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CII suggests changes in RBI norms for appointment of statutory auditors by banks, NBFCs

CII suggests changes in RBI norms for appointment of statutory auditors by banks, NBFCs

🕔18:43, 23.May 2021

New Delhi, May 23 The Confederation of Indian Industry has come up with several recommendations for changes in the Reserve Bank of India’s guidelines for appointment of statutory auditors by banks and NBFCs. Commending the RBI’s intent of working towards strengthening

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NISM, CRISIL launch certification for wealth managers

NISM, CRISIL launch certification for wealth managers

🕔13:37, 29.Apr 2021

Mumbai, April 29  The National Institute of Securities Market (NISM), in collaboration with CRISIL, on Thursday launched a certification programme in wealth management. It will cover the entire lifecycle of wealth management, equipping participants with deep conceptual understanding, and ability

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NBFC body urges RBI to allow loan restructuring

NBFC body urges RBI to allow loan restructuring

🕔18:39, 27.Apr 2021

Mumbai, April 27  The Finance Industry Development Council (FIDC) has written to the Reserve Bank of India (RBI) seeking permission to restructure loans given by NBFCs in the wake of the deep Covid crisis. The NBFC body, in its letter

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NBFC body seeks inclusion of education in ECLGS

NBFC body seeks inclusion of education in ECLGS

🕔16:32, 19.Apr 2021

New Delhi, April 19  The Finance Industry Development Council (FIDC) has urged the government to include the education sector under the Emergency Credit Line Guarantee Scheme (ECLGS). The NBFC body in a letter to Finance Minister Nirmala Sitharaman noted that

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NBFCs to face asset quality, liquidity risk due to Covid 2.0

NBFCs to face asset quality, liquidity risk due to Covid 2.0

🕔11:06, 8.Apr 2021

Chennai, April 8  Indian non-banking finance companies (NBFC) face asset quality and liquidity risks owing to second wave of Covid-19 pandemic, said credit rating agency Fitch Ratings. Fitch on Thursday said NBFCs will face increased challenges if the restrictions to

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RBI asks banks to put in place policy to refund ‘interest on interest’

RBI asks banks to put in place policy to refund ‘interest on interest’

🕔04:43, 8.Apr 2021

Mumbai, April 8  The Reserve Bank of India (RBI) has directed all banks and NBFCs to immediately put in place a board-approved policy to refund or adjust the ‘interest on interest’ charged to borrowers during the moratorium period of March

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Banks allowed priority sector lending to NBFCs for another 6 months

Banks allowed priority sector lending to NBFCs for another 6 months

🕔17:27, 7.Apr 2021

Mumbai, April 7  With a view to ensure continued availability of credit to agriculture, MSME and housing sectors and aid faster economic recovery, the RBI has extended the priority sector lending (PSL) classification for lending by banks to NBFCs for

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NBFC-MFIs to charge 7.81% average base rate in April-June

NBFC-MFIs to charge 7.81% average base rate in April-June

🕔15:14, 31.Mar 2021

Mumbai, March 31  The Reserve Bank of India (RBI) on Wednesday said that Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) will charge an applicable average base rate of 7.81 per cent from their borrowers during the April-June quarter. The

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Proposed regulatory norms for NBFIs will enhance stability: Fitch

Proposed regulatory norms for NBFIs will enhance stability: Fitch

🕔17:40, 27.Jan 2021

Mumbai, Jan 27 Proposed changes to India’s regulatory framework for non-bank financial institutions (NBFIs) or NBFCs are likely to enhance the sector’s stability, Fitch Ratings said on Wednesday. The longer-term impact of such reform would also depend on its implementation, robust

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RBI proposals to restrict land financing by NBFCs: Report

RBI proposals to restrict land financing by NBFCs: Report

🕔15:22, 26.Jan 2021

New Delhi, Jan 26 The Reserve Bank’s proposals on restricting specific real estate funding by NBFCs will significantly affect land financing by them, India Ratings and Research (Ind-Ra) said in a report. In a recent discussion paper, the RBI proposed to

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RBI proposes multilayer system, stricter norms for NBFCs

RBI proposes multilayer system, stricter norms for NBFCs

🕔03:15, 23.Jan 2021

Mumbai, Jan 23  The Reserve Bank of India (RBI) on Friday proposed a four-layered structure for non-banking finance companies (NBFCs) and new norms to strengthen their governance and operations. The RBI, in a discussion paper, proposed to differentiate between NBFCs

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NBFCs growth expected to revive in FY2022: ICRA

NBFCs growth expected to revive in FY2022: ICRA

🕔04:49, 7.Jan 2021

New Delhi, Jan 7  AUM growth of non-banking companies, including NBFCs and HFCs, are expected to revive in FY22 to about 7-9 per cent vis-a-vis a flattish performance in the current fiscal, ICRA Ratings said on Wednesday. The segment’s AUM

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Neutral-to-positive impact of RBI’s draft circular on govt-owned NBFCs: Report

Neutral-to-positive impact of RBI’s draft circular on govt-owned NBFCs: Report

🕔09:00, 27.Dec 2020

New Delhi, Dec 27  The Reserve Bank’s recent draft circular on declaration of dividends by non-banking financial companies (NBFCs) will have a neutral-to-positive impact on government-owned NBFCs, India Ratings and Research (Ind-Ra) said. According to a Ind-Ra report, the new

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NBFCs with 15% CRAR for 3 yrs may be allowed to pay dividend

NBFCs with 15% CRAR for 3 yrs may be allowed to pay dividend

🕔06:56, 10.Dec 2020

Mumbai, Dec 10  The Reserve Bank of India (RBI) has come up with a draft circular for declaration of dividend by NBFCs, wherein it has proposed that NBFCs should have at least 15 per cent Capital to Risk Weighted Assets

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RBI proposes liquidity enhancing measures for RRBs

RBI proposes liquidity enhancing measures for RRBs

🕔14:42, 4.Dec 2020

New Delhi, Dec 4  After banks and NBFCs, the Reserve Bank of India (RBI) has now decided to facilitate a more efficient liquidity management in Regional Rural Banks (RRBs). Accordingly, the apex bank has decided to extend the Liquidity Adjustment

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RBI extends ‘co-origination’ model of loans to all NBFCs

RBI extends ‘co-origination’ model of loans to all NBFCs

🕔13:17, 9.Oct 2020

Mumbai, Oct 9  The Reserve Bank of India (RBI) has extend the ‘co-origination’ model of lending to all non-banking financial companies (NBFC), including housing finance companies (HFC), to make all priority sector loans eligible for the scheme and give greater

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NBFCs raise $3.9 billion capital buffer post Covid-19

NBFCs raise $3.9 billion capital buffer post Covid-19

🕔09:39, 16.Sep 2020

New Delhi, Sep 16  Non-banking financial companies have raised $3.9 billion through capital raise and asset sales in the post-Covid-19 period. In the midst of a difficult economic environment caused by the Covid-19 pandemic, India Inc has raised a massive

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REC organizes session on Insolvency and Bankruptcy Code (IBC)

REC organizes session on Insolvency and Bankruptcy Code (IBC)

🕔05:19, 28.Aug 2020

New Delhi: REC Limited organized a virtual session on Insolvency and Bankruptcy Code (IBC) taken by Mr. Anoop Rawat, a senior partner from Shardul Amarchand Mangaldas for its employees. Insolvency and Bankruptcy Code, 2016 (IBC) has been touted as one of

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Centre extends PCGS 2.0 for NBFCs with more flexibility

Centre extends PCGS 2.0 for NBFCs with more flexibility

🕔07:47, 18.Aug 2020

New Delhi, Aug 18  The Central government has extended the Partial Credit Guarantee Scheme 2.0 (PCGS) for non-banking financial companies (NBFC) by three months and has allowed more flexibility to build up the portfolio, an official statement said on Monday.

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Liquidity scheme for NBFCs, HFCs: 15 proposals get Rs 6,399 cr sanction

Liquidity scheme for NBFCs, HFCs: 15 proposals get Rs 6,399 cr sanction

🕔21:41, 8.Aug 2020

New Delhi, Aug 8  The special liquidity scheme (SLS) for NBFCs and HFCs has received a positive response from the financial sector with 15 proposals involving an amount of Rs 6,399 crore already sanctioned upto August 7. The Rs 30,000

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