NBFCs Current Affairs, GK & News
RBI: New Dividend Payout norms for NBFCs
Reserve Bank of India (RBI) has decided to prescribe guidelines on distribution of dividend by NBFCs in order to induce a greater transparency and uniformity in practice. Highlights Guidelines will be effective for the declaration of dividend from profit for financial year 2021-2022 and onwards. Board of directors will consider the proposals for dividend. They ..
Month: Current Affairs - June, 2021
Category: Economy & Banking Current Affairs
Topics: Dividend Payout norms for NBFCs • NBFCs • Non Performing Assets (NPA) • Non-Banking Financial Companies (NBFCs)
RBI extends Risk Based Internal Audit rules to HFCs
Reserve Bank of India (RBI) has extended Risk-Based Internal Audit (RBIA) rules to all deposit-taking and non-deposit taking HFCs (Housing Finance Companies) who are having assets above Rs 5,000 crore. These rules will be effective from June 30, 2022. Highlights Earlier on February 3, RBI had made these rules applicable to other entities as well. ..
Month: Current Affairs - June, 2021
Category: Economy & Banking Current Affairs
Topics: housing finance companies • NBFCs • Non-Banking Financial Companies (NBFCs) • Risk-Based Internal Audit • urban co-operative banks (UCBs)
15 Proposals worth Rs 6400 Cr Sanctioned for Stressed NBFCs and HFCs
The Finance Ministry has declared that the government has sanctioned 15 proposals worth Rs 6400 crores as part of the Special Liquidity Package, a part of the Rs 20.97 lakh crore ‘Atmanirbhar Bharat’ Package announced by the government. What is the Scheme? This scheme was launched on July 1 and it permits both primary and ..
Month: Current Affairs - August, 2020
Category: Economy & Banking Current Affairs • Government Schemes Current Affairs
Topics: Finance Ministry • HFCs • National Housing Bank • NBFCs • NHB • RBI
RBI issues regulatory guidelines for implementation of Ind AS
The Reserve Bank on Friday issued regulatory guidelines for implementation of Indian Accounting Standards (Ind AS) by Non-banking financial companies (NBFCs) and Asset reconstruction companies (ARCs) when they prepare their financial results from FY20. Indian Accounting Standards is the Accounting standard adopted by companies in India and they are issued under the supervision of Accounting Standards Board (ASB). The Ind AS have ..
Topics: Indian Accounting Standards • NBFCs • Reserve Bank of India
Housing Finance Companies to be treated as NBFCs
The Reserve Bank of India (RBI) has issued a notification stating that housing finance companies (HFCs) will be treated as one of the categories of Non-Banking Financial Companies (NBFCs) for regulatory purposes and it will come under its direct oversight. Finance Act of 2019 The Finance Act, 2019 has amended the National Housing Bank Act, ..
Topics: Bank • Central bank • Economy • Finance • Financial services • High-fructose corn syrup • National Housing Bank • NBFCs • Non-bank financial institution • Non-Banking Financial Companies • Reserve Bank of India • Reserve Bank of India