NBFC
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Non-Banking Financial Companies (NBFCs) are financial institutions that are registered under the Companies Act and provide financial services like loans, acquiring shares/stocks/bonds, leasing, and insurance. NBFCs play an important role in sectors like transport and infrastructure by providing financing and generating employment. They help broaden economic development and cater to semi-urban, rural, and first-time users. While NBFCs play a significant role in financing, they differ from banks in that they cannot accept demand deposits, are not part of the payment system, and do not offer deposit insurance.
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NON BANKING FINANCIAL COMPANIES
INTRODUCTION ON NBFC'S INTRODUCTION, IMPORTANCE, REGULATIONS ON NBFC'S CATEGORIZATION BY RBI TYPES OF NBFC'S AND BANKS TOP FIVE NBFCS'S IN INDIA
Non-Banking Financial Company (NBFC)
A Non-Banking Financial Company (NBFC) is a non-banking institution that conducts financial services like loans, acquisitions, leasing, and insurance. To be considered an NBFC, financial assets must make up over 50% of total assets and financial income must be over 50% of gross income. NBFCs play important roles in development but cannot accept demand deposits or issue checks like banks. Major NBFCs in India include Aditya Birla Finance, which provides services like corporate finance and project financing.
Non-Banking Financial Companies
This document provides an overview of non-banking financial companies (NBFCs) in India. It defines NBFCs and distinguishes them from banks. It outlines the registration process for NBFCs and classifications of NBFCs. The document also discusses why NBFCs are important for the Indian financial system, highlights of the NBFC sector, compliance requirements, and recent regulatory changes aimed to bring parity between NBFCs and banks. Suggestions are provided such as opening new avenues of fund raising to reduce NBFCs' reliance on deposits and giving systemically important NBFCs coverage under the SARFAESI Act. In conclusion, the document states that the challenge is for NBFCs to grow pr
History of Non-Banking Financial Companies Classification of Non-Banking Co...
History of Non-Banking Financial Companies
Classification of Non-Banking Companies
Classification of Activities of NBFC
Fund Based Activities
Fee Based Activities
Concepts, Growth and Trends of Fee Based And Fund Based Activities.
REGULATORY FRAMEWORK FOR NBFCs in India
This document examines the evolution of regulatory frameworks for non-banking financial companies (NBFCs) in India. It analyzes laws, committee reports, and Reserve Bank of India circulars and finds that NBFCs are converging with the banking sector. The objectives are to understand how regulatory frameworks for NBFCs have changed over time in response to evolving rules and regulations. Key developments include defining NBFCs' principal business, introducing auditing requirements, and establishing separate prudential norms for different types of NBFCs. The conclusion is that with regulatory convergence recommendations, the roadmap is complete to transition shadow banking in India to regular banking.
NBFC , Non Banking Financial Company
NBFC - Non Banking Financial Company/ Non Banking Financial Corporation are companies registered under the Companies Act, 1956
Engaged in the business of
- loans and advances
-acquisition of shares
-stocks
-bonds
-debentures
-securities
but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property
Manoj fm03
Non-Banking Financial Companies (NBFCs) provide important financial services and fulfill key roles in the economy. NBFCs mobilize savings, channel funds into investments, and provide liquidity and stability to capital markets. They offer services like hire purchase, leasing, housing finance, venture capital, and asset management. NBFCs must register with the Reserve Bank of India and are subject to regulations on public deposits, interest rates, and disclosure requirements. They focus on developing sectors like transport and infrastructure while generating employment and wealth. NBFCs also supplement bank credit in rural areas and finance economically weaker sections. There is high demand for NBFCs due to their tailored services, personal attention, and assistance to customers who may
Non Banking Financial Corporations
- The document discusses non-banking financial corporations (NBFCs) in India and how they compare to banks. It notes that NBFCs play an important role in sectors like transport and infrastructure as well as employment and wealth creation.
- NBFCs are regulated by the Reserve Bank of India but have more flexible regulations than banks. For example, it is easier to start an NBFC and they can engage in non-financial activities. However, they do not have the same legal powers as banks for recovery.
- While NBFCs have grown significantly and cater to more customers, banks still dominate the financial sector in India, having more stringent rules around deposits and priority lending. Overall, NBFCs provide
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NON BANKING FINANCIAL COMPANIES
INTRODUCTION ON NBFC'S INTRODUCTION, IMPORTANCE, REGULATIONS ON NBFC'S CATEGORIZATION BY RBI TYPES OF NBFC'S AND BANKS TOP FIVE NBFCS'S IN INDIA
Non-Banking Financial Company (NBFC)
A Non-Banking Financial Company (NBFC) is a non-banking institution that conducts financial services like loans, acquisitions, leasing, and insurance. To be considered an NBFC, financial assets must make up over 50% of total assets and financial income must be over 50% of gross income. NBFCs play important roles in development but cannot accept demand deposits or issue checks like banks. Major NBFCs in India include Aditya Birla Finance, which provides services like corporate finance and project financing.
Non-Banking Financial Companies
This document provides an overview of non-banking financial companies (NBFCs) in India. It defines NBFCs and distinguishes them from banks. It outlines the registration process for NBFCs and classifications of NBFCs. The document also discusses why NBFCs are important for the Indian financial system, highlights of the NBFC sector, compliance requirements, and recent regulatory changes aimed to bring parity between NBFCs and banks. Suggestions are provided such as opening new avenues of fund raising to reduce NBFCs' reliance on deposits and giving systemically important NBFCs coverage under the SARFAESI Act. In conclusion, the document states that the challenge is for NBFCs to grow pr
History of Non-Banking Financial Companies Classification of Non-Banking Co...
History of Non-Banking Financial Companies
Classification of Non-Banking Companies
Classification of Activities of NBFC
Fund Based Activities
Fee Based Activities
Concepts, Growth and Trends of Fee Based And Fund Based Activities.
REGULATORY FRAMEWORK FOR NBFCs in India
This document examines the evolution of regulatory frameworks for non-banking financial companies (NBFCs) in India. It analyzes laws, committee reports, and Reserve Bank of India circulars and finds that NBFCs are converging with the banking sector. The objectives are to understand how regulatory frameworks for NBFCs have changed over time in response to evolving rules and regulations. Key developments include defining NBFCs' principal business, introducing auditing requirements, and establishing separate prudential norms for different types of NBFCs. The conclusion is that with regulatory convergence recommendations, the roadmap is complete to transition shadow banking in India to regular banking.
NBFC , Non Banking Financial Company
NBFC - Non Banking Financial Company/ Non Banking Financial Corporation are companies registered under the Companies Act, 1956
Engaged in the business of
- loans and advances
-acquisition of shares
-stocks
-bonds
-debentures
-securities
but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property
Manoj fm03
Non-Banking Financial Companies (NBFCs) provide important financial services and fulfill key roles in the economy. NBFCs mobilize savings, channel funds into investments, and provide liquidity and stability to capital markets. They offer services like hire purchase, leasing, housing finance, venture capital, and asset management. NBFCs must register with the Reserve Bank of India and are subject to regulations on public deposits, interest rates, and disclosure requirements. They focus on developing sectors like transport and infrastructure while generating employment and wealth. NBFCs also supplement bank credit in rural areas and finance economically weaker sections. There is high demand for NBFCs due to their tailored services, personal attention, and assistance to customers who may
Non Banking Financial Corporations
- The document discusses non-banking financial corporations (NBFCs) in India and how they compare to banks. It notes that NBFCs play an important role in sectors like transport and infrastructure as well as employment and wealth creation.
- NBFCs are regulated by the Reserve Bank of India but have more flexible regulations than banks. For example, it is easier to start an NBFC and they can engage in non-financial activities. However, they do not have the same legal powers as banks for recovery.
- While NBFCs have grown significantly and cater to more customers, banks still dominate the financial sector in India, having more stringent rules around deposits and priority lending. Overall, NBFCs provide
non banking financial companies
Non-banking financial companies (NBFCs) are financial institutions that provide banking services like loans and credit facilities but do not hold a banking license. NBFCs are registered under the Companies Act and regulated by the Reserve Bank of India. They provide services such as private education funding, retirement planning, money market trading, stock underwriting and portfolio management. Some major NBFCs in India include HDFC, Power Finance Corporation, Reliance Capital, and Infrastructure Development Finance Company. NBFCs play an important role in the Indian financial system by providing quick financing alternatives to businesses without complex banking procedures.
Non banking financial company
Non-banking financial companies (NBFCs) are financial institutions registered under the Companies Act and engaged in lending and investment activities. The document discusses the history and regulation of NBFCs in India. It outlines the various types of NBFCs and their roles in providing credit to sectors underserved by banks. While NBFCs cannot accept demand deposits like banks, they play an important role in developing industries and financing first-time buyers. The Reserve Bank of India regulates NBFC registration and prudential norms in India.
Types of Non- Banking Financial Companies
In India, there is a total of 10,190 operating non- banking financial companies as at September end 2018. Out of this 10,190, more than 95 per cent (10,082) are non- deposit taking NBFCs.
Non Banking Financing Companies Presentation
Non-bank financial companies ( NBFCs ) are financial institutions that provide banking services without meeting the legal definition of a bank, i.e. one that does not hold a banking license. These institutions typically are restricted from taking deposits from the public depending on the jurisdiction. Nonetheless, operations of these institutions are often still covered under a country's banking regulations.
Non banking finance corporation
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act that engages in financial activities like lending, investing, and acquiring financial assets, but does not accept demand deposits. Key points about NBFCs are that they cannot accept demand deposits or offer the deposit insurance available to banks. If an NBFC defaults on deposits, depositors can seek legal recourse through consumer forums or civil suits. Regulations require NBFCs to have a minimum net worth to accept public deposits and prescribe ceiling interest rates and disclosure requirements.
Non banking financial companies
This document provides information about non-banking financial companies (NBFCs) in India. It defines NBFCs as non-banking institutions that conduct lending, acquisition, and leasing activities but do not accept demand deposits. NBFCs are divided into categories including asset finance companies, investment companies, and loan companies. Key differences between NBFCs and banks are that NBFCs cannot accept demand deposits or issue checks. The Reserve Bank of India regulates NBFCs and places restrictions on their acceptance of public deposits.
Nbfc by ashok srikrishna
Non-banking financial companies (NBFCs) are financial institutions that are registered under the Companies Act and provide financial services like loans and advances. The key differences between NBFCs and banks are that NBFCs cannot accept demand deposits and do not have checking facilities. There are different types of NBFCs including asset finance companies, investment companies, and loan companies. NBFCs play an important role in financing sectors like transportation and providing credit to those not served by banks. However, NBFCs also have higher costs and non-performing assets compared to banks.
NON BANKING FINANCIAL COMPANIES (NBFCS)
This document defines and describes non-banking financial companies (NBFCs) in India. It states that NBFCs are companies registered under the Companies Act of 2013 that are engaged in financial activities like lending, leasing, investments, but do not carry out regular banking activities. NBFCs must be registered with the Reserve Bank of India and comply with regulations around minimum capital, liquid assets, public deposits, interest rates, and credit ratings. The document also outlines different types of NBFCs including mutual benefit companies, investment companies, equipment leasing companies, hire purchase companies, and loan companies.
Non banking finance companies
This document provides information about non-banking financial companies (NBFCs) in India. It discusses what NBFCs are, how they differ from banks, the major categories of NBFCs, and the regulations around NBFCs accepting deposits. Specifically, it notes that NBFCs are financial institutions that are registered as non-banking companies under the Companies Act of 1956. While they provide similar financial services to banks, NBFCs have some key restrictions compared to banks, such as an inability to accept demand deposits or issue cheques. The document outlines the six major categories of NBFCs in India and explains the regulations around which NBFCs are allowed to accept public deposits.
To recognize the nbfc loan market
The document discusses the Indian loan market and the roles of non-banking financial companies (NBFCs) and banks in providing loans. It notes that the Indian loan market is expected to grow significantly between 2011 and 2016. While banks traditionally provided most loans, NBFCs have grown to fill gaps by lending to segments that banks often neglect, such as rural and informal sector customers. However, increased competition from banks and high costs of funds present challenges for NBFCs. To thrive, NBFCs will need to focus on their strengths like specialized products and customer services while expanding into new markets.
Introduction to Non-Banking Financial Companies(NBFCs) Role and Classification
Non-banking financial companies (NBFCs) provide financial services like banks but are not subject to the Banking Regulation Act of 1949. NBFCs engage in activities like equipment leasing, hire purchase, housing finance, and investment/loans but have some limitations compared to banks. The document discusses the roles and various classifications of NBFCs such as leasing companies, housing finance companies, investment companies, loan companies, mutual benefit companies, chit fund companies, and residuary non-banking companies. NBFCs generally charge higher interest rates than banks and have regulatory oversight from bodies like SEBI and RBI rather than just the Banking Regulation Act.
Nbfc
The document discusses non-banking financial companies (NBFCs) in India. It notes that NBFCs are financial institutions registered under the Companies Act of 1956 that primarily engage in lending and accepting deposits. Unlike banks, NBFCs cannot accept demand deposits or issue checks. The document outlines the different types of NBFCs including equipment leasing companies, hire purchase companies, loan companies, investment companies, and infrastructure finance companies. It provides examples of NBFCs and discusses their key functions like providing loans and advances, acquiring shares, leasing, insurance, and hire purchasing.
Nbfc in india
Non-banking financial companies (NBFCs) provide financial services like loans and investing in stocks without taking deposits. Mahindra and Mahindra Financial Services is a leading NBFC in India that provides financing for vehicles and farm equipment, especially in rural areas. It has over 450 branches and aims to be the preferred financial services provider in rural India. The company focuses on inclusive growth and currently employs over 6,200 people locally. It offers a variety of loan and insurance products and has strong relationships with dealers and customers after over 70 years of operations.
Nbfc
This document provides an overview of non-banking financial companies (NBFCs) in India. It defines NBFCs and outlines their role in the Indian financial system. It also describes the different types of NBFCs according to the Reserve Bank of India's classification system and summarizes the eligibility criteria, differences between NBFCs and banks, and the role of the RBI in regulating NBFCs. The document is intended to educate a group of students on the topic of NBFCs in India.
Nbfc
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of Loans , Advances, Acquisition of shares/stock/bonds/debentures/ securities issued by Government or local authority or other securities of like marketable nature, Leasing, Hire-purchase, Insurance business, Chit business.
A non-banking institution which is a company and which has its principal business of receiving deposits under any scheme or arrangement or any other manner, or lending in any manner is also a non-banking financial company (Residuary non-banking company).
NBFC MBA I SEMESTER
This document provides information on non-banking finance companies (NBFCs) in India, including their classification and types. It discusses how NBFCs are classified into different categories based on whether they accept public deposits and their principal business activities. Some key NBFC categories mentioned include asset finance companies, investment companies, loan companies, infrastructure finance companies, and microfinance institutions. The document also briefly outlines the regulations for mutual benefit finance companies and the leasing and hire purchase services that can be provided by NBFCs.
Nbfc
An NBFC is a non-banking financial company registered under the Companies Act of 1956 that is engaged in financial activities like lending, investment, and acquisition but not banking. There are different types of NBFCs including asset finance companies, investment companies, loan companies, infrastructure finance companies, and NBFC factors. Some of the largest NBFCs in India are HDFC, Power Finance Corporation, Reliance Capital, Infrastructure Development Finance Co, and Rural Electricity Corp.
NON - BANKING FINANCIAL COMPANIES IN INDIA & IT'S LEGAL FRAMEWORK
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, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property. A non-banking institution which is a company and has principal business of receiving deposits under any scheme or arrangement in one lump sum or in installments by way of contributions or in any other manner, is also a non-banking financial company (Residuary non-banking company).
impact of nbfc in indian economy
This dissertation examines the impact of non-banking financial companies (NBFCs) on the Indian economy. It begins with an introduction to NBFCs and microfinance in India. It then discusses the objectives and research methodology of the study. The document reviews literature on NBFCs and their role in India. It analyzes the various services provided by NBFCs and their contribution to the financial sector and overall economy. The dissertation also examines challenges faced by NBFCs and recommendations to support their role in economic development. Key topics covered include self-help groups, microfinance models, and the work of organizations providing microfinance services.
Nbfc’s
NBFCs play an important role in consumer finance and factoring in India. They provide financial services like loans, acquisition of financial instruments, leasing, hire purchase, and insurance to those underserved by banks. While they perform bank-like functions, NBFCs cannot accept demand deposits and do not have the same deposit insurance and payment system access as banks. To operate legally, NBFCs must register with the RBI and meet requirements on net owned funds, public deposit acceptance, and credit ratings. NBFCs help expand access to credit for consumers and small businesses.
Nbfc’s
The document discusses non-banking financial companies (NBFCs) in India. It defines NBFCs as financial institutions that are registered under the Companies Act and engage in financial activities like lending but do not hold banking licenses. NBFCs play important roles like providing credit to sectors that banks may neglect, generating employment, and financing economically weaker sections. The document outlines the regulatory framework for NBFCs, including requirements for registration with the Reserve Bank of India, rules around accepting public deposits, and prudential norms on liquidity and reporting.
Non-Banking Finance Companies (NBFC)
This document provides an overview of non-banking financial companies (NBFCs) in India. It discusses that NBFCs are regulated by the Reserve Bank of India and do not accept demand deposits like banks. The document outlines the key requirements for NBFC registration, including a minimum net owned fund of Rs. 25 lakh. It also describes the different types of NBFCs and regulatory norms around deposits, investments, and operations. White label ATMs operated by some NBFCs to provide services in rural areas are also mentioned.
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non banking financial companies
Non-banking financial companies (NBFCs) are financial institutions that provide banking services like loans and credit facilities but do not hold a banking license. NBFCs are registered under the Companies Act and regulated by the Reserve Bank of India. They provide services such as private education funding, retirement planning, money market trading, stock underwriting and portfolio management. Some major NBFCs in India include HDFC, Power Finance Corporation, Reliance Capital, and Infrastructure Development Finance Company. NBFCs play an important role in the Indian financial system by providing quick financing alternatives to businesses without complex banking procedures.
Non banking financial company
Non-banking financial companies (NBFCs) are financial institutions registered under the Companies Act and engaged in lending and investment activities. The document discusses the history and regulation of NBFCs in India. It outlines the various types of NBFCs and their roles in providing credit to sectors underserved by banks. While NBFCs cannot accept demand deposits like banks, they play an important role in developing industries and financing first-time buyers. The Reserve Bank of India regulates NBFC registration and prudential norms in India.
Types of Non- Banking Financial Companies
In India, there is a total of 10,190 operating non- banking financial companies as at September end 2018. Out of this 10,190, more than 95 per cent (10,082) are non- deposit taking NBFCs.
Non Banking Financing Companies Presentation
Non-bank financial companies ( NBFCs ) are financial institutions that provide banking services without meeting the legal definition of a bank, i.e. one that does not hold a banking license. These institutions typically are restricted from taking deposits from the public depending on the jurisdiction. Nonetheless, operations of these institutions are often still covered under a country's banking regulations.
Non banking finance corporation
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act that engages in financial activities like lending, investing, and acquiring financial assets, but does not accept demand deposits. Key points about NBFCs are that they cannot accept demand deposits or offer the deposit insurance available to banks. If an NBFC defaults on deposits, depositors can seek legal recourse through consumer forums or civil suits. Regulations require NBFCs to have a minimum net worth to accept public deposits and prescribe ceiling interest rates and disclosure requirements.
Non banking financial companies
This document provides information about non-banking financial companies (NBFCs) in India. It defines NBFCs as non-banking institutions that conduct lending, acquisition, and leasing activities but do not accept demand deposits. NBFCs are divided into categories including asset finance companies, investment companies, and loan companies. Key differences between NBFCs and banks are that NBFCs cannot accept demand deposits or issue checks. The Reserve Bank of India regulates NBFCs and places restrictions on their acceptance of public deposits.
Nbfc by ashok srikrishna
Non-banking financial companies (NBFCs) are financial institutions that are registered under the Companies Act and provide financial services like loans and advances. The key differences between NBFCs and banks are that NBFCs cannot accept demand deposits and do not have checking facilities. There are different types of NBFCs including asset finance companies, investment companies, and loan companies. NBFCs play an important role in financing sectors like transportation and providing credit to those not served by banks. However, NBFCs also have higher costs and non-performing assets compared to banks.
NON BANKING FINANCIAL COMPANIES (NBFCS)
This document defines and describes non-banking financial companies (NBFCs) in India. It states that NBFCs are companies registered under the Companies Act of 2013 that are engaged in financial activities like lending, leasing, investments, but do not carry out regular banking activities. NBFCs must be registered with the Reserve Bank of India and comply with regulations around minimum capital, liquid assets, public deposits, interest rates, and credit ratings. The document also outlines different types of NBFCs including mutual benefit companies, investment companies, equipment leasing companies, hire purchase companies, and loan companies.
Non banking finance companies
This document provides information about non-banking financial companies (NBFCs) in India. It discusses what NBFCs are, how they differ from banks, the major categories of NBFCs, and the regulations around NBFCs accepting deposits. Specifically, it notes that NBFCs are financial institutions that are registered as non-banking companies under the Companies Act of 1956. While they provide similar financial services to banks, NBFCs have some key restrictions compared to banks, such as an inability to accept demand deposits or issue cheques. The document outlines the six major categories of NBFCs in India and explains the regulations around which NBFCs are allowed to accept public deposits.
To recognize the nbfc loan market
The document discusses the Indian loan market and the roles of non-banking financial companies (NBFCs) and banks in providing loans. It notes that the Indian loan market is expected to grow significantly between 2011 and 2016. While banks traditionally provided most loans, NBFCs have grown to fill gaps by lending to segments that banks often neglect, such as rural and informal sector customers. However, increased competition from banks and high costs of funds present challenges for NBFCs. To thrive, NBFCs will need to focus on their strengths like specialized products and customer services while expanding into new markets.
Introduction to Non-Banking Financial Companies(NBFCs) Role and Classification
Non-banking financial companies (NBFCs) provide financial services like banks but are not subject to the Banking Regulation Act of 1949. NBFCs engage in activities like equipment leasing, hire purchase, housing finance, and investment/loans but have some limitations compared to banks. The document discusses the roles and various classifications of NBFCs such as leasing companies, housing finance companies, investment companies, loan companies, mutual benefit companies, chit fund companies, and residuary non-banking companies. NBFCs generally charge higher interest rates than banks and have regulatory oversight from bodies like SEBI and RBI rather than just the Banking Regulation Act.
Nbfc
The document discusses non-banking financial companies (NBFCs) in India. It notes that NBFCs are financial institutions registered under the Companies Act of 1956 that primarily engage in lending and accepting deposits. Unlike banks, NBFCs cannot accept demand deposits or issue checks. The document outlines the different types of NBFCs including equipment leasing companies, hire purchase companies, loan companies, investment companies, and infrastructure finance companies. It provides examples of NBFCs and discusses their key functions like providing loans and advances, acquiring shares, leasing, insurance, and hire purchasing.
Nbfc in india
Non-banking financial companies (NBFCs) provide financial services like loans and investing in stocks without taking deposits. Mahindra and Mahindra Financial Services is a leading NBFC in India that provides financing for vehicles and farm equipment, especially in rural areas. It has over 450 branches and aims to be the preferred financial services provider in rural India. The company focuses on inclusive growth and currently employs over 6,200 people locally. It offers a variety of loan and insurance products and has strong relationships with dealers and customers after over 70 years of operations.
Nbfc
This document provides an overview of non-banking financial companies (NBFCs) in India. It defines NBFCs and outlines their role in the Indian financial system. It also describes the different types of NBFCs according to the Reserve Bank of India's classification system and summarizes the eligibility criteria, differences between NBFCs and banks, and the role of the RBI in regulating NBFCs. The document is intended to educate a group of students on the topic of NBFCs in India.
Nbfc
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of Loans , Advances, Acquisition of shares/stock/bonds/debentures/ securities issued by Government or local authority or other securities of like marketable nature, Leasing, Hire-purchase, Insurance business, Chit business.
A non-banking institution which is a company and which has its principal business of receiving deposits under any scheme or arrangement or any other manner, or lending in any manner is also a non-banking financial company (Residuary non-banking company).
NBFC MBA I SEMESTER
This document provides information on non-banking finance companies (NBFCs) in India, including their classification and types. It discusses how NBFCs are classified into different categories based on whether they accept public deposits and their principal business activities. Some key NBFC categories mentioned include asset finance companies, investment companies, loan companies, infrastructure finance companies, and microfinance institutions. The document also briefly outlines the regulations for mutual benefit finance companies and the leasing and hire purchase services that can be provided by NBFCs.
Nbfc
An NBFC is a non-banking financial company registered under the Companies Act of 1956 that is engaged in financial activities like lending, investment, and acquisition but not banking. There are different types of NBFCs including asset finance companies, investment companies, loan companies, infrastructure finance companies, and NBFC factors. Some of the largest NBFCs in India are HDFC, Power Finance Corporation, Reliance Capital, Infrastructure Development Finance Co, and Rural Electricity Corp.
NON - BANKING FINANCIAL COMPANIES IN INDIA & IT'S LEGAL FRAMEWORK
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, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property. A non-banking institution which is a company and has principal business of receiving deposits under any scheme or arrangement in one lump sum or in installments by way of contributions or in any other manner, is also a non-banking financial company (Residuary non-banking company).
impact of nbfc in indian economy
This dissertation examines the impact of non-banking financial companies (NBFCs) on the Indian economy. It begins with an introduction to NBFCs and microfinance in India. It then discusses the objectives and research methodology of the study. The document reviews literature on NBFCs and their role in India. It analyzes the various services provided by NBFCs and their contribution to the financial sector and overall economy. The dissertation also examines challenges faced by NBFCs and recommendations to support their role in economic development. Key topics covered include self-help groups, microfinance models, and the work of organizations providing microfinance services.
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Introduction to Non-Banking Financial Companies(NBFCs) Role and Classification
Introduction to Non-Banking Financial Companies(NBFCs) Role and Classification
NON - BANKING FINANCIAL COMPANIES IN INDIA & IT'S LEGAL FRAMEWORK
NON - BANKING FINANCIAL COMPANIES IN INDIA & IT'S LEGAL FRAMEWORK
Similar to NBFC
Nbfc’s
NBFCs play an important role in consumer finance and factoring in India. They provide financial services like loans, acquisition of financial instruments, leasing, hire purchase, and insurance to those underserved by banks. While they perform bank-like functions, NBFCs cannot accept demand deposits and do not have the same deposit insurance and payment system access as banks. To operate legally, NBFCs must register with the RBI and meet requirements on net owned funds, public deposit acceptance, and credit ratings. NBFCs help expand access to credit for consumers and small businesses.
Nbfc’s
The document discusses non-banking financial companies (NBFCs) in India. It defines NBFCs as financial institutions that are registered under the Companies Act and engage in financial activities like lending but do not hold banking licenses. NBFCs play important roles like providing credit to sectors that banks may neglect, generating employment, and financing economically weaker sections. The document outlines the regulatory framework for NBFCs, including requirements for registration with the Reserve Bank of India, rules around accepting public deposits, and prudential norms on liquidity and reporting.
Non-Banking Finance Companies (NBFC)
This document provides an overview of non-banking financial companies (NBFCs) in India. It discusses that NBFCs are regulated by the Reserve Bank of India and do not accept demand deposits like banks. The document outlines the key requirements for NBFC registration, including a minimum net owned fund of Rs. 25 lakh. It also describes the different types of NBFCs and regulatory norms around deposits, investments, and operations. White label ATMs operated by some NBFCs to provide services in rural areas are also mentioned.
Unit 3 topic 7
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INTRODUCTION, HISTORY OF RBI AND CLASSIFICATION OF BANKS
▪ The Reserve Bank of India (RBI) is India's Central banking institution, which controls the monetary policy of the Indian rupee. It is the apex bank in the Indian Banking System.
Non banking financial corporation
NBFCs provide important financial services like lending and investing. They help drive economic development by creating employment, supplying long-term credit for infrastructure and commerce, mobilizing funds, strengthening financial markets, and contributing to growth in national income and GDP. However, NBFCs have some restrictions compared to banks like not accepting demand deposits or issuing cheques.
2.5 CO-OPERATIVE BANKS.pptx
Cooperative banks were established in India in the early 1900s to provide agricultural credit to rural areas where it was inadequate. They aimed to substitute exploitative money lenders and integrate organized and unorganized credit. Cooperative banks continue operating in rural and agricultural financing alongside other institutions like commercial banks and RRBs. They are organized based on cooperation principles and operate on a no-profit basis. While weaker than commercial banks, the government has undertaken various initiatives to strengthen cooperative banks through organizations like NABARD.
Banking industry in india introduction
The document provides an overview of the banking industry in India. It discusses key points:
- The Reserve Bank of India (RBI) acts as the central bank and regulates monetary policy, banking supervision, foreign exchange and more.
- India has a multi-tiered banking structure including retail banking for consumers, international banking, and wholesale banking for large corporations.
- Banks in India must follow regulations around capital requirements, priority sector lending targets, and controlling non-performing assets.
- Performance is measured using metrics like capital adequacy, asset quality, management efficiency, earnings quality, and more.
Non-banking Finance Company(NBFCs)
Non-banking financial companies (NBFCs) are financial institutions that provide banking services without meeting the legal definition of a bank. This document provides an overview of NBFCs in India, including their history, regulations, types, and roles. It defines various types of NBFCs such as investment companies, equipment leasing companies, loan companies, and housing finance companies. It also discusses the historical committees that shaped NBFC regulations and compares NBFCs to banks.
IFS 3.pptx
This document provides information on non-banking financial companies (NBFCs) in India. It defines what an NBFC is, provides historical background on regulations of NBFCs, discusses various committees formed to address NBFC regulations, compares NBFCs and banks, outlines key NBFC regulations, and describes the different types of NBFCs including their roles and business models. The types of NBFCs discussed include mutual benefit companies, investment companies, housing finance companies, equipment leasing companies, loan companies, chit funds, and factoring companies.
Financial institutions
This document provides an overview of various types of financial institutions in India. It defines financial institutions as institutions that collect funds from the public and invest in financial assets rather than tangible assets. It then describes the main functions of financial institutions as liability-asset transformation, size transformation, risk transformation, and maturity transformation. The document proceeds to describe the major types of financial institutions in India, including commercial banks (public sector banks, private sector banks, foreign banks), non-banking financial companies, payment banks, and development banks such as IFCI and IDBI. It discusses some of the challenges facing India's financial system such as non-performing assets and cyber threats.
Non-Banking Financial Corporation (NBFC)
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 2013 or 1956 carrying on the business listed under Section 45 I (c ) of the RBI Act, 1934, i.e.
BTP 1.2.docx
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Financial environment 3
NBFCs are non-banking financial institutions that are registered under the Companies Act and engage in financial activities like lending. The key differences between NBFCs and banks are that (1) NBFCs cannot accept demand deposits, (2) they are not part of the payment and settlement system, and (3) deposit insurance is not available for NBFC depositors. It is mandatory for NBFCs to register with the RBI. Registered NBFCs are classified into asset finance companies, investment companies, and loan companies. NBFCs must meet certain net owned fund requirements to accept public deposits, and there are ceilings on the amount of deposits that can be accepted.
Bank and nbfc’s
This document provides information about non-banking financial companies (NBFCs) and banks in India. It defines NBFCs as financial intermediaries registered under the Companies Act of 1956 that are engaged in activities like lending, acquiring shares/stocks, leasing, hire purchasing, and insurance. NBFCs are classified into traditional and modern types, and include entities like equipment leasing companies, hire purchase companies, loan companies, and investment companies. The document also outlines some key features of NBFCs like mandatory RBI registration and restrictions on accepting public deposits, and compares NBFCs to banks in terms of functions like accepting deposits and granting loans.
NBFC in India and Their Future
NBFCs are non-banking financial institutions that are registered under the Companies Act and engage in financial activities like lending but do not hold bank accounts. They differ from banks in that they cannot accept demand deposits or issue checks. This document discusses the role of NBFCs, their regulation by the RBI, types of NBFCs, requirements for accepting public deposits, and recourse for depositors if an NBFC defaults. It provides definitions of key terms like "deposit" and explains rules around NBFC ratings, interest rates, and downgrading of credit ratings.
Banking notes
The document provides information on Non-Banking Financial Companies (NBFCs) in India. It defines NBFCs as non-banking companies that are principally engaged in financial services like loans, acquisitions, leasing etc. NBFCs are regulated by the Reserve Bank of India and are categorized based on their activities. The key differences between banks and NBFCs are that NBFCs cannot accept demand deposits or issue cheques. The document also lists and describes various types of NBFCs registered with RBI.
Nbfc ppt
Non-Banking Financial Companies (NBFCs) are financial institutions that are registered under the Companies Act and provide banking services like loans and advances but cannot accept demand deposits. [1] NBFCs must be registered with the Reserve Bank of India (RBI) and are regulated by RBI guidelines regarding public deposits, capital adequacy ratios, liquidity requirements, and other operational conditions. [2] Major types of NBFCs include equipment leasing companies, loan companies, investment companies, and residuary non-banking companies. [3]
All you want to know about the NBFC - Enterslice
An NBFC is a non-banking institution that provides banking services like loans and advances. It is registered under the Companies Act and regulated by the RBI. The key types of NBFCs include asset finance companies, investment companies, loan companies, and infrastructure finance companies. NBFCs play an important role in extending credit to underserved segments. While they are less stringently controlled than banks, deposits with NBFCs are not insured. The future of NBFCs in India looks promising as they can help meet the large unmet credit demand, especially as banks face rising bad debts. However, NBFCs must comply with various RBI regulations regarding capitalization, branches, audits, and reporting.
BFSM Unit - I.pptx
The document provides an overview of the Indian banking system, including key definitions, functions of banks, and acts governing banking in India. It discusses primary functions such as accepting deposits and providing loans, as well as secondary functions. The key acts discussed are the RBI Act of 1934, the Negotiable Instruments Act of 1881, and the Banking Regulation Act of 1949. It also outlines the rights and obligations of banks, and provides an overview of bank financial statements including the balance sheet and income statement.
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INTRODUCTION, HISTORY OF RBI AND CLASSIFICATION OF BANKS
INTRODUCTION, HISTORY OF RBI AND CLASSIFICATION OF BANKS
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Nabard
The document summarizes the genesis and functions of the National Bank for Agriculture and Rural Development (NABARD) in India. Key points:
- NABARD was established in 1982 to provide credit and other support services to promote rural development and uplift agriculture.
- It provides refinancing to banks and cooperatives for lending to the farm and non-farm sectors. It also directly finances food processing and rural infrastructure projects.
- In addition to financial functions, NABARD works on development programs related to agriculture, non-farm livelihoods, financial inclusion, and strengthening cooperatives. It also regulates and supervises rural banks.
Pre and post lpg In INDIA
The document discusses the impact of economic reforms on the Indian economy. It outlines how India implemented a system of licensing, permits, and quotas (License Raj) after independence that gave the government control over production and prices. This led to scarcity and balance of payment crises by the 1970s-1980s. In 1991, India needed an IMF bailout that required ending the License Raj. The finance minister's 1991 budget initiated economic reforms focused on liberalization, privatization, and globalization to open the economy.
Sebi(alok singh kanpur )
SEBI (Securities and Exchange Board of India) was established in 1988 to regulate securities markets in India and protect investors. It was granted legal status in 1992. SEBI acts as a watchdog to prevent market manipulation like price rigging and insider trading. It has protective, developmental, and regulatory functions. Its protective functions include checking price rigging and unfair trade practices. Its regulatory functions include framing rules, registering intermediaries like brokers, and inspecting stock exchanges.
Rbi(alok singh kanpur)
The Reserve Bank of India was established in 1935 under the Reserve Bank of India Act. It is headquartered in Mumbai and led by a Governor and up to four Deputy Governors. The RBI sets the cash reserve ratio (CRR) and statutory liquidity ratio (SLR), requiring banks to hold certain percentages of deposits in cash reserves and government securities. This ensures banks maintain enough liquid funds to meet depositor withdrawals and allows the RBI to control monetary policy by managing liquidity levels in the economy.
Indian financial system(alok singh kanpur)
The document discusses the Indian financial system. It describes the circular flow of income between households and firms and the role of the financial market in facilitating the flow of savings from those with surplus to those with deficits. It outlines the key components of the financial system including financial institutions, markets, instruments and services. It provides details on types of financial institutions like banks and non-banking financial companies. It also explains the functions of the financial system like pooling funds, facilitating payments, providing liquidity and enabling capital formation and economic development.
Financial services(alok swingh kanpur)
The document provides information on various financial services like factoring, leasing, merchant banking, and mutual funds. It defines factoring as the selling of invoices or receivables to a third party for cash, explains the key steps in factoring, and discusses the types and costs/benefits. It defines leasing and distinguishes operating vs financial leases. It defines merchant banking as providing various financial services and outlines their roles. It defines mutual funds as a pool of money from investors that is invested in securities according to the fund's objectives.
Capital market(alok singh kanpur)
This document provides an overview of financial markets in India, including the money market and capital market. It defines primary and secondary securities and describes the primary and secondary capital markets. The primary capital market involves new stock issues like IPOs, rights issues, private placements, etc. The secondary capital market allows for trading of existing securities. Some key functions of the secondary capital market/stock exchanges are providing liquidity, pricing securities, ensuring safe transactions, and promoting savings and investment.
Money market(alok singh kanpur)
This document discusses various money market instruments in India including Treasury Bills, Commercial Paper, Certificates of Deposits, and Dated Government Securities. Treasury Bills are short term debt obligations of the government with maturities of one year or less. Commercial Paper and Certificates of Deposits are debt instruments issued by companies and banks respectively with maturities between 7-364 days. Dated Government Securities are longer term bonds issued by the government with maturities between 5-40 years that pay a fixed or floating coupon rate.
Switch level modeling 2 x4
The switch level modeling provides an abstraction between logic and transistor levels. It models transistors as either on or off, conducting or not conducting. Interconnect values are abstracted to a small number of discrete signal strengths. A binary decoder converts binary inputs to unique outputs, used for applications like data demultiplexing and memory address decoding. An example decoder is implemented using basic gates like NOT, NAND in a Verilog program and tested with a testbench that applies inputs over time.
2 x4 decoder using switch level(Alok singh kanpur)
This document describes a student project to design a 2-to-4 decoder using switch level modeling in Verilog. It includes the student's name and registration details, an overview of switch level modeling, descriptions of basic logic gates like NOT, NAND using PMOS and NMOS transistors, the structure of a decoder, a block diagram and truth table for the decoder design, the Verilog code for the decoder module using basic gates, and a test bench module to simulate the decoder.
Basics of digital verilog design(alok singh kanpur)
IT IS ABOUT BEHAVIORAL LEVEL, DATA FLOW MODELLING,GATE LEVEL .
DIFFERENCE BETWEEN VERILOG AND VHDL.
ABSTRACTION
Fpga &;cpld(by alok singh)
This document provides an introduction and overview of FPGA and CPLD devices. It discusses the hierarchy of logic implementations from simple PLDs to complex FPGAs and ASICs. It describes the basic components and architecture of CPLDs and FPGAs, including lookup tables (LUTs), interconnects, I/O blocks, and how they are used to implement logic functions. Examples are provided to illustrate how simple logic functions can be mapped to the resources of a CPLD or FPGA. Major FPGA vendors like Xilinx and their families of devices are also mentioned.
Industrial automation (cold drink factory)
This document summarizes a student's visit to an automated cold drink factory. The student observed how a programmable logic controller (PLC) was used to automate and control the mixing, bottling, and capping processes. Key aspects included using the PLC and sensors to control liquid flow into mixing containers, mixing the liquids, automatically filling bottles on a conveyor belt to a set volume, building pressure in the bottles, and capping the bottles. The entire automated system was designed to increase productivity and efficiency while reducing human labor.
Alok presentation industrial auto
Alok Singh visited Ludhiana Beverages Pvt. Ltd, a private company established in 1994 that produces soft drinks, pineapple juice, and beverages. The company is the first franchise of Coca-Cola in Punjab and has a director named Upendra Goenka. Recently, Ludhiana Beverages commissioned a 100kw solar plant with an annual generation of 132,000kw to reduce its carbon footprint by over 2%.
Electronics Equipments Used in Hospital
The document summarizes various electronic medical equipment the author observed during a hospital visit, including cardiac monitors, ultrasound machines, blood glucose monitors, defibrillators, blood gas analyzers, digital thermometers, IR thermometers, brain wave machines, and sphygmomanometers. For each type of equipment, the document provides details on its use, components, measurements, and specifications. It concludes that electronics have significantly advanced the medical field by discussing how various technologies are used in patient care and treatment.
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where can I find a legit pi merchant online
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the what'sapp contact of my personal pi merchant to trade with
+12349014282
2. Elemental Economics - Mineral demand.pdf
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
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Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
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1. Elemental Economics - Introduction to mining.pdf
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.Financial Assets: Debit vs Equity Securities.pptx
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
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Invest in prosocial funds that earn you an income while improving the world
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NBFC
- 1. Non Banking Financial Companies ALOK Singh(kanpur)
- 2. • 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 • Leasing, hire-purchase, insurance business, chit business.
- 3. Historical Background • The Reserve Bank of India Act, 1934 was amended on 1st December, 1964 by the Reserve Bank Amendment Act, 1963 to include provisions relating to non-banking institutions receiving deposits and financial institutions. • With a view to review the existing framework and address these shortcomings, various committees were formed and reports were submitted by them.
- 4. Regulations • In terms of Section 45-IA of the RBI Act, 1934, it is mandatory that every NBFC should be registered with RBI to commence or carry on any business of non-banking financial institution. • However, to obviate dual regulation, certain categories of NBFCs which are regulated by other regulators are exempted from the requirement of registration with RBI viz. Venture Capital Fund/Merchant Banking companies/Stock broking companies registered with SEBI.
- 5. • Should have a minimum net owned fund of Rs 25 lakh (raised to Rs 200 lakh wefApril 21, 1999). • NBFC have to maintain 10 and 15 per cent of their deposits in liquid assets effectively from January 1 and April 1,1998, respectively. • All NBFCs are not entitled to accept public deposits. Only those NBFCs holding a valid Certificate of Registration with authorization to accept Public Deposits can accept/hold public deposits.
- 6. • They have to create reserve fund and transfer not less than 20 per cent of their net deposits to it every year. • The NBFCs are allowed to accept/renew public deposits for a minimum period of 12 months and maximum period of 60 months. They cannot accept deposits repayable on demand. • NBFCs cannot offer interest rates higher than the ceiling rate prescribed by RBI from time to time. The present ceiling is 11 per cent per annum.
- 7. • They have to obtain a minimum credit rating from anyone of the three credit rating agencies. • NBFCs cannot offer gifts/incentives or any other additional benefit to the depositors
- 8. Role of NBFCs • Development of sectors like Transport & Infrastructure • Substantial employment generation Help & increase wealth creation • Broad base economic development • Major thrust on semi-urban, rural areas & first time buyers / user. • To finance economically weaker sections
- 9. Importance • In the present economic environment it is very difficult to cater need of society by Banks alone so role of Non Banking Finance Companies and Micro Finance Companies become indispensable. • The role of NBFCs as effective financial intermediaries has been well recognised as they have inherent ability to take quicker decisions, assume greater risks, and customise their services and charges more according to the needs of the clients.
- 10. • At present, NBFCs in India have become prominent in a wide range of activities like hire-purchase finance, equipment lease finance, loans, investments, Mutual funds etc. • To help in developing the large number of industries as well as entrepreneur in different sectors of different areas.
- 11. Difference between NBFC and Banks • (i)NBFC cannot accept demand deposits; • ii. NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself; • iii. deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.