In the current scenario, the NBFC market is serving as a driver for the country's overall economic growth. In order to provide the required regulatory help for the sector and also to maintain financial stability over the long term, the RBI is constantly trying to bring about the necessary ch...
Learn about auditing Non-Banking Financial Services (NBFCs) with Enterslice. Explore different types of NBFC audits for compliance and accuracy.
In February 2014, the RBI revised the formula for pricing of credit by NBFC-MFIs, declaring that the ceiling on interest rate would be the average base rate of the largest five commercial banks by assets multiplied by 2.75, applicable from April 2014 (RBI, 2014d). The Government sought to...
As you are aware, no matter what industry a firm is in, debt can hinder its growth. Even though there may be many different types of financial reporting depending on the purpose or programme, almost all solutions will help you track your current assets divided by the current liabilities on ...
They focus on the idea of making as much profit as they can. 3. Capital Assessment Financial management also involves assessing the money a company requires and its spending patterns. This includes assets, advertising expenses, reserves, and profitability considerations for stability. 4. Formulation ...
The financial services industry as a whole is concerned with funds and, more precisely, acts as a bridge in transferring money between those with a surplus and those with a deficit.
Banks and financial institutions to classify their ASSETS into four broad groups, viz, Standard, Sub-standard, Doubtful and Loss. RBI to be primarily responsible for the regulation of the banking system. Larger role for SEBI, particularly as a market regulator rather than as a controlling authorit...
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The licences ofNBFCshave been cancelled for violating RBI guidelines on outsourcing and Fair Practices Code in their digital lending operations. As per RBI, these five NBFCs will not carry out the business of a Non-Banking Financial Institution (NBFI), as defined in clause (a) of Section 45...
which describes them as companies "predominantly engaged in a financial activity" when more than 85% of their consolidated annual gross revenues or consolidated assets are financial in nature.1Examples of NBFCs include investment banks, mortgage lenders, money market funds, insurance companies, hedge ...