Lenders have an important role in the success of recently launched crop loan scheme Pradhan Mantri Fasal Bima Yojana (PMFBY), the Reserve Bank on Thursday said. “Banks have a vital role to play in increasing the coverage under the scheme,” RBI said in a notification addressed to bank chiefs. It said bank branches in the … Read More →
Private Limited Company is one of the most famous types of businesses in India. Private Limited Company offers advantages like limited liability, separate legal entity, easy transferability and perpetual succession. These advantages of Private Limited Company, makes it one of the most popular types of business in India. In this article we will discuss about … Read More →
The Reserve Bank on Thursday asked non- systematically important deposit taking and non-deposit-taking NBFCs, including infra and micro-lenders, to set aside 15% of their aggregate capital towards their holdings in Central and State Governments’ debts as prudential measures. In a circular, the central bank said the new norms will be applicable to all deposit accepting … Read More →
The Debts Recovery Tribunal have been constituted under Section 3 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The original aim of the Debts Recovery Tribunal was to receive claim applications from Banks and Financial Institutions against their defaulting borrowers. For this the Debts Recovery Tribunal (Procedure) Rules 1993 were … Read More →
National Bank for Agriculture and Rural Development (Nabard) will raise Rs 3,500 crore through 10 and 15 year tax-free non-convertible bonds. The bonds will offer coupons of 7.29% and 7.64% respectively to retail investors, Nabard said in a statement here today. Nearly 60% of the total issue size has been reserved for retail customers. For … Read More →
The Reserve Bank has rejected requests from non-banking finance companies (NBFCs) to become an agent to sell pension products of PFRDA. The RBI had received proposals from the NBFCs, wherein they had sought approval from the regulator for undertaking Point of Presence (PoP) services under Pension Fund Regulatory and Development Authority (PFRDA) for National Pension … Read More →
The Reserve Bank of India(RBI) revised guidelines for NBFC factor companies stipulating that there should be board approved limit for underwriting commitments with a view to mitigate credit risk. Besides, the RBI has also raised a threshold for reporting of frauds from Rs 25 lakh to Rs 1 crore for Non-banking Financial Company (NBFC). “Factoring … Read More →
Markets regulator Sebi today allowed foreign portfolio investors to invest in newly launched products — REITs, InvITs and AIFs — and also permitted them to acquire corporate bonds under default. All the investments by Foreign Portfolio Investors (FPIs) in such bonds should be within the overall limit of Rs 244,323 crore for foreign investment in … Read More →
The Reserve Bank of India (RBI) has asked banks to pay interest on savings banks account on a quarterly basis or shorter duration, a move which will benefit crores of savings account holders. At present, the interest is credited to savings bank account on a half-yearly basis. The interest rate on savings bank account is … Read More →
For the last few years, the Securities Exchange Board of India (Sebi) has been coming down hard on companies running collective investment schemes (CIS). These schemes, much in the news since the Saradha scam, are those in which people invest to create a pool of money which is then utilised to realise some income for … Read More →