The NBFCs accepting public deposits should furnish to RBI Annual return of critical parameters by a rejected company holding public deposits – NBS4 Quarterly Return on liquid assets-NBS 3; Quarterly Return on prudential norms-NBS 2; Share on: whatsapp
Category: Finance
How Company Law Board is protecting the interest of depositors
When an NBFC fails to repay any deposit or part thereof in accordance with the terms and conditions of such deposit, the Company Law Board (CLB) either on its own motion or on an application from the depositor, directs by…
Rating of NBFCs is necessary before it accepts deposit
An unrated NBFC, except certain Asset Finance companies (AFC), cannot accept public deposits. An exception is made in case of unrated AFC companies with CRAR of 15% which can accept public deposit without having a credit rating up to a…
What a depositor should know before depositing money with NBFCs
While making deposits with an NBFC, the following aspects should be borne in mind: A proper deposit receipt is issued, giving details such as the name of the depositor/s, the date of deposit, the amount in words and figures, rate of…
Whether NBFC can accept deposit & its related Regulations
Can all NBFCs accept deposits? All NBFCs are not entitled to accept public deposits. Only those NBFCs to which the Bank had given a specific authorisation are allowed to accept/hold public deposits. Share on: whatsapp
Different types/categories of NBFCs registered with RBI
NBFCs are categorized a) in terms of the type of liabilities into Deposit and Non-Deposit accepting NBFCs, b) non deposit taking NBFCs by their size into systemically important and other non-deposit holding companies (NBFC-NDSI and NBFC-ND) and c) by the…
Whether NBFC required to get registered with RBI & Its Norms
In terms of Section 45-IA of the RBI Act, 1934, no Non-banking Financial company can commence or carry on business of a non-banking financial institution without a) obtaining a certificate of registration from the Bank and without having a Net…
Difference between banks & NBFCs
NBFCs lend and make investments and hence their activities are akin to that of banks; however there are a few differences as given below: i. NBFC cannot accept demand deposits; Share on: whatsapp
What is a Non-Banking Financial Company (NBFC)
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing,…
Modalities for implementation of Atal Pension Yojana (APY)
RBI/2014–15/609 DCBR.BPD (PCB ) Cir. No. 9/12.05.001/2014–15 May 21, 2015 Government of India, Ministry of Finance has announced the launch of Atal Pension Yojana (APY) on May 9, 2015. The scheme, is an universal social security measure specially for the poor and…