Non-Financial Banking Company (NBFC)
NBFC MEANS- An NBFC (Non-Banking Financial Company) is a financial institution registered under the Companies Act, 2013 (or the earlier Companies Act, 1956). Unlike traditional banks, NBFCs are involved in…
ACQUISITION OF NON BANKING FINANCIAL COMPANY (NBFC)
What is NBFC takeover? NBFC stands for Non-Banking Financial Company registered under the Companies Act. Its main business activity is giving loans and advances, assets financing, investing in shares, debentures…
Compounding of Contraventions under FEMA 1999
What does that mean ? In general sense, compounding means settling matters by a payment of penalty decide by authority. It is “doing the default good”. It is an speedy…
Reserve Bank constitutes an Internal Working Group to review extant ownership guidelines and corporate structure for Indian private sector banks
Dated: 12th June 2020 RBI has constituted an Internal Working Group (IWG) to review the extant guidelines on ownership and corporate structure for Indian private sector banks. As the macroeconomic,…
RBI Update: Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (AACS) – Karnala Nagari Sahakari Bank Ltd., Panvel, Raigad (Maharashtra)
It is hereby notified for information of the public that in the exercise of powers vested in it under subsection (1) of Section 35 A of the Banking Regulation Act,…
RBI NOTIFICATION: Extension of timeline for compliance with various payment system requirements
RBI/2019-20/251DPSS.CO.PD.No.1897/02.14.003/2019-20 June 04, 2020 The Chairman / Managing Director / Chief Executive OfficerAll Scheduled Commercial Banks, including Regional Rural Banks /Urban Co-operative Banks / State Co-operative Banks /District Central Co-operative…
RBI Circular: Sovereign Gold Bond Scheme 2020-21 Series III-Issue Price
Dated: 05th June 2020 In terms of GoI notification F.No.4(4)-B(W&M)/2020 and RBI circular IDMD.CDD.No.2729/14.04.050/2019-20 dated April 13, 2020, the Sovereign Gold Bond Scheme 2020-21-Series III will be opened for subscription for the period…