MUMBAI: A senior Reserve Bank official on Friday said the final guidelines on project loans will "appropriately reflect" the industry's concerns on the subject.Acknowledging that the central bank is receiving feedback on the draft guidelines released on May 24, RBI Executive Director R Lakshmi...
Mumbai Infrastructure Investment Trusts (InvITs) enjoy immunity from insolvency proceedings and should fall under the Insolvency and Bankruptcy Code, a senior SBI official said on Friday.Ashwini Kumar Tewari, managing director of the bank, said lenders need assurance that they can recover...
New Delhi [India], As part of the preparations for the Union Budget, Finance Minister Nirmala Sitharaman chaired the second pre-budget consultation here today with leading experts from the financial and capital markets sector.The discussions covered topics ranging from the NBFC sector, GST...
Addressing the Global Conference on Financial Resilience here, the RBI Governor said, "Integrating advanced and emerging technologies such as AI, machine learning and big data analytics into organizational functioning can transform the way companies operate." financial institutions. AI and...
New Delhi: Financial sector players on Thursday sought tax concessions in the upcoming Budget for FY 2020-25 to boost the market.At the pre-budget meeting with Finance Minister Nirmala Sitharaman here, some players urged the government to fix tax arbitrage wherever it exists.This was the...
Mumbai, The Reserve Bank on Wednesday invited applications for recognition of self-regulatory organizations (SROs) for the NBFC sector under the central bank's omnibus framework.The applicant must have acquired a minimum net worth of Rs 2 crore within a period of one year after being...
Mumbai: RBI Governor Shaktikanta Das on Friday said banks need to re-strategize their business to deal with the persistent gap between credit and deposit growth.He also said that further action could be taken to reduce the increase in unsecured loans, if needed.In November last year, RBI had...
Mumbai (Maharashtra) [India], India's banking system is strong and the gross NPA (non-performing assets) of scheduled commercial banks and NBFCs is below 3 percent, RBI (Reserve Bank of India) Governor Shaktikanta Das said during the monetary policy Emphasized this point. Announcement on Friday...
"In general, we have seen that the guidelines on key fact statements are followed, but some banks and NBFCs still charge charges etc. which are not specified or disclosed in the statement," Das said at a press conference after the Monetary Policy Committee. is not done." meeting."It has also...
Mumbai: Reserve Bank Deputy Governor Swaminathan J has cautioned that excessive reliance on unsecured loans and capital market funding could spell 'misery' for non-bank lenders in the long run.Addressing heads of assurance functions of non-bank financial companies at a conference organized by...
New Delhi [India], The Reserve Bank of India (RBI) on Thursday cautioned non-banking financial companies (NBFCs) against certain systemic risks, complexity and interconnectedness, Swaminathan said while addressing a conference of heads of NBFCs held in Mumbai. J, Deputy Governor RBI said many...
New Delhi: Moody's Ratings on Tuesday said the Indian economy is projected to grow 6.6 per cent in the current fiscal year and said strong credit demand driven by strong economic growth will support the profitability of the NBFC sector.“We expect India's economy to expand 6.6 per cent in the...
MUMBAI: The Reserve Bank on Tuesday updated its "guidance note" on operational risk management for the financial sector, and extended it to NBFCs including housing finance companies.Commercial banks were included in the 2005 'Guidance Note on Operational Risk Management'.The Reserve Bank of...
RBI in its circular said that during onsite checks of regulated entities (banks, NBFCs and housing finance companies) for the period ending March 31, 2023, instances of lenders resorting to certain unfair practices in charging interest came to light. ,"Therefore, in the interest of fairness...
LSPs are entities appointed by banks or NBFCs to perform certain functions such as customer acquisition, underwriting and loan recovery on digital platforms. In some cases, a regulated entity may also act as an LSP.RBI's draft guidelines state that banks and NBFCs should ensure that their LSPs...
New Delhi, Crisil Ratings on Monday said the co-lending assets under management (AUM) of non-banking financial companies (NBFCs) is close to Rs 1 lakh crore, more than five years after the model came into existence.A study of nearly 100 NBFCs that account for over 90 per cent of the sector's...