Acceptance of public deposits for NBFCs – Submission of statutory return on liquid assets and special return

ATTENTION NBFCs1)The NBFCs having net owned fund below Rs.25 lakh are not allowed to accept public deposits2)The statutory return on liquid assets on quarterly basis must be submitted to the RBI whether NBFCs hold public deposits or not; and3)Non-submission of this return is violation of law attracting penaltiesPlease note the following: RBI has mailed to all NBFCs the blank forms of statutory returns on liquid assets to be maintained on public deposits and format for

ATTENTION NBFCs1)The NBFCs having net owned fund below Rs.25 lakh are not allowed to accept public deposits2)The statutory return on liquid assets on quarterly basis must be submitted to the RBI whether NBFCs hold public deposits or not; and3)Non-submission of this return is violation of law attracting penaltiesPlease note the following: RBI has mailed to all NBFCs the blank forms of statutory returns on liquid assets to be maintained on public deposits and format for

Acceptance of public deposits for NBFCs – Submission of statutory return on liquid assets and special return

To all Non-Banking Financial Companies (NBFCs)
and Residuary Non-Banking Companies (RNBCs)

RESERVE BANK OF INDIADepartment of Non- Banking Supervision,Central Office, Centre 1, Cuffe Parade, Colaba, Mumbai, 400005Fax: 022 2150540 Telephone 2188122Telex 011 86135 RBI INTelegram : PARYAVEKSHANRef DNBS. No. CC. 07/02.01/98-99  December 18, 1998To all Non-Banking Financial Companies (NBFCs) and Residuary Non-Banking Companies (RNBCs) Dear Sir,Non-Banking Financial Companies –Amendments to Directions-----------------------------------------------P

RESERVE BANK OF INDIADepartment of Non- Banking Supervision,Central Office, Centre 1, Cuffe Parade, Colaba, Mumbai, 400005Fax: 022 2150540 Telephone 2188122Telex 011 86135 RBI INTelegram : PARYAVEKSHANRef DNBS. No. CC. 07/02.01/98-99  December 18, 1998To all Non-Banking Financial Companies (NBFCs) and Residuary Non-Banking Companies (RNBCs) Dear Sir,Non-Banking Financial Companies –Amendments to Directions-----------------------------------------------P

To all Non-Banking Financial Companies (NBFCs) and Residuary Non-Banking Companies (RNBCs)

Summary of Recommendations of the
Task Force on NBFCs

@@NBSP@@1. Diversification of financial markets is an important component of financial sector reforms. In this environment, NBFCs have flourished and have become prominent in a wide range of activities like hire purchase finance, housing finance, equipment leasing finance, loans and investments.2. It is recognised that the existing legislative and regulatory framework requires further refinement and improvement because of the rising number of defaulting NBFCs and the

@@NBSP@@1. Diversification of financial markets is an important component of financial sector reforms. In this environment, NBFCs have flourished and have become prominent in a wide range of activities like hire purchase finance, housing finance, equipment leasing finance, loans and investments.2. It is recognised that the existing legislative and regulatory framework requires further refinement and improvement because of the rising number of defaulting NBFCs and the

Summary of Recommendations of the Task Force on NBFCs

Notification No. DNBS. 130/CGM(VSNM)-98 dated December 18, 1998.

@@NBSP@@In exercise of the powers conferred by sub-section (1A) of section 45MA of the Reserve Bank of India Act, 1934 (2 of 1934), the Reserve Bank of India hereby directs that the directions contained in Notification No.DFC.117/DG(SPT)/98 dated January 2,1998 stand amended with immediate effect, as follows, namely –In In paragraph 3, in sub-paragraph (B), after clause (i), the following clause (ia) shall be inserted, namely, -"(ia) whether the public deposit held by

@@NBSP@@In exercise of the powers conferred by sub-section (1A) of section 45MA of the Reserve Bank of India Act, 1934 (2 of 1934), the Reserve Bank of India hereby directs that the directions contained in Notification No.DFC.117/DG(SPT)/98 dated January 2,1998 stand amended with immediate effect, as follows, namely –In In paragraph 3, in sub-paragraph (B), after clause (i), the following clause (ia) shall be inserted, namely, -"(ia) whether the public deposit held by

Notification No. DNBS. 130/CGM(VSNM)-98 dated December 18, 1998.

Notification No. DNBS. 131/CGM(VSNM)-98 dated December 18, 1998.

In exercise of the powers conferred under the sub-section (2) of section 45IB of the Reserve Bank of India Act, 1934 (2 of 1934) for the purpose of ensuring compliance with the maintenance of percentage of assets by non-banking financial companies, the Reserve Bank of India hereby directs that directions contained in Notification DFC(COC) No. 108/ED(JRP)-97 dated April 30, 1997 stand amended with immediate effect as under :1.In Form of Quarterly Return II, item 10 sha

In exercise of the powers conferred under the sub-section (2) of section 45IB of the Reserve Bank of India Act, 1934 (2 of 1934) for the purpose of ensuring compliance with the maintenance of percentage of assets by non-banking financial companies, the Reserve Bank of India hereby directs that directions contained in Notification DFC(COC) No. 108/ED(JRP)-97 dated April 30, 1997 stand amended with immediate effect as under :1.In Form of Quarterly Return II, item 10 sha

Notification No. DNBS. 131/CGM(VSNM)-98 dated December 18, 1998.

Notification No. DNBS. 127 /CGM(VSNM)-98 dated December 18, 1998.

The Reserve Bank of India, having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Non-Banking Financial Companies Acceptance of Public Deposit (Reserve Bank) Directions, 1998, in exercise of the powers conferred by sections 45J, 45K, 45L and 45MA of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powe

The Reserve Bank of India, having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Non-Banking Financial Companies Acceptance of Public Deposit (Reserve Bank) Directions, 1998, in exercise of the powers conferred by sections 45J, 45K, 45L and 45MA of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powe

Notification No. DNBS. 127 /CGM(VSNM)-98 dated December 18, 1998.

Notification No. DNBS. 128/CGM(VSNM)-98 dated December 18, 1998.

@@NBSP@@The Reserve Bank of India, having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998, in exercise of the powers conferred by section 45JA of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powers enabling it in this

@@NBSP@@The Reserve Bank of India, having considered it necessary in the public interest, and being satisfied that, for the purpose of enabling the Bank to regulate the credit system to the advantage of the country, it is necessary to amend the Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998, in exercise of the powers conferred by section 45JA of the Reserve Bank of India Act, 1934 (2 of 1934) and of all the powers enabling it in this

Notification No. DNBS. 128/CGM(VSNM)-98 dated December 18, 1998.

Notification No. DNBS. 129/CGM(VSNM)-98 dated December 18, 1998.

@@NBSP@@In exercise of the powers conferred under exclusion clause (iv)(d) of section 45I(bb) of the Reserve Bank of India Act, 1934 (2 of 1934), the Reserve Bank of India specifies the institutions as under : "a company incorporated under the Companies Act, 1956 (1 of 1956); a Corporation established by or under any Statute; and a cooperative society registered under the Cooperative Societies Act of any State."@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@

@@NBSP@@In exercise of the powers conferred under exclusion clause (iv)(d) of section 45I(bb) of the Reserve Bank of India Act, 1934 (2 of 1934), the Reserve Bank of India specifies the institutions as under : "a company incorporated under the Companies Act, 1956 (1 of 1956); a Corporation established by or under any Statute; and a cooperative society registered under the Cooperative Societies Act of any State."@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@@NBSP@@@

Notification No. DNBS. 129/CGM(VSNM)-98 dated December 18, 1998.

Notification No. FERA 188/98 RB dated 11th November 1998.

Notification No. FERA 188/98 RB dated 11th November 1998. In pursuance of clause (a) and clause (d) of sub-section (1) of section 19 read with clause (b) of sub-section (1) of section 29 of the Foreign Exchange Regulation Act, 1973 (46 of 1973), the Reserve Bank directs that its notification No. FERA 180/98 RB dated 13th January 1998 as amended from time to time (hereinafter referred to as 'the said Notification'), shall be amended in the following manner, namely: i)

Notification No. FERA 188/98 RB dated 11th November 1998. In pursuance of clause (a) and clause (d) of sub-section (1) of section 19 read with clause (b) of sub-section (1) of section 29 of the Foreign Exchange Regulation Act, 1973 (46 of 1973), the Reserve Bank directs that its notification No. FERA 180/98 RB dated 13th January 1998 as amended from time to time (hereinafter referred to as 'the said Notification'), shall be amended in the following manner, namely: i)

Notification No. FERA 188/98 RB dated 11th November 1998.

Notification No.F.E.R.A. 189 /98 RB dated 11th November 1998.

Notification No.F.E.R.A. 189 /98 RB dated 11th November 1998. In pursuance of clause (a) and clause (d) of sub-section (1) of Section 19 read with clause (b) of sub-section (1) section 29 of the Foreign Exchange Regulation Act, 1973 (46 of 1973), the Reserve Bank directs that its notification No.F.E.R.A.182/98 RB dated 10th February 1998 as amended from time to time (hereinafter referred to as 'the said Notification'), shall be amended in the following manner, namely:

Notification No.F.E.R.A. 189 /98 RB dated 11th November 1998. In pursuance of clause (a) and clause (d) of sub-section (1) of Section 19 read with clause (b) of sub-section (1) section 29 of the Foreign Exchange Regulation Act, 1973 (46 of 1973), the Reserve Bank directs that its notification No.F.E.R.A.182/98 RB dated 10th February 1998 as amended from time to time (hereinafter referred to as 'the said Notification'), shall be amended in the following manner, namely:

Notification No.F.E.R.A. 189 /98 RB dated 11th November 1998.