Notifications - Regulating Non-Banking - RBI - Reserve Bank of India
Notifications
Jan 02, 2009
Regulation of excessive interest charged by NBFCs
RBI/2008-09/337 DNBS (PD) C.C. No. 133 /03.10.001/ 2008-09 January 2, 2009 To All NBFCs (excluding RNBCs) Dear Sir, Regulation of excessive interest charged by NBFCs We had vide Company Circular @@NBSP@@DNBS.PD/ CC. No. 95 /03.05.002 /2006-07 dated May 24, 2007 advised all NBFCs, inter alia,@@NBSP@@@@NBSP@@ that the rates of interest beyond a certain level may be seen to be excessive and can neither be sustainable nor be conforming to normal financial practice. Boards
RBI/2008-09/337 DNBS (PD) C.C. No. 133 /03.10.001/ 2008-09 January 2, 2009 To All NBFCs (excluding RNBCs) Dear Sir, Regulation of excessive interest charged by NBFCs We had vide Company Circular @@NBSP@@DNBS.PD/ CC. No. 95 /03.05.002 /2006-07 dated May 24, 2007 advised all NBFCs, inter alia,@@NBSP@@@@NBSP@@ that the rates of interest beyond a certain level may be seen to be excessive and can neither be sustainable nor be conforming to normal financial practice. Boards
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Dec 23, 2008
Raising of Short Term foreign currency Borrowings - NBFCs-ND-SI
RBI 2008-09/329 DNBS. PD. CC . No. /132/22.10.72/ 2008-09 December 23, 2008 All Non-deposit taking NBFCs with assets size of Rs. 100 crore and above Dear Sir,@@NBSP@@ Raising of@@NBSP@@ Short Term foreign currency Borrowings@@NBSP@@ - NBFCs-ND-SI@@NBSP@@ Systemically Important Non-Deposit taking NBFCs (NBFCs-ND-SI) have been permitted, as a temporary measure, to raise foreign currency short term borrowings under the approval route subject to certain conditions in term
RBI 2008-09/329 DNBS. PD. CC . No. /132/22.10.72/ 2008-09 December 23, 2008 All Non-deposit taking NBFCs with assets size of Rs. 100 crore and above Dear Sir,@@NBSP@@ Raising of@@NBSP@@ Short Term foreign currency Borrowings@@NBSP@@ - NBFCs-ND-SI@@NBSP@@ Systemically Important Non-Deposit taking NBFCs (NBFCs-ND-SI) have been permitted, as a temporary measure, to raise foreign currency short term borrowings under the approval route subject to certain conditions in term
Oct 29, 2008
Enhancement of NBFCs’ capital raising option for capital adequacy purposes
RBI /2008-09 /253 DNBS (PD) CC. No.131 /03.05.002 / 2008-2009@@NBSP@@ October 29, 2008 All Non-Deposit taking Non-Banking Finance Companies with assets size of Rs 100 crore and above. Dear Sir Enhancement of NBFCs’ capital raising option for capital adequacy purposes Taking into consideration, the need for enhanced funds for increasing business and meeting regulatory requirements, it has been decided that Systemically Important Non-Deposit taking Non-Banking Financial
RBI /2008-09 /253 DNBS (PD) CC. No.131 /03.05.002 / 2008-2009@@NBSP@@ October 29, 2008 All Non-Deposit taking Non-Banking Finance Companies with assets size of Rs 100 crore and above. Dear Sir Enhancement of NBFCs’ capital raising option for capital adequacy purposes Taking into consideration, the need for enhanced funds for increasing business and meeting regulatory requirements, it has been decided that Systemically Important Non-Deposit taking Non-Banking Financial
Sep 26, 2008
Quarterly Statement to be submitted by Securitisation Companies/Reconstruction Companies registered with the Reserve Bank of India under Section 3(4) of the SARFAESI Act
RBI/2008-2009/197 DNBS (PD) CC. No. 12 / SCRC / 10.30.000/ 2008-2009 September 26, 2008 All registered Securitisation Companies/Reconstruction Companies Quarterly Statement to be submitted by Securitisation Companies/Reconstruction Companies registered with the Reserve Bank of India under Section 3(4) of the SARFAESI Act Please refer to our Circular DNBS (PD) CC. No. 5 / SCRC / 10.30.000/ 2006-2007 dated April 25, 2007 on the captioned subject. 2. Based upon the exper
RBI/2008-2009/197 DNBS (PD) CC. No. 12 / SCRC / 10.30.000/ 2008-2009 September 26, 2008 All registered Securitisation Companies/Reconstruction Companies Quarterly Statement to be submitted by Securitisation Companies/Reconstruction Companies registered with the Reserve Bank of India under Section 3(4) of the SARFAESI Act Please refer to our Circular DNBS (PD) CC. No. 5 / SCRC / 10.30.000/ 2006-2007 dated April 25, 2007 on the captioned subject. 2. Based upon the exper
Sep 24, 2008
Monitoring Framework for non-deposit taking NBFCs
RBI/2008-09/194 DNBS.PD/ CC.No.130 / 03.05.002 /2008-09 September 24, 2008 Non-Banking Financial Companies (non-deposit taking NBFCs with asset size of Rs 50 crore and above but less than Rs 100 crore) Dear Sir, Monitoring Framework for non-deposit taking NBFCs It has been decided to call for basic information from non-deposit taking NBFCs with asset size of Rs 50 crore and above but less than Rs 100 crore at quarterly intervals. The first such returns for the quarter
RBI/2008-09/194 DNBS.PD/ CC.No.130 / 03.05.002 /2008-09 September 24, 2008 Non-Banking Financial Companies (non-deposit taking NBFCs with asset size of Rs 50 crore and above but less than Rs 100 crore) Dear Sir, Monitoring Framework for non-deposit taking NBFCs It has been decided to call for basic information from non-deposit taking NBFCs with asset size of Rs 50 crore and above but less than Rs 100 crore at quarterly intervals. The first such returns for the quarter
Sep 23, 2008
Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2008
RBI/2008-09/193 DNBS (PD) CC No. 129/03. 02.82/ 2008-09 September 23, 2008 To 1. The Chairmen/CEOs of Non-Banking Financial Companies [Excluding RNBCs] 2. The President, Institute of Chartered Accountants of India Dear Sir, “Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2008”@@NBSP@@ The Reserve Bank of India had issued Directions to the auditors of Non-Banking Financial Companies under Section 45 MA of the RBI Act, 1934, vide Notificatio
RBI/2008-09/193 DNBS (PD) CC No. 129/03. 02.82/ 2008-09 September 23, 2008 To 1. The Chairmen/CEOs of Non-Banking Financial Companies [Excluding RNBCs] 2. The President, Institute of Chartered Accountants of India Dear Sir, “Non-Banking Financial Companies Auditor’s Report (Reserve Bank) Directions, 2008”@@NBSP@@ The Reserve Bank of India had issued Directions to the auditors of Non-Banking Financial Companies under Section 45 MA of the RBI Act, 1934, vide Notificatio
Sep 15, 2008
Reclassification of NBFCs
RBI / 2008-09/167 DNBS.PD. CC No. 128 / 03.02.059 /2008-09 September 15, 2008 All Non-Banking Financial Companies excluding Residuary Non-Banking Companies Dear Sir, Reclassification of NBFCs Please refer to Company Circular DNBS.PD. CC No. 85 / 03.02.089 /2006-07@@NBSP@@@@NBSP@@ dated December 06, 2006 on the captioned subject. It was advised therein that NBFCs financing real / physical assets for productive / economic activity will be classified as Asset Finance Com
RBI / 2008-09/167 DNBS.PD. CC No. 128 / 03.02.059 /2008-09 September 15, 2008 All Non-Banking Financial Companies excluding Residuary Non-Banking Companies Dear Sir, Reclassification of NBFCs Please refer to Company Circular DNBS.PD. CC No. 85 / 03.02.089 /2006-07@@NBSP@@@@NBSP@@ dated December 06, 2006 on the captioned subject. It was advised therein that NBFCs financing real / physical assets for productive / economic activity will be classified as Asset Finance Com
Aug 14, 2008
Frauds - Future approach towards monitoring of frauds in NBFCs
RBI/2008-09/129 DNBS.PD.CC. No 127 /03.10.42/2008-09 August 14, 2008 All deposit taking NBFCs (including RNBCs) Dear Sirs, Frauds – Future approach towards monitoring of frauds in NBFCs Please refer to Company Circular No. 121 dated July 1, 2008 on the captioned subject which has now been revised as under: 1) Paragraph No. 3.1.3 of Master Circular DNBS.PD.CC.No.121 /03.10.42/2008-09 dated July 01, 2008 has been revised as under- 'NBFCs may also report frauds perpetrat
RBI/2008-09/129 DNBS.PD.CC. No 127 /03.10.42/2008-09 August 14, 2008 All deposit taking NBFCs (including RNBCs) Dear Sirs, Frauds – Future approach towards monitoring of frauds in NBFCs Please refer to Company Circular No. 121 dated July 1, 2008 on the captioned subject which has now been revised as under: 1) Paragraph No. 3.1.3 of Master Circular DNBS.PD.CC.No.121 /03.10.42/2008-09 dated July 01, 2008 has been revised as under- 'NBFCs may also report frauds perpetrat
Aug 05, 2008
PMLA,2002 - Obligation of NBFCs
RBI/2008-09/120 DNBS(PD). CC 126/03.10.042/ 2008- 09 August 5, 2008 All Non-Banking Financial Companies, Miscellaneous Non-Banking Companies, and Residuary Non-Banking Companies Dear Sir, Prevention of Money Laundering Act, 2002 – Obligation of@@NBSP@@ NBFCs in terms of Rules notified there under Please refer to our circular DNBS(PD). CC 68 /03.10.042/2005-06 dated April 5, 2006. In Paragraph 3 of the said circular, NBFCs were advised to go through the provisions of P
RBI/2008-09/120 DNBS(PD). CC 126/03.10.042/ 2008- 09 August 5, 2008 All Non-Banking Financial Companies, Miscellaneous Non-Banking Companies, and Residuary Non-Banking Companies Dear Sir, Prevention of Money Laundering Act, 2002 – Obligation of@@NBSP@@ NBFCs in terms of Rules notified there under Please refer to our circular DNBS(PD). CC 68 /03.10.042/2005-06 dated April 5, 2006. In Paragraph 3 of the said circular, NBFCs were advised to go through the provisions of P
Aug 01, 2008
Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms
RBI/2008-09/116 DNBS (PD). CC. No. 125/03.05.002 / 2008-2009 August 1, 2008 All non-deposit taking NBFCs with asset size of Rs 100 crore and above (All NBFC-ND-SI) Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms Please refer to paragraph 216 of Annual Statement on Monetary Policy for the Year 2008-09 in terms of which capital adequacy, liquidity and disclosure norms were to be reviewed in respect of systemically important non-depo
RBI/2008-09/116 DNBS (PD). CC. No. 125/03.05.002 / 2008-2009 August 1, 2008 All non-deposit taking NBFCs with asset size of Rs 100 crore and above (All NBFC-ND-SI) Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms Please refer to paragraph 216 of Annual Statement on Monetary Policy for the Year 2008-09 in terms of which capital adequacy, liquidity and disclosure norms were to be reviewed in respect of systemically important non-depo
Jul 31, 2008
Accounting for taxes on income- Accounting Standard 22- Treatment of deferred tax assets (DTA) and deferred tax liabilities (DTL) for computation of capital
RBI/2008-09/107 DNBS (PD) C.C. No. 124/ 03.05.002/ 2008-09 July 31, 2008 All Non-Banking Financial Companies (NBFCs), including Residuary Non-Banking Companies (RNBCs) Dear Sirs, Accounting for taxes on income- Accounting Standard 22- Treatment of deferred tax assets (DTA) and deferred tax liabilities (DTL) for computation of capital In terms of Accounting Standard 22 issued by the Institute of Chartered Accountant of India (ICAI), on ‘Accounting for Taxes on Income’,
RBI/2008-09/107 DNBS (PD) C.C. No. 124/ 03.05.002/ 2008-09 July 31, 2008 All Non-Banking Financial Companies (NBFCs), including Residuary Non-Banking Companies (RNBCs) Dear Sirs, Accounting for taxes on income- Accounting Standard 22- Treatment of deferred tax assets (DTA) and deferred tax liabilities (DTL) for computation of capital In terms of Accounting Standard 22 issued by the Institute of Chartered Accountant of India (ICAI), on ‘Accounting for Taxes on Income’,
Jun 17, 2008
Section 45-IA, 45K and 45L of the RBI Act - Grant of CoR - Requirement of minimum NOF of Rs. 200 lakh for all deposit taking NBFCs
RBI/2007-08/369 DNBS (PD) C.C. No. 114 /03. 02.059/2007-08 June 17, 2008 To All deposit taking NBFCs Dear Sir, Section 45-IA, 45K and 45L of the RBI Act – Grant of CoR – Requirement of minimum NOF of Rs. 200 lakh for all deposit taking NBFCs The companies engaged in the business of non-banking financial institution (NBFI) are required to obtain a Certificate of Registration (CoR) from Reserve Bank of India to commence/carry on business of NBFI in terms of Section 45-I
RBI/2007-08/369 DNBS (PD) C.C. No. 114 /03. 02.059/2007-08 June 17, 2008 To All deposit taking NBFCs Dear Sir, Section 45-IA, 45K and 45L of the RBI Act – Grant of CoR – Requirement of minimum NOF of Rs. 200 lakh for all deposit taking NBFCs The companies engaged in the business of non-banking financial institution (NBFI) are required to obtain a Certificate of Registration (CoR) from Reserve Bank of India to commence/carry on business of NBFI in terms of Section 45-I
Apr 23, 2008
Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards/ Combating of Financing of Terrorism (CFT)
RBI / 2007- 08 /294 DNBS(PD). CC 113 /03.10.042/ 2007- 08 April@@NBSP@@ 23, 2008 All Non-Banking Financial Companies, Miscellaneous Non-Banking Companies, and 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 our Company Circular DNBS(PD).CC. 48/10.42/2004-05 dated February 21, 2005 on the captioned subject. It was advised in the guidelines enclose
RBI / 2007- 08 /294 DNBS(PD). CC 113 /03.10.042/ 2007- 08 April@@NBSP@@ 23, 2008 All Non-Banking Financial Companies, Miscellaneous Non-Banking Companies, and 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 our Company Circular DNBS(PD).CC. 48/10.42/2004-05 dated February 21, 2005 on the captioned subject. It was advised in the guidelines enclose
Apr 22, 2008
Regulation of SCs/RCs-disclosure while issuing Security Receipts
RBI/2007-2008/291 DNBS (PD) CC. No. 9/SCRC /10.30.000/ 2007-2008 April 22, 2008 All registered Securitisation Companies/Reconstruction Companies Regulation of SCs/RCs-disclosure while issuing Security Receipts(SRs) Please refer to paragraph 8 of the Securitisation Companies/ Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003 vide Notification No. DNBS. 2/CGM(CSM)-2003 dated April 23,2003(the Directions) and paragraph 7 of circular DNBS (PD) CC. No
RBI/2007-2008/291 DNBS (PD) CC. No. 9/SCRC /10.30.000/ 2007-2008 April 22, 2008 All registered Securitisation Companies/Reconstruction Companies Regulation of SCs/RCs-disclosure while issuing Security Receipts(SRs) Please refer to paragraph 8 of the Securitisation Companies/ Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003 vide Notification No. DNBS. 2/CGM(CSM)-2003 dated April 23,2003(the Directions) and paragraph 7 of circular DNBS (PD) CC. No
Mar 05, 2008
Frauds - Future approach towards monitoring of frauds in NBFCs
RBI / 2007-2008/257DNBS.PD.CC. No.112 /03.10.42/2007-08March 5, 2008 All deposit taking NBFCs (including RNBCs) Dear Sirs, Frauds – Future approach towards monitoring of frauds in NBFCs Please refer to Company Circular No. 106 dated September 04, 2007 on the captioned subject which has now been revised as under: Para 2.2- Cases of ‘negligence and cash shortages’ and ‘irregularities in foreign exchange transactions’ referred to in items (d) and (f) above are to be repo
RBI / 2007-2008/257DNBS.PD.CC. No.112 /03.10.42/2007-08March 5, 2008 All deposit taking NBFCs (including RNBCs) Dear Sirs, Frauds – Future approach towards monitoring of frauds in NBFCs Please refer to Company Circular No. 106 dated September 04, 2007 on the captioned subject which has now been revised as under: Para 2.2- Cases of ‘negligence and cash shortages’ and ‘irregularities in foreign exchange transactions’ referred to in items (d) and (f) above are to be repo
Mar 05, 2008
Regulation of SCs/RCs-submission of returns and audited balance sheet by SCs/RCs
RBI/2007-2008/258DNBS (PD) CC. No. 8 / SCRC / 10.30.000/ 2007-2008March 5, 2008 All registered Securitisation Companies/Reconstruction CompaniesRegulation of SCs/RCs-submission of returns and audited balance sheet by SCs/RCsIn partial modification of our earlier circular CC No. 5/SCRc/10.30.000/2006-07 dated April 25, 2007, all the SCs/RCs registered with the Bank are advised to furnish the position of Owned Funds in Quarterly Statements SCRC1 as item no.1. 2. All SCs
RBI/2007-2008/258DNBS (PD) CC. No. 8 / SCRC / 10.30.000/ 2007-2008March 5, 2008 All registered Securitisation Companies/Reconstruction CompaniesRegulation of SCs/RCs-submission of returns and audited balance sheet by SCs/RCsIn partial modification of our earlier circular CC No. 5/SCRc/10.30.000/2006-07 dated April 25, 2007, all the SCs/RCs registered with the Bank are advised to furnish the position of Owned Funds in Quarterly Statements SCRC1 as item no.1. 2. All SCs
Feb 15, 2008
Regulatory Framework for Mortgage Guarantee Company
RBI/2007-2008/238DNBS/PD(MGC) C.C. 1 / 03.11.001 /2007-08 February 15, 2008Regulatory Framework for Mortgage Guarantee CompanyPlease refer to Company Circular DNBS/PD(MGC) C.C.111/ 03.11.001 /2007-08 dated January 15, 2008 on the captioned subject wherein Mortgage Guarantee Company have been specified as non-banking financial company in terms of powers conferred upon the Bank under Section 45 I (f) (iii) of the RBI Act, 1934. 2. The Bank has since finalised Guidelines
RBI/2007-2008/238DNBS/PD(MGC) C.C. 1 / 03.11.001 /2007-08 February 15, 2008Regulatory Framework for Mortgage Guarantee CompanyPlease refer to Company Circular DNBS/PD(MGC) C.C.111/ 03.11.001 /2007-08 dated January 15, 2008 on the captioned subject wherein Mortgage Guarantee Company have been specified as non-banking financial company in terms of powers conferred upon the Bank under Section 45 I (f) (iii) of the RBI Act, 1934. 2. The Bank has since finalised Guidelines
Jan 15, 2008
Regulatory Framework for Mortgage Guarantee Company
RBI/2007-2008/224DNBS/PD(MGC) C.C.111/ 03.11.001 /2007-08January 15, 2008 Regulatory Framework for Mortgage Guarantee CompanyIt may be recalled that while announcing proposals for the Union budget 2007-08, the Finance Minister of India announced:'Our people want housing loans. Banks and housing finance companies that lend against mortgages would have greater comfort if the mortgage can be guaranteed through a three way contract among borrower, lender and guarantor. Re
RBI/2007-2008/224DNBS/PD(MGC) C.C.111/ 03.11.001 /2007-08January 15, 2008 Regulatory Framework for Mortgage Guarantee CompanyIt may be recalled that while announcing proposals for the Union budget 2007-08, the Finance Minister of India announced:'Our people want housing loans. Banks and housing finance companies that lend against mortgages would have greater comfort if the mortgage can be guaranteed through a three way contract among borrower, lender and guarantor. Re
Dec 14, 2007
RNBCs - Payment of Interest for Delayed Repayment of Deposits
RBI / 2007-2008/211DNBS (PD) CC. No.110 / 04.18.001 / 2007- 08December 14, 2007To, Residuary Non-Banking CompaniesDear Sirs, Residuary Non-Banking Companies (Reserve Bank) Directions, 1987 –Payment of interest for delayed repayment of deposits Please refer to the Residuary Non-Banking Companies (Reserve Bank) Directions, 1987. In terms of paragraph 5A of the said directions, it is obligatory on the part of the Residuary Non-Banking Companies (RNBCs) to intimate about
RBI / 2007-2008/211DNBS (PD) CC. No.110 / 04.18.001 / 2007- 08December 14, 2007To, Residuary Non-Banking CompaniesDear Sirs, Residuary Non-Banking Companies (Reserve Bank) Directions, 1987 –Payment of interest for delayed repayment of deposits Please refer to the Residuary Non-Banking Companies (Reserve Bank) Directions, 1987. In terms of paragraph 5A of the said directions, it is obligatory on the part of the Residuary Non-Banking Companies (RNBCs) to intimate about
Nov 26, 2007
Unsolicited Commercial Communications - National Do Not Call Registry
RBI/2007-08/193 DNBS.PD/ C.C No.109/03.10.001/2007-08 November 26, 2007 All Non-Banking Financial Companies Dear Sir, Unsolicited Commercial Communications - National Do Not Call Registry It is an emerging practice in India to engage agents/outsource business operations for the purpose of soliciting or promoting any commercial transactions using telecommunication mode. There is a need to protect the right to privacy of the members of public and to curb the complaints
RBI/2007-08/193 DNBS.PD/ C.C No.109/03.10.001/2007-08 November 26, 2007 All Non-Banking Financial Companies Dear Sir, Unsolicited Commercial Communications - National Do Not Call Registry It is an emerging practice in India to engage agents/outsource business operations for the purpose of soliciting or promoting any commercial transactions using telecommunication mode. There is a need to protect the right to privacy of the members of public and to curb the complaints
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Page Last Updated on: October 24, 2024
