NBFCs

RBI

RBI directs select NBFCs, Urban Co-operative Banks to implement risk-based internal audit system

BUSINESS & ECONOMY / By / February 5, 2021 / ,

The Reserve Bank has directed select Non-Banking Financial Companies (NBFCs) and Urban Co-operatives Banks (UCBs) to implement a risk-based internal audit system. In a notification, the RBI said all deposits taking NBFCs, all non-deposit taking NBFCs with asset size of 5,000 crore rupees and above and all urban cooperative banks with asset size of 500 …

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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

BUSINESS & ECONOMY / By / December 12, 2020 / , , ,

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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