Non-bank financial institution Current Affairs, GK & News

Centrum to takeover PMC Bank

June 19, 2021

Reserve Bank of India (RBI) cleared proposal to takeover of Punjab and Maharashtra Cooperatives Bank (PMC Bank) by a consortium of non-bank lender Centrum Financial Services & fintech startup BharatPe. Background This decision was taken in the backdrop of collapse of Punjab & Maharashtra Cooperatives Bank. This state cooperative lender was on the verge of ..

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TN Manoharan heads Committee on Secondary Markets

September 6, 2019

The 6-member RBI task force, headed by Canara Bank Chairman TN Manoharan, has recommended the setting up a Self-Regulatory Body (SRB) of market participants to finalize details for the secondary market for corporate loans, including the standardization of documents. It has also called for amending regulations of SEBI, IRDA and PFRDA to enable participation of ..

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Housing Finance Companies to be treated as NBFCs

August 22, 2019

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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Partial Guarantee Scheme for NBFCs

August 22, 2019

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 ..

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L&T Finance Holdings becomes first NBFC to get $100 million loan from AIIB for Green Energy Funding

July 16, 2019

The L&T Infrastructure Finance Company Limited (LTIF) has become the first Non-Banking Finance Company (NBFC) to get $100 million loan from Asian Infrastructure Investment Bank (AIIB) for on-lending to wind and solar power infrastructure projects in India. LTIF is a subsidiary of L&T Finance Holdings Ltd and a leading non-bank financier of renewable energy in ..

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Tapan Ray RBI committee to strengthen Core Investment Companies (CIC) framework

July 4, 2019

The Reserve Bank of India (RBI) has constituted a 6-member committee, under the chairmanship of former secretary of MCA Tapan Ray, to strengthen the corporate governance framework of systematically important Core Investment Companies (CICs). These are Non-Banking Financial Companies (NBFCs) which have their assets predominantly as investments in shares for holding stake in group companies ..

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