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NBFC

New NBFCs asked to offer factoring services

 New NBFCs asked to offer factoring services. According to the General Manager of Small Industries Development Bank of India (SIDBI), Mr Mr K.I. Mani, new Non-Banking Finance Companies (NBFCs) should register themselves with the Reserve Bank of India (RBI) to offer factoring activities. Speaking at a seminar on factoring, its potential and opportunity, in Hyderabad on […] Continue reading →

Dormant NBFCs stand to lose registration

 Non-Banking Finance Companies (NBFC) which obtain registra­tion, park their funds in fixed deposits with banks and do not commence business have come under the central bank’s lens. Investments in fixed deposits cannot be treated as financial as- sets. Receipt of interest income on fixed deposits with banks cannot be treated as income from financial assets, […] Continue reading →

Non-Banking Financial Companies (NBFCs)

 Non-Banking Financial Companies (NBFCs) are fast emerging as an important segment of Indian Financial System. It is an heterogeneous group of institutions other than commercial and co-operative banks performing financial intermediation in a variety of ways,like accepting deposits, making loans and advances,leasing, hire purchases etc. NBFCs raise funds from the public directly or indirectly and […] Continue reading →

Banking and Financial System in India

 The Banking, non-banking and Financial System in India comprises of the following types of institutions – 1. Commercial Banks There are four types of Commercial Banks in India. a) Public Sector Banks b) Private Sector Banks c) Foreign Sector d) Cooperative Banks/Institutions. Cooperative Banks/institutions are of three types i) Urban Cooperative Banks ii) State Cooperative […] Continue reading →