DNBS/PD No. 5266/03.10.001/2007-08 January 24, 2008Draft Guidelines for extending No Objection Certificate (NoC) for opening of branch/subsidiary/Joint Venture/representative office or undertaking investment abroad by NBFCs NBFCs should obtain prior approval of the Bank for opening of subsidiaries/Joint Ventures/representative office abroad or for undertaking investment in foreign entities. The guidelines in place are being reviewed. The application from the NBFC seek

Reserve Bank of India Department of Non-Banking Supervision Central Office, Centre 1 World Trade Centre Cuffe Parade, Colaba Mumbai - 400 005Notification DNBS(PD)MGC No. __ /CGM (PK) - 2008 dated January ___, 2008Guidelines on Registration and Operations of Mortgage Guarantee Company under Section 45L(1)(b) of the Reserve Bank of India Act, 1934 The Reserve Bank of India, in terms of Notification No. DNBS. (MGC) 1 /CGM (PK)- 2008 dated January 15, 2008, issued in term

DNBS. PD. No. 7902/ 03.05.002/2006- 07May 21, 2007To all public deposit taking NBFCsDear Sir, Requirement of minimum Net Owned Fund (NOF) of Rs. 200 lakh for all public deposit taking NBFCs – under Section 45-IA of the Reserve Bank of India Act, 1934As you may be aware, prior to April 21, 1999, the minimum Net Owned Fund (NOF) requirement for the new companies for grant of Certificate of Registration (CoR) to commence business of Non-Banking Financial Institution was

DNBS No. 6625 /03.11.01/2006-07April 2, 2007Non-Banking Financial CompaniesDear Sir, Union Budget Speech for the year 2007-08Regulations for creation of mortgage guarantee companies Please refer to Paragraph 90 of Union Budget Speech – 2007-2008 - Housing Loans (copy of the paragraph enclosed as Annex 1).2. An Internal Group was constituted by the Reserve Bank to formulate regulatory guidelines and to recommend a regulatory guidelines/framework for mortgage guarantee

(i) Applications for loans and their processing (a) Loan application forms should include necessary information which affects the interest of the borrower, so that a meaningful comparison with the terms and conditions offered by other NBFCs can be made and informed decision can be taken by the borrower. (b) The NBFCs should devise a system of giving acknowledgement for receipt of all loan applications. Preferably, the time frame within which loan applications will be