Year 2023 in retrospect: Regulatory changes for NBFCs
Aanchal Kaur Nagpal | Senior Manager Watch our regulatory round series on YouTube here
This author has yet to write their bio.Meanwhile lets just say that we are proud Aanchal Kaur Nagpal contributed a whooping 5 entries.
Aanchal Kaur Nagpal | Senior Manager Watch our regulatory round series on YouTube here
Aanchal Kaur Nagpal, Manager | finserv@vinodkothari.com Background All scheduled commercial banks (including Regional Rural Banks and Small Finance Banks) are required to undertake priority sector lending. RBI mandates PSL to account for at least 40% of a bank’s Adjusted Net Bank Credit (ANBC) or Credit Equivalent of Off‐Balance Sheet Exposure whichever is higher, in accordance […]
– Aanchal Kaur Nagpal, Manager | finserv@vinodkothari.com Tax proposal to tax gains on MLDs as short-term capital gains The Budget proposes that the capital gains on market linked debentures (MLDs) will be taxed as short term capital gain. Presently, MLDs are mostly listed, and as listed securities they have 2 advantages: Market linked debentures is […]
– Aanchal Kaur Nagpal, Manager | aanchal@vinodkothari.com RBI vide notification dated October 11, 2022, has clarified that the assets of NBFCs forming part of a group will be aggregated for determination of the “middle layer” status of NBFCs. This clarification dates back to the 1st of October and therefore, as on the effective date of […]
– Aanchal Kaur Nagpal, Manager (finserv@vinodkothari.com) If everything’s a priority, then nothing’s a priority. Focusing on core activities while leaving non-core functions sub-contracted to specialized experts has been one of the key modus operandi to achieve efficiency. Banks and other financial institutions are increasingly outsourcing various financial activities ranging from onboarding customers to payment recovery. […]