The Non-banking financial companies (NBFCs) are very similar to the conventional Banks to the most extent apart from few differences that make them their counterparts. The latest development in the financial markets has made the entrance of NBFC in the insurance sector possible. Guidelines provided by the Reserve bank of India has laid down the entry process […]
It’s no doubt that NBFCs have changed the landscape of the Financial Services Sector in India. NBFCs have a projected growth of a tremendous 19-21% for the 2018-19 Financial Year. However, ever since the infamous incident with Sahara India Financial Corporation in 2015, […]
An NBFC is defined as the business of loans and advances or acquisition of shares, stocks, debentures, bonds as well as securities whether issued by the government or local authority but excluding such institutions whose principal business is related to agricultural activities, industrial activity or purchase or sale […]
In the second quarter review of monetary policy, a sub-committee was constituted to study issues and concerns in the MFI sector in November 2010. But the committee submitted the report in January 2011. It has been announced under the monetary policy Statement 2011-2012 that the framework recommended by the committee is accepted by the Bank. […]
Non-Banking Financial Institutes or NBFCs are one of the major contributors to the 12.5% rise in GDP from the finance sector. NBFC registration procedures have been made very simplistic and easy to perform. Before we delve into the details, however, let’s briefly describe what NBFCs are NBFC […]
The Ministry of Finance released a notification on 26th July 2018 which seeks to amend the Integrated Tax(rate) under the Integrated Goods and Services Act, 2017. The notification basically specifies that RCM on services by individual DSAs to banks/NBFCs will be taxed. What this entails is that the services provided by DSAs […]
