Brief about NBFC Compliances and Returns One of the well-known financial institutions which known as NBFC, NBFC are involved in the business of lending money, acquisition of equities, stocks etc issued by any authorities or government. Although NBFCs are not banks, they carry out lending operations on a level with banks. In a similar manner, …
Overview on NBFC – XBRL Filling in India The E-xtensible business reporting language (XBRL) is transforming company reporting all over the world by allowing for the electronic exchange of financial & business data. From financial year 2019–20, the Reserve Bank of India required all NBFCs to submit their NBFC returns in XBRL format. Moreover, we’ll …
All about the NBFC (Non-Banking Financial Corporation) It is a company known as Non-Banking Financial Corporation incorporated under the Companies Act 1956 or 2013. As per the section 45– I (C) of the Reserve Bank of India Act, a Company which carries on the business of a financial institution will be a Non-Banking Financial Company. …
Compliance by NBFC under RBI Regulation Different intimations & Returns One of the main factor in improving economic growth is arobust financial systems. NBFC has proven to be an important asset of Indian economy. In transportation and infrastructure sector as well NBFC has been a major contributor, it has also generated multiple employment opportunities & …
What is Systemically Important Non-Deposit Taking NBFC(NBFC – ND – SI)? Non-Deposit taking NBFCs having an asset size of Rs. 500 Cr and more as per their audited balance sheet of last financial year are considered as a systemically important NBFC – ND (NBFC-ND-SI). Other NBFC’s having an asset size of less than 500 Cr. …