NBFCs Current Affairs, GK & News

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 ..

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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 ..

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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, ..

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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 ..

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Credit Enhancement Fund: Government to launch Rs.500 crore fund

Union Government is going to launch Rs.500 crore Credit Enhancement Fund (CEF) in July 2018 to facilitate infrastructure investments by insurance and pension funds. The CEF provides additional source of assaurance or gaurantee that borrower will service their loan. It also helps borrower to raise loans at lower interest rates. The  fund was first announced ..

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