With the regulation governing Non-Banking Financial Companies, the RBI has always been ahead to play an important role in declaring compliances to the government-owned companies as well as non-government companies. In this article, we will let you know what initiatives the RBI has taken for the government NBFCs with respect to compliance as […]
GST is the one Indirect tax which has eliminated the other indirect taxes in India. GST Law is a comprehensive, multi-stage, destination-based tax in India that had been passed into parliament on 29th March 2017. But it came into existence on 1st July 2017. It is levied on every value addition. In this […]
In a notification released on March 9, 2017, the RBI declared that sections 269SS and 269T will be applicable to NBFCs. These stipulations thus, add to the list of NBFC compliances in India. Before we […]
The Reserve Bank of India (RBI) is taking radical steps to ensure compliant, safe and healthy business practices from NBFCs. In the month of July 2018 alone, RBI canceled the license of over 100 NBFCs. RBI had blacklisted some of these organizations and […]
NBFC Microfinance institution (NBFC-MFI) is the financial institution in which a minimum net owned fund is Rs. 5 crores. But in the North Eastern region of the country, it is only Rs. 2 crore. ‘Qualifying assets’ are not less than 85% of its net assets. The income of the NBFC-MFI extracts […]
Non-Banking Financial Companies (NBFCs) have surely changed the landscape of the financial services sector in India. NBFCs have enabled many people to go on and pursue their goals without worrying for capital by providing credit facilities. Check out: Classifications of NBFCs. The Reserve Bank of […]
