Sebi bars Rhine & Raavi, its directors from raising funds

Last Updated: Wednesday, October 2, 2013, 00:36

Market regulator Sebi today barred NBFC firm Rhine and Raavi Credits and Holdings Ltd (RRCHL) and its seven directors from raising money from investors through issue of certain debentures, violating the public fund-raising norms.

RBI tightens norms for lending against gold jewellery

Last Updated: Tuesday, September 17, 2013, 12:07

Seeking to keep demand of gold under check, the Reserve Bank of India has tightened norms for loans against pledge of gold jewellery.

First Sharia-based NBFC to open in Kerala after RBI nod

Last Updated: Sunday, August 18, 2013, 19:33

Outgoing Governor Duvuuri Subbarao, who is retiring on September 4, had earlier said that Islamic banking was not possible in the country.

NBFCs given time till March 2014 to allot customers unique ID

Last Updated: Thursday, July 4, 2013, 21:30

The RBI had in May said that existing individual customers may also be allotted Unique Customer Identification Code (UCIC) by end-June 2013.

RBI details interest payment norms for frozen NBFC deposits

Last Updated: Thursday, July 4, 2013, 21:29

In a notification, the Reserve Bank said the Non-Banking Financial Companies (NBFC) will have to obtain a "request letter" from such customers on maturity of their deposits for renewal.

RBI puts on hold new NCD norms for NBFCs

Last Updated: Wednesday, July 3, 2013, 22:59

In a relief to non-banking lenders, the Reserve Bank Wednesday said the proposal to have a minimum gap of six months for private placement of non-convertible debentures has been kept in abeyance for now.

NBFC official arrested for cheating depositors in Odisha

Last Updated: Wednesday, May 22, 2013, 12:45

The managing director of a non-banking financial company (NBFC) has been arrested on charges of cheating depositors in Khallikote area of Odisha.

RBI asks NBFCs to give customers unique ID code

Last Updated: Friday, May 3, 2013, 20:41

The Reserve Bank today asked non- banking financial companies (NBFCs) to allot customers unique identification code to avoid multiple identities.

Parity in taxation for non-resident investors in IDFs

Last Updated: Thursday, February 28, 2013, 17:15

"I propose to provide parity in taxation between an IDF- Mutual Fund that distributes income and an IDF-NBFC that pays interest, when the payment is made to a non-resident," Finance Minister P Chidambaram said in the Budget speech for 2013-14.

Magma completes acquisition of GE Money Housing Finance

Last Updated: Wednesday, February 13, 2013, 21:30

Leading NBFC Magma Fincorp today announced that it completed the acquisition process of GE Money Housing Finance which has an outstanding loan portfolio of Rs 1,320 crore.

Murugappa group's Cholamandalam Investment raises Rs.3 billion

Last Updated: Saturday, February 9, 2013, 09:36

City based non-banking finance company (NBFC) Cholamandalam Investment and Finance Company Ltd (Chola Investment), part of the $4.4 billion Murugappa group, has raised Rs.3 billion through qualified institutional placement (QIP) route, said a senior group official.