Fema / RBI : RBI cautions banks and NBFCs on non-compliance with regulatory standards, highlighting risks associated with rapid home equity loa...
Fema / RBI : Explore NBFC Fair Practice Code under RBI Scale Based Regulations. Learn about guidelines, transparency, customer rights, and grie...
Fema / RBI : Explore the role of Non-Banking Financial Companies (NBFCs) in India's financial landscape, their types, and regulatory compliance...
CA, CS, CMA : Delve into the CRB Scam case study of 1996, exposing loopholes exploited by Bhansali, implications on public funds, and the vital ...
Fema / RBI : RBI directs NBFCs to adhere to a Rs 20,000 cash loan disbursement limit, aiming to regulate cash transactions and enforce complian...
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...
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...
Service Tax : HC Held that, FC collected by banks or NBFC on premature termination of loans cannot be subject to service tax under Banking & Oth...
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. ...
Corporate Law : Explore the latest IRDA circular allowing insurers to invest in Infrastructure Debt Funds-NBFCs, streamlining the process for enha...
Fema / RBI : Explore RBI's recent regulatory steps to manage consumer credit growth and NBFC reliance on bank borrowings. Updated risk weights ...
In terms of Section 45-IA of the RBI Act, 1934, no Non-banking Financial company can commence or carry-on business of a non-banking financial institution without a) obtaining a certificate of registration from the RBI.
REQUIREMENTS AS PER RBI ACT, 1934 1. Requirement of prior approval of Reserve Bank Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of Non-Banking Financial Companies (NBFCs). 2. Application for prior approval NBFCs shall submit an application, in the company letter head, for obtaining prior approval of the Bank, […]
With strong RBI regulations in place since the IL&FS crisis, the big NBFCs have been facing a credit crunch since 2019. However, mid-size and small size NBFCs have been doing well and ready to raise a significant amount of FDI for retail lending. India has about 9000+ active NBFCs but hardly 954 of them have […]
Overview and regulatory aspects of Non-Banking Financial Companies (NBFC) NBFC- Meaning & definition: Financial sector in addition to banking system is huge sector. Like all over the word, NBFC plays significantly important role to complement the banking system in India. Non-banking financial company (NBFC) means a company registered under the Companies Act 2013 or under […]
Non Banking Finance Company plays a vital role in the Indian economy as it provides loan to > Start-ups as business loan > Salaried employees as Personal loan to fulfil their essential requirements > Farmers as Agriculture Loan > People in need of Assets as Assets Finance Loan and etc. To set up a Non […]
NBFC Registration Process and Cost for Different Types of Entities As per Section 45-IA of the RBI Act, 1934, no Non-banking Financial Company can commence or carry on the business of a non-banking financial institution without a) obtaining a certificate of registration from the Bank and without having a Net Owned Funds of Rs. 25 […]
The Reserve Bank of India (RBI) can exercised the power under The Reserve Bank of India Act, 1934 to issue or cancel the certificate of Non-Banking Finance Company (NBFC) in India. The Reserve Bank of India plays the key role of the Regulatory body and an authority to supervise and regulate NBFCs in India. RBI grants […]
People who have not had a long career in the financial market tend to wonder why is it necessary to get an NBFC registration before starting a private lending institution. The story goes back to the post-colonial era when the only lenders who were well regulated were scheduled banks. The private lenders were not accountable […]
Non-Banking Financial Companies (NBFCs) have been trying to enter the markets of insurance business for a long time. In 2000, the Central Bank of Indian Government, i.e. RBI gave a green light to them and the NBFCs since then are operating in the Insurance sector.
The Government of India recently had extended the Emergency Credit Line Guarantee Scheme (ECLGS) by a month till 30th November 2020, as the scheme had thus far failed towards meeting the target of Rs 3 lakh crore. The scheme has been launched as part of the Atma Nirbhar Bharat Abhiyan package, which was announced by the Finance Minister […]
