Press Releases - Regulating Non-Banking - ଆରବିଆଇ - Reserve Bank of India
ପ୍ରେସ୍ ପ୍ରକାଶନୀ
ଅପ୍ରେଲ 22, 2002
RBI rationalises Prudential Norms for NBFCs
The Reserve Bank of India today announced that the past due period of 30 days for identification of non-performing assets by non-banking finance companies (NBFCs) would be done away with effective from March 31, 2003. As such, a loan asset would become a non-performing asset (NPA) if the instalment or interest remains overdue for six months. Similarly, a lease or hire purchase asset would become NPA if the lease rentals or hire purchase instalment remains overdue for
The Reserve Bank of India today announced that the past due period of 30 days for identification of non-performing assets by non-banking finance companies (NBFCs) would be done away with effective from March 31, 2003. As such, a loan asset would become a non-performing asset (NPA) if the instalment or interest remains overdue for six months. Similarly, a lease or hire purchase asset would become NPA if the lease rentals or hire purchase instalment remains overdue for
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ଅପ୍ରେଲ 11, 2002
Cancellation of the certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has on April 10, 2002 cancelled the certificate of registration granted to S.N. Finance Limited having its registered office at Sri Laxmi, 180, 9th Cross, North of CMH Road, Raghavendra Temple Street, East of Indiranagar Evening College, Indiranagar 1st Stage, Bangalore - 560038. As such, the above company cannot transact the business of
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has on April 10, 2002 cancelled the certificate of registration granted to S.N. Finance Limited having its registered office at Sri Laxmi, 180, 9th Cross, North of CMH Road, Raghavendra Temple Street, East of Indiranagar Evening College, Indiranagar 1st Stage, Bangalore - 560038. As such, the above company cannot transact the business of
ଅପ୍ରେଲ 03, 2002
Cancellation of the certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under sub-section 6 of Section 45 IA of the Reserve Bank of India Act, 1934 and in view of a request made by the said company since it has decided to stop its non-banking finance business, has cancelled on March 26, 2002 the certificate of registration dated November 3, 1998, bearing number 07.00344 issued under Section 45-IA of the Act, to Ganga General Finance Ltd., having its registered office at
The Reserve Bank of India, in exercise of the powers conferred on it under sub-section 6 of Section 45 IA of the Reserve Bank of India Act, 1934 and in view of a request made by the said company since it has decided to stop its non-banking finance business, has cancelled on March 26, 2002 the certificate of registration dated November 3, 1998, bearing number 07.00344 issued under Section 45-IA of the Act, to Ganga General Finance Ltd., having its registered office at
ଅପ୍ରେଲ 02, 2002
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 28, 2002 the application for certificate of registration submitted by M/s. Nilgiri Planters Finance Limited, 27/172, Ramesh Vihar, H.R.M.Building, Kotagiri, Nilgiris for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial ins
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 28, 2002 the application for certificate of registration submitted by M/s. Nilgiri Planters Finance Limited, 27/172, Ramesh Vihar, H.R.M.Building, Kotagiri, Nilgiris for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial ins
ଅପ୍ରେଲ 02, 2002
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 28, 2002 the application for certificate of registration submitted by M/s. Seth Finance and Securities Limited, No.80/1, Govindappa Naicken Street. Chennai 600 001 for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial insti
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 28, 2002 the application for certificate of registration submitted by M/s. Seth Finance and Securities Limited, No.80/1, Govindappa Naicken Street. Chennai 600 001 for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial insti
ଅପ୍ରେଲ 02, 2002
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 28, 2002 the application for certificate of registration submitted by M/s. Shree Manglam Motor & General Finance Ltd., Bhagwati Palace, Samad Road, Aligarh 202001 for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial in
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 28, 2002 the application for certificate of registration submitted by M/s. Shree Manglam Motor & General Finance Ltd., Bhagwati Palace, Samad Road, Aligarh 202001 for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial in
ମାର୍ଚ୍ଚ 22, 2002
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 14, 2002 the application for certificate of registration submitted by M/s. Jharia Finance & Investment Company Limited, 127/198, Juhi, Hamirpur Road, Kanpur, Uttar Pradesh.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the R
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 14, 2002 the application for certificate of registration submitted by M/s. Jharia Finance & Investment Company Limited, 127/198, Juhi, Hamirpur Road, Kanpur, Uttar Pradesh.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the R
ମାର୍ଚ୍ଚ 19, 2002
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 14, 2002 the application for certificate of registration submitted by M/s. Sarvamangla Housing & Finance Ltd., A.P.Bhawan, Korba, Dist - Bilaspur, Chattisgarh, Pin-495677As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Act
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 14, 2002 the application for certificate of registration submitted by M/s. Sarvamangla Housing & Finance Ltd., A.P.Bhawan, Korba, Dist - Bilaspur, Chattisgarh, Pin-495677As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Act
ମାର୍ଚ୍ଚ 16, 2002
Rejection of applications for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 14, 2002 the application for certificate of registration submitted by M/s. Asra India Savings & Investment Limited, No.5, Jupalli Arcade, 5th Floor, Opp. ECIL Bus Terminal, Secunderabad-500 062, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the busine
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 14, 2002 the application for certificate of registration submitted by M/s. Asra India Savings & Investment Limited, No.5, Jupalli Arcade, 5th Floor, Opp. ECIL Bus Terminal, Secunderabad-500 062, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the busine
ମାର୍ଚ୍ଚ 16, 2002
Rejection of applications for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 14, 2002 the application for certificate of registration submitted by Sri Nachiar Venkateswara Swamy Vari Finance Ltd., at No.AG-95, 7th Main Road, Anna Nagar, Chennai-600 040, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking fi
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 14, 2002 the application for certificate of registration submitted by Sri Nachiar Venkateswara Swamy Vari Finance Ltd., at No.AG-95, 7th Main Road, Anna Nagar, Chennai-600 040, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking fi
ମାର୍ଚ୍ଚ 14, 2002
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 9, 2002 the application for certificate of registration submitted by M/s. Khushbu Fincap Ltd., 141, Shopping Centre, Kota (Rajasthan). As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India Act, 1934. The compa
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 9, 2002 the application for certificate of registration submitted by M/s. Khushbu Fincap Ltd., 141, Shopping Centre, Kota (Rajasthan). As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India Act, 1934. The compa
ମାର୍ଚ୍ଚ 14, 2002
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on February 2, 2002 the application for certificate of registration submitted by Shree Padma Leasing and Finance Pvt. Ltd., 6, Sindhi Market Compound, Near Hinduja College, charni Road, Mumbai 400 004. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Secti
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on February 2, 2002 the application for certificate of registration submitted by Shree Padma Leasing and Finance Pvt. Ltd., 6, Sindhi Market Compound, Near Hinduja College, charni Road, Mumbai 400 004. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Secti
ମାର୍ଚ୍ଚ 11, 2002
Rejection of applications for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 9, 2002 the application for certificate of registration submitted by M/s. Vyshnavi Finances Limited, No.16-11-771, Flat No.102, 1st Floor, Tirumala Hills Apartments, Beside SBH Moosarambagh `X' Road, Hyderabad-500 036, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 9, 2002 the application for certificate of registration submitted by M/s. Vyshnavi Finances Limited, No.16-11-771, Flat No.102, 1st Floor, Tirumala Hills Apartments, Beside SBH Moosarambagh `X' Road, Hyderabad-500 036, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot
ମାର୍ଚ୍ଚ 06, 2002
Rejection of applications for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 2, 2002 the application for certificate of registration submitted by Elgi Finance Ltd., having its registered office at Elgi House, Trichy Road, Ramanathapuram, Coimbatore-641 045, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on March 2, 2002 the application for certificate of registration submitted by Elgi Finance Ltd., having its registered office at Elgi House, Trichy Road, Ramanathapuram, Coimbatore-641 045, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking
ମାର୍ଚ୍ଚ 04, 2002
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on February 16, 2002 the application for certificate of registration submitted by Shasun Finance Ltd., at No.13, Nageswara Rao Road, T. Nagar, Chennai-600 017, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as def
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on February 16, 2002 the application for certificate of registration submitted by Shasun Finance Ltd., at No.13, Nageswara Rao Road, T. Nagar, Chennai-600 017, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as def
ମାର୍ଚ୍ଚ 04, 2002
NBFCs to frame Policy for Demand/Call Loans
The Reserve Bank of India today announced that all non-banking finance companies (NBFCs) granting/intending to grant demand/call loans should lay down a policy duly approved by their board of directors. The policy should cover the following aspects : Stipulation of a cut off date within which the repayment of the loan will be demanded/called up. If the cut off date is beyond one year, the sanctioning authority should record specific reasons. Stipulation of the rate of
The Reserve Bank of India today announced that all non-banking finance companies (NBFCs) granting/intending to grant demand/call loans should lay down a policy duly approved by their board of directors. The policy should cover the following aspects : Stipulation of a cut off date within which the repayment of the loan will be demanded/called up. If the cut off date is beyond one year, the sanctioning authority should record specific reasons. Stipulation of the rate of
ଫେବୃଆରୀ 25, 2002
Rejection of applications for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on February 20, 2002 the application for certificate of registration submitted by ICS Finance Ltd., having its registered office at No.21, Venkataswamy Road, R. S. Puram, Coimbatore-641 002, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banki
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on February 20, 2002 the application for certificate of registration submitted by ICS Finance Ltd., having its registered office at No.21, Venkataswamy Road, R. S. Puram, Coimbatore-641 002, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banki
ଫେବୃଆରୀ 25, 2002
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on February 20, 2002 the application for certificate of registration submitted by M/s.Shalivahana Finace Ltd., 94, Minerva House, Sarojini Devi Road, Secunderabad-500 003, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial instit
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on February 20, 2002 the application for certificate of registration submitted by M/s.Shalivahana Finace Ltd., 94, Minerva House, Sarojini Devi Road, Secunderabad-500 003, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial instit
ଫେବୃଆରୀ 25, 2002
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on February 20, 2002 the application for certificate of registration submitted by M/s.Papadiwal Finance & Investments Pvt. Ltd., Door No.15-9-8/14, Mukhtiargunj, Hyderbad-500 012, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking fina
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on February 20, 2002 the application for certificate of registration submitted by M/s.Papadiwal Finance & Investments Pvt. Ltd., Door No.15-9-8/14, Mukhtiargunj, Hyderbad-500 012, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking fina
ଫେବୃଆରୀ 22, 2002
Rejection of applications for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on February 20, 2002 the application for certificate of registration submitted by Crystal Capital Finance (India) Ltd., having its registered office at No.3, Elukadal Agraharam, II Floor, Madurai-625 001, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on February 20, 2002 the application for certificate of registration submitted by Crystal Capital Finance (India) Ltd., having its registered office at No.3, Elukadal Agraharam, II Floor, Madurai-625 001, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business
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