Tag: nbfc
Revised AoC-4 Non-XBRL form due to amendment of Schedule III of CA 2013 to be available soon without additional fee-MCA Advisory The Central Government has made further amendments to Schedule III to the Companies Act, 2013 vide Notification dated 11th October 2018. As per the said notification, Division …
Government issues Scheme to provide a one-time partial credit guarantee to PSBs for purchase of pooled assets of financially sound NBFCs The step would provide liquidity to NBFCs and enable them to continue to play their role in meeting the financing requirements of productive sectors of economy In …
RBI releases draft circular on “Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies” for public comments The Non-Banking Financial Companies (NBFCs) play an important role in the financial system of the country, particularly in delivering credit to the last mile, including the retail as …
NBFCs to appoint a Chief Risk Officer if their asset size is more than 50 billion – RBI issues guidelines RBI has decided that NBFCs with asset size of more than Rs. 50 billion shall appoint a Chief Risk Officer (CRO) with clearly specified role and responsibilities. The …
RBI extends coverage of NBFC Ombudsman Scheme to eligible Non Deposit Taking NBFC Reserve Bank of India (RBI) has extended the coverage of Ombudsman Scheme for Non-Banking Financial Companies (NBFCs), 2018 (the Scheme) to eligible Non Deposit Taking Non Banking Financial Companies (NBFC-NDs) having asset size of Rupees …
RBI has decided to merge the three categories of NBFCs viz. AFC, LCs and ICs into a new category called NBFC-Investment and Credit Company (NBFC-ICC) Over a period of time, evolution of the NBFC sector has resulted in several categories of NBFCs intended to focus on specific sector/ …
Relaxation on the guidelines to NBFCs on securitisation transactions In order to encourage NBFCs to securitise/assign their eligible assets, RBI has decided to relax the Minimum Holding Period (MHP) requirement for originating NBFCs, in respect of loans of original maturity above 5 years, to receipt of repayment of …
Disallowance u/s 40(a)(ia) for non deduction of tax on payments to well-known NBFCs-ITAT remands issue for examination if NBFCs offered income to tax ABCAUS Case Law Citation: ABCAUS 2633 (2018) (11) ITAT Important Case Laws Cited/relied upon: Shri Azmath Ulla vs. ACIT ITO vs. Dr. Jaideep Kumar Sharma …
RBI cancels Certificate of Registration of 5 NBFCs The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following five Non-Banking Financial Companies (NBFCs). Sr. No. Company’s Name Address of Registered Office Certificate of Registration No. Issued On Date of cancellation 1. M/s Cygnus …
RBI withdraws Exemptions Granted to Government Owned NBFCs RESERVE BANK OF INDIA RBI/2017-18/181 DNBR (PD) CC.No.092/03.10.001/2017-18 May 31, 2018 All Government NBFCs Madam/ Sir, Withdrawal of Exemptions Granted to Government Owned NBFCs Government owned companies, as defined under Clause (45) of Section 2 of the Companies Act, 2013 …
