Fema / RBI : Know the three situations where RBI approval is required for NBFCs—takeover, 26% share acquisition, and board changes over 30% i...
Company Law : Overview of annual compliance requirements for Non-Banking Financial Companies (NBFCs) in India, including RBI regulations and Com...
Finance : Learn the NBFC takeover process, types, prerequisites, and RBI compliance. A complete guide for businesses looking to acquire an N...
Fema / RBI : Learn the step-by-step process for NBFC registration in India, including required documents, eligibility, and RBI compliance. Unde...
Fema / RBI : Concerns rise over improper practices in microfinance involving misuse of Rule 12 Declarations and MGT-14 forms by private and Sec...
CA, CS, CMA : RBI prescribes that an audit firm can concurrently take up audit of maximum of eight NBFCs during a year, irrespective of the asse...
Fema / RBI : Delhi High Court sets aside RBI's cancellation of NBFC registration for failure to meet Rs. 200 Lakh NOF, directs fresh review of ...
Corporate Law : Supreme Court held that Banks/ Non-Banking Financial Companies (NBFCs) are obliged to adopt restructuring process of MSME as conte...
Fema / RBI : RBI directs NBFCs to adhere to a Rs 20,000 cash loan disbursement limit, aiming to regulate cash transactions and enforce complian...
Income Tax : Whether interest retained by NBFCs on assets purchased by SBI falls under categories of interest, fees for professional/technical ...
Income Tax : In ITO Vs Saivi Finance Pvt Ltd, ITAT Delhi restores the matter back to AO due to denial of natural justice, assessees not given c...
Fema / RBI : RBI releases updated Master Circular on bank finance to NBFCs. Consolidates existing instructions, no new guidelines in this revis...
Fema / RBI : RBI restores risk weights on SCB exposures to NBFCs, reversing the 25% increase from November 2023. New rules take effect from Apr...
Fema / RBI : Explore the latest RBI circular on Credit/Investment Concentration Norms impacting Non-Banking Financial Companies. Learn about co...
Fema / RBI : Explore the draft circular by RBI on harmonising regulations for Housing Finance Companies (HFCs) with Non-Banking Finance Compani...
Fema / RBI : Explore RBI Draft Circular on Credit/Investment Concentration Norms for Government-owned NBFCs. Provide feedback by Feb 29, 2024. ...
CHAPTER 1 – INTRODUCTION 1.1 ABSTRACT Developing countries in the world there are very less financial structure where many people are not able to carry out business or certain activities because they do not have proper funds or support which are actually required. In order to resolve such issues, the concept of micro financing was […]
A newly incorporated business in any form i.e. whether sole proprietor or partnership or LLP or Companies require funds or finance to grow and run its business effectively. The sales (revenue) are the main form of cashflows to the business. Sometimes the business requires additional funding for future growth and efficiency. Therefore the business approaches […]
Registrations with different Entities by Non-Deposit Taking NBFC NBFC is required to register with various entities as per relevant Master Direction, Circular and notification issued by RBI from time to time. Brief up for the same is as below. This article is limited to the extent registrations required by Non-Deposit Taking NBFC. (NBFC-ND-NSI) 1. CIC […]
The Credit Information Companies (Regulation) Act, 2005 (CIC Act), a legislation enacted by the Government of India to manage the actions of credit information companies in India (CIC’s) and to facilitate efficient distribution of credit also as for matters connected to an equivalent . Pursuant to the CIC Act, the Federal Reserve Bank of India […]
(A) Annual Compliances Checklist to be done by an NBFC (Non-taking Public Deposit) Asset Size – Below Rs. 100 Crores Return Name Return Overview Frequency Who will Submit Timeline for submission of Return DNBS 02 Important Financial Parameters Annual NBFC 60 Days DNBS 10 Statutory Auditor Certificate Annual Statutory Auditor One month from the date […]
Non Baking Finance Company plays a important role in the Indian economy as it provides Loan to Startup, Entrepreneur to run their business. Mainly NBFC Entity registered in following three type of entity:- Asset Finance Company (AFC) : An AFC is a company which is a financial institution carrying on as its principal business the […]
Declaration of dividends by NBFCs In order to infuse greater transparency and uniformity in practice, it has been decided to prescribe guidelines on distribution of dividend by NBFCs. Applicability – All NBFC’s regulated by RBI Effective Date – Effective for declaration of dividend from the profit of F.Y. 2021 – 22 and onwards. Consideration before […]
Applicability of Filing Financial Statements in XBRL mode with Registrar of Companies: Below mentioned class of companies are required to file their financial statements and other documents under section 137 of the Companies Act, 2013 with the Registrar in e-form AOC-4 XBRL: -All companies listed in the stock exchange in India and their Indian subsidiaries. -All companies with a turnover of Rs. […]
Brief Overview of XBRL Returns Applicability to the Non Deposit taking – Non Systematically Important Category of Non Banking Financial Companies (NBFCs) & other Important Provisions thereof XBRL stands for eXtensible Business Reporting Language. It is a language for the electronic communication of business and financial data which is revolutionising the business reporting around the […]
NABARD has defined microfinance as “provision of thrift, credit and other financial services and products of very small amounts to the poor in rural, semi-urban and urban areas provided to customers to meet their financial needs; with only qualification that (1) transactions value is small and (2) customers are poor.” A micro finance institution is […]
