Page-2 of NBFCs
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 ..
Month: Current Affairs - February, 2018
RBI launches Ombudsman scheme for NBFCs
The Reserve Bank of India (RBI) has launched Ombudsman Scheme for non-banking financial companies (NBFCs) for redressal of complaints against NBFCs registered with RBI under section 45-IA of the RBI Act, 1934. The scheme will provide cost-free and expeditious complaint ..
Month: Current Affairs - February, 2018
Union Cabinet approves liberalization of FDI norms for NBFCs
The Union Cabinet has approved liberalization of foreign investment norms for the non-banking finance companies (NBFCs) to improve the ease of doing business. Decision in this regard, Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi. Cabinet ..