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Open in new tab OVERVIEW OF THE RBI REGULATORY FRAMEWORK FOR NBFCS
– Vinod Kothari & Anita Baid | finserv@vinodkothari.com
This presentation was used during the ICSI Crash course
Day 1
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Day 6
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Two day refresher course on NBFC Regulations – Mumbai
Fill the google form to register: https://forms.gle/ULq6zBhESo1rpZLKA
Following the success of our recent workshop in Bengaluru, we are delighted to announce our upcoming 2-day refresher course on RBI regulations for NBFCs in Mumbai!
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Refer our resources on SBR:
Revamped Fraud Risk Management Directions: Governance structure, natural justice, early warning system as key requirements
– Team Finserv | finserv@vinodkothari.com
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Other Related Articles:
Time to say Wah! to Pravaah: New interface for regulatory approvals by NBFCs
– Vinod Kothari and Anita Baid
While the regulatory interface for NBFCs with the RBI is considerably easier than that for banks, considering the sheer number and small size of several NBFCs, there are very frequent occasions for approvals like change in management, change of directors, etc., for which NBFCs need to approach the RBI for approval. For an NBFC having 3 directors, if one dies or retires and a new director has to be appointed, this fits the regulatory definition of “change in management”, even though nothing may have changed on the shareholding front.
Read more →Consent Managers for NBFCs
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Other resources on the topic –
FAQs on Co-lending
Team Finserv l finserv@vinodkothari.com
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Two days refresher course on NBFC Regulations
Fill the google form to register: https://forms.gle/mpVZhhhqsZV9uiti8
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Refer our resources on SBR:
Do NBFCs Qualify as Small Companies?
Mahak Agarwal | corplaw@vinodkothari.com
Introduction
Recently, there has been considerable discussion regarding whether NBFCs can qualify as small companies. This debate erupts from point (c) of the proviso to Section 2(85) of the Companies Act, 2013 (‘the Act’), which excludes “a company or body corporate governed by any special Act” from being eligible as a small company.
Small is simple
Small companies are private companies operating on a small scale, having paid up share capital and turnover limits not exceeding Rs.4 crs and Rs.40 crs respectively. These companies contribute significantly to the economy, carrying the potential of becoming large corporations. The idea behind providing various relaxations to small companies was to remove the burden of additional compliances otherwise applicable to large public listed companies. The same has also been discussed in the 2005 Report on Company Law by Dr. J.J. Irani:
“The small companies have to be enabled to take quick decisions, be adaptable and nimble in the changing economic environment, yet be encouraged to comply with the essential requirements of the law through low cost of compliance. The Government may prescribe special regime for such companies through a system of exemptions.”
Read more →A policy on policies: Guide to writing corporate policies
finserv@vinodkothari.com | corplaw@vinodkothari.com
Why Policies:
- Policies have become a regulatory necessity in many cases. The Companies Act and Listing regulations require several policies: for example, nomination and remuneration policy, CSR policy, whistle blower policy, policy for determination of material subsidiary etc.
- The RBI’s regulations require policies every now and then – an indicative list of policies needed by NBFCs (for base layer and middle layer) is here
- RBI regulations for banks require an even larger list of policies. An indicative list of policies for banks can be accessed here.
- To conclude: policies are needed for companies in many respects/fields.
