Non-Banking Financial Companies (NBFCs) Current Affairs, GK & News

Non-Banking Financial Companies (NBFCs)  Current Affairs, GK & News

RBI releases Framework for sale of Loan Exposure and Securitization of Standard Assets

The Reserve Bank of India recently released draft framework for “Sale of Loan Exposures” and “Securitization of Standard Assets”. Highlights The guidelines issued are applicable to Scheduled Commercial Banks. This includes All India Financial Institutions such as EXIM Bank, NABARD, Non-Banking Financial Companies. The guidelines have also included recommendations of Committee on Development of Housing ..

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RBI suspended licence of seven non-banking finance companies (NBFCs)

On 17 August the Reserve Bank of India (RBI) suspends licence of seven non-banking finance companies (NBFCs). The seven NBFCs whose licences were suspended are – Religare Finance, Artisans Micro Finance, Eden Trade & Commerce, RCS Parivar Finance, Nott Investments, Dewra Stocks & Securities, Swetasree Finance. Being a dormant entity, Religare Finance licence was suspended ..

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RBI relaxes KYC norms for Non-Banking Financial Companies (NBFC's)

Reserve Bank of India (RBI) has relaxed Know-Your-Customers (KYC) norms for Non-Banking Financial Companies (NBFCs). In this regard, RBI has amended the KYC norms in order to remove the practical difficulties and constraints being faced by NBFC’s in getting KYC documents at frequent intervals. Previously, as per the norms it was necessary for NBFC’s to ..

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