NBFCs
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 ..
Month: Current Affairs - June, 2021
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 ..
Month: Current Affairs - June, 2021
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 ..
Month: Current Affairs - August, 2020
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 ..
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. ..
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 ..
Month: Current Affairs - November, 2018
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 ..
Month: Current Affairs - June, 2018
FIU categorises 9,491 NBFCs as high risk for PMLA non-compliance
The Financial Intelligence Unit (FIU) under Finance Ministry has categorised around 9,491 non-banking financial companies (NBFC) as high risk prone financial institutions as they have not complied with stipulated provision of Prevention of Money Laundering Act (PMLA). There are about ..