reserve bank of india (rbi)

Frauds – Future approach towards monitoring of frauds in NBFCs Please refer to circulars DNBS.PD.CC.No.127/ 03.10.42/2008-09 dated August 14, 2008, DNBS.PD.CC.No.256/03.10.042/2011-12 dated March 02, 2012 and DNBS.PD.CC.No.314/03.10.042/2012-13 dated December 13, 2012 on the captioned subject. It has been decided to revise the threshold for reporting of frauds and submission of quarterly progress reports on frauds Read More →

reserve bank of india (rbi)

NBFC – Factors (Reserve Bank) Directions, 2012 – Review The Reserve Bank of India had reviewed the guidelines on provision of factoring services by banks and specified certain conditions under which banks can departmentally undertake factoring activities. To ensure against regulatory gaps/ arbitrage if any, arising from differential regulations as between NBFC-Factors and banks, the Read More →

Non Banking Financial Company NBFC

FDI in Non-Banking Finance Companies (NBFC) is allowed up to 100% under the automatic route in only the following activities: Merchant Banking Under Writing Portfolio Management Services Investment Advisory Services Financial Consultancy Stock Broking Asset Management Venture Capital Custodian Services Factoring Credit Rating Agencies Leasing & Finance Housing Finance Forex Broking Credit Card Business Money Read More →

NBFC Licesing & Registration in India

A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act that is engaged in the business of loans and advances, receiving deposits (some NBFC’s only), acquisition of stocks or shares, leasing, hire-purchase, insurance business, chit business. Therefore, NBFCs lend and take deposits similar to banks; however there are a few differences a) Read More →