RBI’s Revised Scale-Based Regulatory Structure for NBFCs
The Reserve Bank of India (RBI) has rolled out a Revised Scale-Based Regulatory (SBR) Framework for NBFCs, marking a significant step in strengthening risk-based supervision and improving the resilience of non-banking financial companies (NBFCs) in India. This reform reshapes how NBFCs are governed, aligning oversight with their size, complexity, and systemic importance. Let’s break down…
Read article
What is PMLA and reporting of Suspicious Transactions by Banks?
The Prevention of Money Laundering Act, 2002 (PMLA) forms the core of the legal framework put in place by India to combat money laundering. PMLA and the Rules notified there under came into force with effect from July 1, 2005. Director, FIU-IND, and Director (Enforcement) have been conferred with exclusive and concurrent powers under relevant…
Read article
Which are the records that need to be maintained under PMLA?
Prevention of Money Laundering Act, 2002(PMLA) is an Act enacted by the Government of India to prevent money-laundering and to provide for confiscation of property derived from money-laundering. PMLA and the Rules notified there under came into force with effect from July 1, 2005. The Rules 3, 4 and 5 of PMLA 2005 amended by…
Read article How to Register an NBFC in India: Step-by-Step Guide
Non-Banking Financial Companies (NBFCs) are an essential part of India’s financial ecosystem, providing credit and financial services to individuals and businesses beyond the reach of traditional banks. Setting up an NBFC requires strict compliance with the Reserve Bank of India (RBI) regulations. Here’s a detailed breakdown of the requirements, documents, and registration process for obtaining…
Read article The Role of NBFCs in promoting Inclusive Growth in India
Non-Banking Financial Companies (NBFCs) have emerged as one of the strongest drivers of inclusive growth in India. By reaching individuals, entrepreneurs, and communities that are often beyond the reach of traditional banks, NBFCs act as growth catalysts for a more equitable economy. Their flexibility, innovation, and strong presence in underserved regions make them critical players…
Regulators of NBFCs in India: A complete guide
The Reserve Bank of India (RBI) is the primary regulator for Non-Banking Financial Companies (NBFCs) in India, overseeing their registration, operations, and compliance under the RBI Act, 1934 to ensure financial stability and depositor protection. Other entities like the National Housing Bank (NHB), Insurance Regulatory and Development Authority of India (IRDAI), Securities and Exchange Board…
Read article