Page-3 of NBFC
Chief Risk Officer for NBFCs
The Reserve Bank of India (RBI) has asked non-banking finance companies (NBFCs) with an asset size of more than ?5,000 crore to appoint a chief risk officer (CRO). NBFC’s have been asked to clearly specify the role and responsibilities of ..
RBI to regulate peer-to-peer lending firms as NBFCs: Government
The Union Government has issued gazette notification, notifying that Peer-to-peer lending (P2P) platforms will be treated as non-banking financial companies (NBFCs) and thus regulated by Reserve Bank of India (RBI). The notification will help P2P lenders to gain official recognition ..
Month: Current Affairs - September, 2017
Shishu, Kishore and Tarun in Mudra Bank
Micro Units Development and Refinance Agency (MUDRA) Ltd. Bank was launched on 8 April, 2015 as a subsidiary of SIDBI. It has been registered as an NBFC with the Reserve Bank and within a year, the government intends to come out ..
Types of Non-Banking Financial Companies (NFBC)
All NBFCs are either deposit taking or Non-deposit taking. If they are non-deposit taking, ND is suffixed to their name (NBFC-ND). The NBFCs which have asset size of Rs.100 Crore or more are known as Systematically Important NBFC. They have ..
Small Finance Banks
On 27 November 2014, RBI had released the guidelines on Small Finance Banks along with the Payment Banks. The objective of small finance banks is to further financial inclusion by providing: Basic banking facilities to the unbanked and thereby boosting ..
Review of Guidelines on Licensing of New Banks in Private Sector
In 1993, Reserve Bank of India came up with its new guidelines regarding entry of the private sector in Banking. On the basis of these guidelines, RBI issued licenses to Nine banks. Later, two more banks were given license. One ..
RBI relaxes group limit for NBFCs in insurance joint ventures
RBI has decided to consider a case-to-case basis relaxation of the 50% group limit norm for NBFCs (Non-Banking Finance Companies) in the equity of insurance joint venture (JV). As per the norms of IRDA (Insurance Regulatory and Development Authority), if ..