Non-Banking Financial Companies: Current Affairs, GK & News - 2020-2021

IMF lowers from 6.1 to 4.8 Percent GDP Growth Rate for India

Published: January 22, 2020

The Washington, D.C based international organization, International Monetary Fund (IMF)decreased India’s GDP growth forecast to 4.8 percent for this fiscal year, which is 1.3 percentage point lesser than its previous estimates. Chief Economist of the IMF, Gita Gopinath stated in a blogpost that the slow down in the Indian economy which resulted in weak rural ..

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Housing Finance Companies to be treated as NBFCs

Published: 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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RBI constitutes panel to review Core Investment Companies

Published: July 4, 2019

Reserve Bank of India (RBI) constituted a working group to review regulatory guidelines and supervisory framework for Core Investment Companies (CIC). The 6-member working group is chaired by Tapan Ray, non-executive chairman, Central Bank of India and former Secretary in Union Ministry of Corporate Affairs (MCA). Key Highlights Background: In August 2010, Central Bank on ..

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What is RBI’s Complaint Management System?

Published: June 26, 2019

The Reserve Bank of India (RBI) has launched Complaint Management System (CMS), on its website for facilitating RBI’s grievance redressal process. About CMS It is a software application launched by RBI for lodging complaints against any regulated entity with public interface such as commercial banks, urban cooperative banks (UCBs), Non-Banking Financial Companies (NBFCs). Objective: To ..

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RBI launches Single Window Portal for Customer Complaints

Published: June 25, 2019

The Reserve Bank of India (RBI) has launched a single window portal, Complaint Management System for addressing customer complaints relating to banks and non-banking finance companies (NBFCs) through an online portal. Complaint Management System The Complaint Management System (CMS) is a software application of the RBI to facilitate RBI’s grievance redressal process. Complaints can be ..

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