NBFC & MFI in India Current Affairs, GK & News
The Reserve Bank of India (RBI) has increased loan exposure limit of banks to a single NBFC. This is expected to help increase credit supply to the crisis-ridden shadow banking sector. Relaxation of Norms As per the Large Exposures Framework (LEF), Banks’ exposure to a single non-banking financial company (NBFC) was restricted to 15% of their available ..
The Steering Committee on fintech-related issues has recommended a new legal framework for consumer protection and has also suggested new cash flow-based financing options for micro, small and medium enterprises. What has happened? A new panel established to explore issues related to the financial technology (fintech) has submitted a report to the Finance Minister of ..
In order to address the liquidity issues haunting the NBFC’s, the government has announced Rs 1-lakh crore Partial Guarantee Scheme for NBFCs and HFCs (non-banking and housing finance companies). Partial Guarantee Scheme Under the Scheme, public-sector banks will purchase high-rated pooled assets of financially sound non-banking finance companies (NBFCs). To purchase high-rated pooled assets of ..
Manoj Kumar Nambiar, MD of Arohan Financial Services (AFS), has been elected as new chairman of Microfinance Institutions Network (MFIN). The MFIN is an industry association consists of 56 NBFC-MFIs (Non Banking Financial Company-Micro Finance Institutions) and 40 associates including Banks, SFBs (Small Finance Banks ) and NBFCs. It is also the Self-Regulatory Organization (SRO) ..
RBI relaxes rules for NBFCs to sell or securitise their loan books to ease persistent stress in sector
Reserve Bank of India (RBI) relaxed rules for non-banking financial companies (NBFCs) to sell or securitise their loan books in bid to ease persistent stress in the sector. RBI has relaxed minimum holding period (MHP) requirement for originating NBFCs, in respect of loans of original maturity above 5 years, to receipt of repayment of six ..