management, Capital requirement, General manager, Master Circular, NBFC, Non-banking financial company, Reserve Bank of India, Run batted in
Master Circular – Frauds Future approach towards monitoring of frauds in NBFCs
RBI/2013-14/39 DNBS.PD.CC. No.337/03.10.042/2013-14 July 1, 2013 All Deposit taking NBFCs (including RNBCs) and NBFC-ND-SI Dear Sirs, Master Circular - Frauds Future approach towards monitoring of frauds in NBFCs As you are aware, in order to have all current instructions on the subject at one place, the Reserve Bank of India had issued a Master Circular… Read More
Tags: Business, chartered accountant, General manager, India, Master Circular, Non-banking financial company, Reserve Bank of India, Run batted in
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