RBI regulations for factoring business

Under the provisions of the regulations mentioned above, all existing non-deposit taking NBFC-Investment and Credit Companies (NBFC-ICCs) with asset size of ₹1,000 crore & above will be permitted to undertake factoring business subject to satisfaction …

RBI Discussion Paper on Review of Prudential Norms for Classification, Valuation and Operations of Investment Portfolio of Commercial Banks

The paper suggests a new framework addressing the significant developments over the last two decades in the global prudential framework, accounting standards as well as in our domestic financial markets.

The Registration of Factors (Reserve Bank) Regulations, 2022.

Every company intending to undertake factoring business shall make an application to the Reserve Bank for grant of certificate of registration (CoR) as NBFC-Factor under the Act.

The Registration of Assignment of Receivables (Reserve Bank) Regulations, 2022.

Every Form for registration of any transaction relating to assignment of receivables or satisfaction of receivables on realisation shall be accompanied by the fee, as prescribed by GoI in Registration of Assignment of Receivables Rules, …

Ministry of Communication issues notification to declare Reversionary Bonus on the Rural Postal Life Insurance Policies.

The Rate of Bonus for Whole Life Assurance policy shall be Rs. 60 per thousand of sum assured and for Endowment Assurance (EA) (including children policy) it shall be Rs. 48/- per thousand of sum …

Ministry of Communication declares Reversionary Bonus on the Postal Life Insurance Policies.

The Rate of Bonus for Whole Life Assurance policy shall be Rs. 76 per thousand of sum assured and for Endowment Assurance (EA) (including joint life and children policies) shall be Rs. 52/- per thousand …

MoF extends jurisdiction of Advisory Board for Banking and Financial Frauds

MoF extends jurisdiction of Advisory Board for Banking and Financial Frauds to cover all fraud cases and to examine the role of all levels of officials/Whole Time Directors (including ex-officials/ex-WTDs) in Public Sector Banks and …

RBI increases threshold for deposits and other funds of non-financial small businesses from 5 crore to 7.5 crore.

The threshold modification is applicable to deposits and other extensions of funds received from Small Business Customers that are managed as retail exposures and are generally considered as having similar liquidity risk characteristics to retail …

RBI revises definition of Small Business Customers

The amendment has directed Commercial Banks other than Regional Rural Banks, Local Area Banks and Payments Banks shall refer to RBI Master Circular on Basel III Capital Regulations dated July 1, 2015, for the definition …

RBI releases “Eligibility criteria for entities to be categorised as Specified User under clause (j) of Regulation 3 of the Credit Information Companies (Amendment) Regulations, 2021”

As per the requirements, a ‘specified user’ should be a company incorporated in India or a statutory corporation established in the country. The governing statute of the Statutory Corporation or Memorandum of Association of the …

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