In a recent notification, the banking regulator saidthat it had allowed select NBFCs to undertake factoring business subject to satisfaction of certainconditions. With this, the guidelines laid for factoring businesses have been simplified by the RBI. Thiscomes close in heels with analysts revising...
Neither is there a reason for such micro regulation, since the focus has to be on change of control. However, as a practical expedient, NBFCs are encouraged to intimate the periodic changes in board positions to the RBI by way of an intimation. Therefore, the regulator has an intimation ...
NBFC licences enable fintechs to provide loans through their own lending platforms. They can only serve as intermediaries connecting borrowers with banks and other NBFCs if they don't have this license. Fi was established in 2019 by Narayanan and Sumit Gwalani, two former Google executives. It...
approval has been accorded in specific pursuance to the centrum financial services limited’s offer dated february 1, 2021 in response to the expression of interest notification dated november 3, 2020, objectives of the rbi initiative the objectives of setting up of small finance banks are as ...
As per the Finance Ministry’s notification, five categories of activities, when conducted in the course of business on behalf of or for another person, are included in the ambit of PMLA. These categories are given below: Acting as a formation agent of companies and limited liability partnership...
the government can notify that “any provision” of the act will not apply to a specific data fiduciary or class of data fiduciaries. The government can further specify how long this exemption will be applicable through notification. Neither of these details are present in the current set of ru...
of the parameters are observed as per four continuous quarterly financial statements, one of which should be Annual Audited Financial Statement (subject to assessment by RBI); and b) based on Supervisory comfort of the RBI, including an assessment on sustainability of ...
22. Co-branding arrangement between banks and NBFCs for Credit Cards NBFCs, which desire to enter into a co-branding arrangement for issue of credit cards with a card-issuer, shall also be guided by the Guidelines on issue of Co-Branded Credit Cards contained in the respective M...
CBDT said the notification shall be effective from 1st April, 2024. It shall apply in relation to the assessment year 2024-25 and subsequent assessment years. CII number helps in finding out the long term capital gains an assesse shall pay taxes when he/she files ITR (Income Tax Return) ...
The government has issued a notification for setting up of 7 Mega Integrated Textile Region and Apparel in 2021. It was launched with a total outlay of Rs 4,445 crores. It is inspired by the 5F (Farm to Fibre to Factory to Fashion to Foreign) vision ...