Non-banking financial company

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

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: AirlineBusinessCreditDecember 2012Financial servicesNon Banking Financial CompaniesNon-banking financial companyPercentage

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 corporationMarket liquidityMinistry of Small Scale IndustriesNon-banking financial companyPriority Sector LendingRefinancingReserve Bank of IndiaSmall 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 corporationIDBI BankMarket liquidityMinistry of Small Scale IndustriesNon-banking financial companyPriority Sector LendingReserve Bank of IndiaSmall 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: BankFinancial servicesInfrastructure Debt FundsIsrael Defense ForcesMutual fundNon-banking financial companyRun batted inUnited 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 bankIndiaJewelleryNBFCNon-banking financial companyReserve BankReserve Bank of IndiaRun 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: ANNEXBankCuffe ParadefinanceJune 30 2013Non-banking financial companyReserve 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

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 ParibasFIPBforeign direct investmentForeign Investment Promotion BoardIndiaNew DelhiNon-banking financial companyProposals

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 centreGovernment of IndiaIndiaNational Do Not Call RegistryNon-banking financial companyTelecom Regulatory Authority of IndiaTelemarketingTRAI

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 – 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

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