Notifications - Regulating Non-Banking - RBI - Reserve Bank of India
Notifications
May 03, 2010
Overseas Investment by NBFCs- No Objection (NoC) from DNBS, RBI
RBI/2009-10/442 DNBS (PD).CC. No.173/03.10.01 /2009-10 May 03, 2010 All Non-Banking Financial Companies Dear Sir, Overseas Investment by NBFCs- No Objection (NoC) from DNBS, RBI Please refer to Regulation No. 7 of the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2004, dated July 07, 2004, in terms of which an Indian party requires prior approval of the concerned regulatory authorities both in India and abroad, to mak
RBI/2009-10/442 DNBS (PD).CC. No.173/03.10.01 /2009-10 May 03, 2010 All Non-Banking Financial Companies Dear Sir, Overseas Investment by NBFCs- No Objection (NoC) from DNBS, RBI Please refer to Regulation No. 7 of the Foreign Exchange Management (Transfer or Issue of Any Foreign Security) (Amendment) Regulations, 2004, dated July 07, 2004, in terms of which an Indian party requires prior approval of the concerned regulatory authorities both in India and abroad, to mak
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Apr 30, 2010
Know Your Customer (KYC) Norms/ Anti- Money Laundering (AML) Standards/Combating of Financing of Terrorism (CFT)
RBI/2009-10/439 DNBS(PD).CC. No. 172/03.10.42 /2009-10 @@NBSP@@April 30, 2010 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sir, Know Your Customer (KYC) Norms/ Anti- Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) Please refer to Company Circular No 166 dated December 2, 2009 on the captioned subject. Financial Action Task Force (FATF) has issued a Statement dated February 18, 2010 on the subject (Copy enclosed
RBI/2009-10/439 DNBS(PD).CC. No. 172/03.10.42 /2009-10 @@NBSP@@April 30, 2010 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sir, Know Your Customer (KYC) Norms/ Anti- Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) Please refer to Company Circular No 166 dated December 2, 2009 on the captioned subject. Financial Action Task Force (FATF) has issued a Statement dated February 18, 2010 on the subject (Copy enclosed
Apr 23, 2010
List of Terrorist Individuals / Organisations- under UNSCR 1267 (1999) and 1822(2008) on Taliban /Al-Qaida Organisation
RBI/2009-10/427 NBS(PD).CC. No 170 /03.10.42 /2009-10 April 23, 2010 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sir, List of Terrorist Individuals / Organisations- under UNSCR 1267 (1999) and 1822(2008) on Taliban /Al-Qaida Organisation The Chairman of UN Security Council's 1267 Committee has issued a note on January 19, 2010 regarding changes made in the Consolidated List of Individuals and entities linked to Al-Qaida and Taliban (copy
RBI/2009-10/427 NBS(PD).CC. No 170 /03.10.42 /2009-10 April 23, 2010 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sir, List of Terrorist Individuals / Organisations- under UNSCR 1267 (1999) and 1822(2008) on Taliban /Al-Qaida Organisation The Chairman of UN Security Council's 1267 Committee has issued a note on January 19, 2010 regarding changes made in the Consolidated List of Individuals and entities linked to Al-Qaida and Taliban (copy
Apr 23, 2010
NBFCs - Prevention of Money-laundering Amendment Rules, 2009 - Obligation of Banks/FIs
RBI/2009-10/428 DNBS(PD)CC.No 171/03.10.42/2009-10 April 23, 2010 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sir, Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Amendment
RBI/2009-10/428 DNBS(PD)CC.No 171/03.10.42/2009-10 April 23, 2010 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sir, Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Amendment
Apr 22, 2010
Guidelines on Change in or Take Over of the Management of the Business of the Borrower by Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines, 2010
RBI/2009-2010/418 DNBS/ PD (SC/RC) No.@@NBSP@@17/26.03.001/2009-10 April 21, 2010 To All registered Securitisation companies/Reconstruction Companies Dear Sirs, Guidelines on Change in or Take Over of the Management of the Business of the Borrower by Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines, 2010 Please refer to paragraph 115 of the Monetary Policy Statement for the year 2010-11 dated April 20, 2010 (Extract enclosed). In view of
RBI/2009-2010/418 DNBS/ PD (SC/RC) No.@@NBSP@@17/26.03.001/2009-10 April 21, 2010 To All registered Securitisation companies/Reconstruction Companies Dear Sirs, Guidelines on Change in or Take Over of the Management of the Business of the Borrower by Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines, 2010 Please refer to paragraph 115 of the Monetary Policy Statement for the year 2010-11 dated April 20, 2010 (Extract enclosed). In view of
Apr 22, 2010
Submission of Statement of Interest Rate Sensitivity [NBS-ALM3]
RBI / 2009-10/417 DNBS.PD.CC. No.169 /22.05.02/2009-10 April 22, 2010 All NBFCs-ND-SI Dear Sirs, Submission of Statement of Interest Rate Sensitivity [NBS-ALM3] Please refer to Company Circular No 125 dated August 01, 2008 on the Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms. It was advised in terms of paragraph 8 thereof that statement of Interest Rate Sensitivity [NBS-ALM3] shall be filed with the Bank later from the date to b
RBI / 2009-10/417 DNBS.PD.CC. No.169 /22.05.02/2009-10 April 22, 2010 All NBFCs-ND-SI Dear Sirs, Submission of Statement of Interest Rate Sensitivity [NBS-ALM3] Please refer to Company Circular No 125 dated August 01, 2008 on the Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms. It was advised in terms of paragraph 8 thereof that statement of Interest Rate Sensitivity [NBS-ALM3] shall be filed with the Bank later from the date to b
Apr 21, 2010
The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003 - Amendments
RBI/2009-2010/413 DNBS (PD) CC. No. @@NBSP@@18/SCRC/ 26.03.001/2009-2010 April 21, 2010 All registered Securitisation Companies/Reconstruction Companies Dear Sirs, The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003 – Amendments. Please refer to paragraph 113 and 114 of the Monetary Policy Statement for the year 2010-11 dated April 20, 2010 (Extract enclosed). In view of announcement in the Monetary Policy Statement
RBI/2009-2010/413 DNBS (PD) CC. No. @@NBSP@@18/SCRC/ 26.03.001/2009-2010 April 21, 2010 All registered Securitisation Companies/Reconstruction Companies Dear Sirs, The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003 – Amendments. Please refer to paragraph 113 and 114 of the Monetary Policy Statement for the year 2010-11 dated April 20, 2010 (Extract enclosed). In view of announcement in the Monetary Policy Statement
Apr 21, 2010
The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003 - Amendments
RBI/2009-2010/414 DNBS (PD) CC. No.19/SCRC/26.03.001/2009-2010 April 21, 2010 All registered Securitisation Companies/Reconstruction Companies Dear Sirs, The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003 – Amendments. Please refer to paragraph 113 and 114 of the Monetary Policy Statement for the year 2010-11 dated April 20, 2010 (Extract enclosed). 2. In terms of paragraph 5(v) of the Securitisation Companies and
RBI/2009-2010/414 DNBS (PD) CC. No.19/SCRC/26.03.001/2009-2010 April 21, 2010 All registered Securitisation Companies/Reconstruction Companies Dear Sirs, The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003 – Amendments. Please refer to paragraph 113 and 114 of the Monetary Policy Statement for the year 2010-11 dated April 20, 2010 (Extract enclosed). 2. In terms of paragraph 5(v) of the Securitisation Companies and
Feb 12, 2010
Infrastructure Finance Companies
RBI/2009-10/316 DNBS.PD. CC No.168/03.02.089 /2009-10 February 12 , 2010 All Non-Banking Financial Companies excluding Residuary Non-Banking Companies Dear Sir, Infrastructure Finance Companies Please refer to paragraph 178 of the Second Quarter Review of the Monetary Policy for the year 2009-10. NBFCs-ND-SI engaged predominantly in infrastructure financing have represented to the Reserve Bank that there should be a separate category of infrastructure financing NBFCs
RBI/2009-10/316 DNBS.PD. CC No.168/03.02.089 /2009-10 February 12 , 2010 All Non-Banking Financial Companies excluding Residuary Non-Banking Companies Dear Sir, Infrastructure Finance Companies Please refer to paragraph 178 of the Second Quarter Review of the Monetary Policy for the year 2009-10. NBFCs-ND-SI engaged predominantly in infrastructure financing have represented to the Reserve Bank that there should be a separate category of infrastructure financing NBFCs
Feb 04, 2010
Compliance with FDI norms-Half yearly certificate from Statutory Auditors of NBFCs
RBI/2009-10/304 DNBS (PD).CC. No 167 /03.10.01 /2009-10 February 04, 2010 All Non-Banking Financial Companies Dear Sir, Compliance with FDI norms-Half yearly certificate from Statutory Auditors of NBFCs NBFCs having FDI whether under automatic route or under approval route have to comply with the stipulated minimum capitalisation norms and other relevant terms and conditions, as amended from time to time under which FDI is permitted. 2. As such these NBFCs are require
RBI/2009-10/304 DNBS (PD).CC. No 167 /03.10.01 /2009-10 February 04, 2010 All Non-Banking Financial Companies Dear Sir, Compliance with FDI norms-Half yearly certificate from Statutory Auditors of NBFCs NBFCs having FDI whether under automatic route or under approval route have to comply with the stipulated minimum capitalisation norms and other relevant terms and conditions, as amended from time to time under which FDI is permitted. 2. As such these NBFCs are require
Dec 02, 2009
NBFCs - KYC Norms/AML Standards/Combating Financing of Terrorism
RBI/2009-10/244 DNBS(PD).CC. No 166 /03.10.42 /2009-10 December 2, 2009 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sir, Know Your Customer (KYC) Norms/ Anti- Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) Financial Action Task Force (FATF) has issued a Statement on October 16, 2009 on risks arising from the deficiencies in AML/CFT regime of Uzbekistan, Iran, Pakistan, Turkmenistan, Sao Tome and Principe on t
RBI/2009-10/244 DNBS(PD).CC. No 166 /03.10.42 /2009-10 December 2, 2009 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sir, Know Your Customer (KYC) Norms/ Anti- Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT) Financial Action Task Force (FATF) has issued a Statement on October 16, 2009 on risks arising from the deficiencies in AML/CFT regime of Uzbekistan, Iran, Pakistan, Turkmenistan, Sao Tome and Principe on t
Dec 01, 2009
Capital Adequacy - Risk weightage on Lending through Collateralized Borrowing and Lending Obligation (CBLO)
RBI/2009-10/239 DNBS.PD/CC.No.165/03.05.002/2009-10 December 1, 2009 All NBFCs Dear Sir, Capital Adequacy - Risk weightage on Lending through Collateralized Borrowing and Lending Obligation (CBLO) Investing by NBFCs in instruments like Collateralized Borrowing@@NBSP@@and Lending Obligations (CBLOs) results in their exposure to Central Counter Parties (CCPs) like Clearing Corporation of India Ltd. (CCIL). 2. It is therefore clarified that the counterparty credit risk,
RBI/2009-10/239 DNBS.PD/CC.No.165/03.05.002/2009-10 December 1, 2009 All NBFCs Dear Sir, Capital Adequacy - Risk weightage on Lending through Collateralized Borrowing and Lending Obligation (CBLO) Investing by NBFCs in instruments like Collateralized Borrowing@@NBSP@@and Lending Obligations (CBLOs) results in their exposure to Central Counter Parties (CCPs) like Clearing Corporation of India Ltd. (CCIL). 2. It is therefore clarified that the counterparty credit risk,
Nov 13, 2009
NBFCs - PMLA, 2002 - Obligations of NBFCs
RBI/2009-10/ 220 DNBS(PD). CC 164/03.10.042/ 2009- 10 November 13, 2009 All Non-Banking Financial Companies, Residuary Non-Banking Companies Dear Sir, "Prevention of Money laundering Act, 2002 – Obligations of@@NBSP@@ NBFCs in terms of Rules notified thereunder' Please refer to the Master Circular No. 152 dated July 01, 2009 on @@NBSP@@the captioned subject. All NBFCs (including RNBCs) are advised to take note of modifications to the above circular as under: Preservat
RBI/2009-10/ 220 DNBS(PD). CC 164/03.10.042/ 2009- 10 November 13, 2009 All Non-Banking Financial Companies, Residuary Non-Banking Companies Dear Sir, "Prevention of Money laundering Act, 2002 – Obligations of@@NBSP@@ NBFCs in terms of Rules notified thereunder' Please refer to the Master Circular No. 152 dated July 01, 2009 on @@NBSP@@the captioned subject. All NBFCs (including RNBCs) are advised to take note of modifications to the above circular as under: Preservat
Nov 13, 2009
NBFCs - KYC/AML Standards
RBI/2009-10/ 219 DNBS(PD). CC 163/03.10.042/ 2009- 10 November 13, 2009 All Non-Banking Financial Companies, Residuary Non-Banking Companies Dear Sir, Know Your Customer (KYC) Guidelines / Anti-Money Laundering (AML) Standards ` Please refer to the Master Circular No. 151 dated July 01, 2009 on the captioned subject. All NBFCs (including RNBCs) are advised to take note of modifications to the above circular as under: Accounts of Politically Exposed Persons (PEPs) 2.@@
RBI/2009-10/ 219 DNBS(PD). CC 163/03.10.042/ 2009- 10 November 13, 2009 All Non-Banking Financial Companies, Residuary Non-Banking Companies Dear Sir, Know Your Customer (KYC) Guidelines / Anti-Money Laundering (AML) Standards ` Please refer to the Master Circular No. 151 dated July 01, 2009 on the captioned subject. All NBFCs (including RNBCs) are advised to take note of modifications to the above circular as under: Accounts of Politically Exposed Persons (PEPs) 2.@@
Oct 22, 2009
Submission of certificate from Statutory Auditor to the Bank
RBI/2009-10/187 DNBS (PD) CC. No. 162/03.05.002/2009-2010 @@NBSP@@October 22 , 2009 All Non-Banking Finance Companies Dear Sir Submission of@@NBSP@@ certificate from Statutory Auditor to the Bank In terms of Para No. 15 of Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 and Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007,@@NBSP@@ every no
RBI/2009-10/187 DNBS (PD) CC. No. 162/03.05.002/2009-2010 @@NBSP@@October 22 , 2009 All Non-Banking Finance Companies Dear Sir Submission of@@NBSP@@ certificate from Statutory Auditor to the Bank In terms of Para No. 15 of Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 and Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007,@@NBSP@@ every no
Sep 18, 2009
Introduction of Interest Rate Futures- NBFCs
RBI/2009-10/165 DNBS.PD.CC.No.161/3.10.01/ 2009-10@@NBSP@@ @@NBSP@@September 18,@@NBSP@@ 2009 All NBFCs (excluding RNBCs) Dear Sir Introduction of Interest Rate Futures- NBFCs Please refer to the Directions issued by the Reserve Bank of India @@NBSP@@in terms of Notification No. FMD. 1 /ED(VKS) - 2009 dated August 28, 2009, covering the framework for trading of Interest Rate Futures (IRFs) in recognized exchanges in India. 2.@@NBSP@@@@NBSP@@ It has been decided that N
RBI/2009-10/165 DNBS.PD.CC.No.161/3.10.01/ 2009-10@@NBSP@@ @@NBSP@@September 18,@@NBSP@@ 2009 All NBFCs (excluding RNBCs) Dear Sir Introduction of Interest Rate Futures- NBFCs Please refer to the Directions issued by the Reserve Bank of India @@NBSP@@in terms of Notification No. FMD. 1 /ED(VKS) - 2009 dated August 28, 2009, covering the framework for trading of Interest Rate Futures (IRFs) in recognized exchanges in India. 2.@@NBSP@@@@NBSP@@ It has been decided that N
Sep 17, 2009
RBI approval required for acquisition/transfer of control of NBFCs accepting deposits
RBI/2009-10/162 DNBS (PD) CC.No.@@NBSP@@160/03.10.001/2009-10 September 17, 2009 All deposit taking NBFCs (excluding RNBCs) Dear Sirs, Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of NBFCs accepting deposits Under Section 45 IA (4)(c) of the RBI Act, 1934, a certificate of Registration can only be given to a company if the Bank is satisfied, inter alia, that the general character of the management or the proposed managem
RBI/2009-10/162 DNBS (PD) CC.No.@@NBSP@@160/03.10.001/2009-10 September 17, 2009 All deposit taking NBFCs (excluding RNBCs) Dear Sirs, Requirement for obtaining prior approval of RBI in cases of acquisition/ transfer of control of NBFCs accepting deposits Under Section 45 IA (4)(c) of the RBI Act, 1934, a certificate of Registration can only be given to a company if the Bank is satisfied, inter alia, that the general character of the management or the proposed managem
Aug 28, 2009
Acceptance of Deposits by Chit Fund Companies
RBI/2009-10/133 DNBS (PD) CC.No. 159 /03.03.01/2009-10 August 28, 2009 To All Miscellaneous Non-Banking Companies (MNBCs) Dear Sirs, Acceptance of Deposits by Chit Fund Companies The Reserve Bank of India, having considered it necessary in the public interest and being satisfied that for the purpose of enabling the Bank to regulate the credit system of the country to its advantage, it is necessary to amend the Miscellaneous Non-Banking Companies (Reserve Bank) Directi
RBI/2009-10/133 DNBS (PD) CC.No. 159 /03.03.01/2009-10 August 28, 2009 To All Miscellaneous Non-Banking Companies (MNBCs) Dear Sirs, Acceptance of Deposits by Chit Fund Companies The Reserve Bank of India, having considered it necessary in the public interest and being satisfied that for the purpose of enabling the Bank to regulate the credit system of the country to its advantage, it is necessary to amend the Miscellaneous Non-Banking Companies (Reserve Bank) Directi
Jun 09, 2009
NBFCs - Treatment of Deferred Tax Assets/Deferred Tax Liabilities for Computaion of Capital
RBI/2008-09/494 DNBS.PD/ CC.No. 142 / 03.05.002 /2008-09 June 9, 2009 All NBFCs Dear Sir, Accounting for taxes on income- Accounting Standard 22- Treatment of deferred tax assets (DTA) and deferred tax liabilities (DTL) for computation of capital NBFCs were advised vide DNBS (PD) C.C. No. 124/ 03.05.002/2008-09 dated July 31, 2008 that in terms of Accounting Standard 22, the tax effects of timing differences are included in the tax expense in the statement of profit a
RBI/2008-09/494 DNBS.PD/ CC.No. 142 / 03.05.002 /2008-09 June 9, 2009 All NBFCs Dear Sir, Accounting for taxes on income- Accounting Standard 22- Treatment of deferred tax assets (DTA) and deferred tax liabilities (DTL) for computation of capital NBFCs were advised vide DNBS (PD) C.C. No. 124/ 03.05.002/2008-09 dated July 31, 2008 that in terms of Accounting Standard 22, the tax effects of timing differences are included in the tax expense in the statement of profit a
Jun 04, 2009
Applicability of NBFCs-ND-SI regulations
RBI/2008-09/491 DNBS (PD) CC.No. 141/03.10.001/2008-09 June 4, 2009 All Non-Deposit taking Non-Banking Finance Companies Dear Sirs, Applicability of NBFCs-ND-SI regulations In terms of circular DNBS (RID) C.C. No. 57/02.05.15/2005-06 dated September 6, 2005, all NBFCs with assets size of Rs 100 crore and above, and not accepting / holding public deposits were required to submit a Monthly Return on Important Financial Parameters to the Regional Office under whose juris
RBI/2008-09/491 DNBS (PD) CC.No. 141/03.10.001/2008-09 June 4, 2009 All Non-Deposit taking Non-Banking Finance Companies Dear Sirs, Applicability of NBFCs-ND-SI regulations In terms of circular DNBS (RID) C.C. No. 57/02.05.15/2005-06 dated September 6, 2005, all NBFCs with assets size of Rs 100 crore and above, and not accepting / holding public deposits were required to submit a Monthly Return on Important Financial Parameters to the Regional Office under whose juris
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