Issue of Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including Housing Finance Companies)

Draft circular on declaration of dividend by NBFCs issued by RBI

Reserve Bank of India has issued draft circular on declaration of dividend by non-banking financial companies (NBFCs). Accordingly, deposit-taking NBFCs and systemically important non-deposit-taking NBFCs must have their net non-performing assets  below six percent and a capital adequacy ratio of at least 15 percent for the last three years, including the accounting year for which …

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