Non-bank financial institution Current Affairs, GK & News
The Reserve Bank of India (RBI) has increased loan exposure limit of banks to a single NBFC. This is expected to help increase credit supply to the crisis-ridden shadow banking sector. Relaxation of Norms As per the Large Exposures Framework (LEF), Banks’ exposure to a single non-banking financial company (NBFC) was restricted to 15% of their available ..
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 ..
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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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 ..
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 ..