Process of Getting an NBFC License in India According to the RBI, any company where income from financial assets makes up more than 50% of its gross income and financial assets constitute more than 50% of its total assets, can be called an NBFC. ...
In India, as per Key Facts Statement (KFS) for Loans & Advances the term APR ”is the annual cost of credit to the borrower which includes interest rate and all other charges associated with the credit facility”. The said circular covers retail loans, MSME term loans, digital loans, MFI...
Here’s where an escrow account in India steps in. It reduces the risk of fraud as it acts as the third party between the two parties. Moreover, it helps control the cash flow between the two parties. Additionally, since September 2022, escrow accounts have become indispensable for co-lend...
Reserve Bank of India had introduced a Prompt Corrective Action Framework (PCA) for Scheduled Commercial Banks in 2002 and the same has been reviewed from time to time based on the experience gained and developments in the banking system. The objective of the PCA Fr...