Non-banking financial company

RBI FAQs :: Deposit Taking Activities of Financial Entities

1. What is a Non-Banking Financial Company? A Non-Banking Financial Company (NBFC) is a company a) registered under the Companies Act, 1956, b) its principal business is lending, investments in various types of shares/stocks/bonds/debentures/securities, leasing, hire-purchase, insurance business, chit business, and c) its principal business is receiving deposits under any scheme or arrangement in one… Read More

Tags: Collective investment schemeFinancial institutionIndiaMutual fundNational Housing BankNon-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

RBI Clarification on Unique Customer Identification Code for NBFC Customers in India

RBI/2012-13/489 DNBS (PD).CC. No. 325/03.10.42/2012-13 May 03, 2013 Non-Deposit taking NBFCs with assets of Rs 25 cr and above/ All Deposit taking NBFCs Dear Sir, Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT) - Unique Customer Identification Code for NBFC Customers in India (UCIC) The Reserve Bank of India has… Read More

Tags: Financial institutionGovernment of IndiaIndiaKnow Your Customermoney launderingNon-banking financial companyReserve Bank of IndiaTerrorism financing

Consolidated FDI Policy – New Guidelines Released

The government is seeking to further simplify the foreign investment regime, by releasing a revised consolidated FDI policy guidelines. The changes include investments in sectors like single and multi-brand retail, power exchanges, asset reconstruction companies (ARCs), broadcasting, civil aviation, and non-banking financial companies (NBFCs). Changes in the Consolidated FDI Policy Guidelines Allows upto 51% inflows… Read More

Tags: Consolidated FDI PolicyFDIforeign direct investmentIndiaInvestmentLimited liability partnershipMemorandum of AssociationNon-banking financial companyPakistan

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

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