Tag: nbfc
CBDT notifies non-banking financial companies for the purpose of section 43D related to taxation of interest on bad or doubtful debts Section 43D of the of the Income Tax Act, 1961 (the Act) provides for the taxation of the interest income in relation to bad or doubtful debts …
RBI issues regulations for NBFCs under amended Factoring Regulation Act 2011 The Factoring Regulation Act, 2011 has been amended recently. The amendment widens the scope of companies that can undertake factoring business. The said Act permits Trade Receivables Discounting System (TReDS) to file the particulars of assignment of …
RBI revised regulatory framework for NBFCs. These guidelines shall be effective from October 01, 2022. The instructions relating to ceiling on IPO funding given vide para 3.1(d) of the Annex shall come into effect from April 01, 2022 Framework for Scale Based Regulation for Non-Banking Financial Companies Regulatory …
RBI debars Haribhakti & Co. LLP, Chartered Accountants from NBFC audit for 2 years from 01.04.2022 The Reserve Bank of India (RBI) has debarred M/s Haribhakti & Co. LLP, Chartered Accountants from undertaking any type of audit assignment/s in any of the entities regulated by RBI for a …
RBI prescribes guidelines on distribution of dividend by NBFCs RBI has prescribed guidelines on distribution of dividend by NBFCs to infuse greater transparency and uniformity in practice. The said guidelines shall be effective for declaration of dividend from the profits of the financial year ending March 31, 2022 …
RBI issues Master Direction Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021 RESERVE BANK OF INDIA DEPARTMENT OF REGULATION CENTRAL OFFICE, 2ND FLOOR, MAIN OFFICE BUILDING SHAHID BHAGAT SINGH MARG, FORT, MUMBAI – 400 001 RBI/2020-21/73 DOR.FIN.HFC.CC.No.120/03.10.136/2020-21 February 17, 2021 Master Direction …
Investment in NBFCs from FATF non-compliant jurisdictions RBI/2020-2021/97DOR.CO.LIC.CC No.119/03.10.001/2020-21 February 12, 2021 ToNon-Banking Financial Companies (NBFCs)(including Housing Finance Companies) andAsset Reconstruction Companies Madam / Dear Sir, Investment in NBFCs from FATF non-compliant jurisdictions The Financial Action Task Force (FATF) periodically identifies jurisdictions with weak measures to combat money …
Average base rate charged by NBFC-MFIs to their borrowers from January 2021 to be 7.96% Average base rate to be charged by NBFC-MFIs to their borrowers for quarter beginning January 1, 2021 notified at 7.96 per cent. Reserve Bank of India (RBI) has communicated that the applicable average …
IWG submits report to RBI. Large NBFCs may be converted into banks, promoters’ stake can be increased in bank Reserve Bank of India (RBI) had constituted an Internal Working Group (IWG) to review extant ownership guidelines and corporate structure for Indian private sector banks. The Terms of Reference …
RBI relaxes provisions for Housing Finance Institutions. Net owned fund of 20 crore rupees specified to commence business RESERVE BANK OF INDIA(Department of Regulation) NOTIFICATION Mumbai, the 18th November, 2020 No. DOR.049/CGM(MM)–2020.—In exercise of the power conferred by section 45-NC of the Reserve Bank of India Act, 1934, …
