Regulating Non-Banking

RBI/2014-15/121 DNBS(PD).CC.No.399/03.10.42/2014-15 July 14, 2014 All Non Banking Financial Companies / Residuary Non Banking Companies Dear Sirs, Levy of foreclosure charges/pre-payment penalty on Floating Rate Loans Please refer to paragraph (iii) of Guidelines on Fair Practices Code for NBFCs issued vide Circular DNBS(PD) CC No. 80/03.10.042/2005-06 dated September 28, 2006 and paragraph 2(A) (iii) of Master Circular DNBS(PD).CC.No.388 /03.10.042/2014-15 dated July

RBI/2014-15/120 DNBS (PD).CC. No 398/03.10.42/2014-15 July 10, 2014 All Deposit taking Non Banking Financial Companies Dear Sirs, Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards /Combating of Financing of Terrorism (CFT) / Obligation of NBFCs under Prevention of Money Laundering Act (PMLA), 2002- Clarification on proof of Address Please refer to paragraph I 8 and Annex VIII of Master Circular DNBS (PD) CC No. 387/03.10.42/ 2014-15 dated July 1,

RBI/2013-14/618 DNBS(PD).CC. No 378 /03.10.42 /2013-14 May 29, 2014 All Non Banking Financial Companies Dear Sirs, Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards /Combating of Financing of Terrorism (CFT) / Obligation of NBFCs under Prevention of Money Laundering Act (PMLA), 2002 - Amendment to Section 13(2) Please refer to paragraph III of Master Circular DNBS (PD).CC.No.339 /03.10.42/ 2013-14 dated July 1, 2013 on Know Your Customer (KYC) Gui

RBI/2013-14/609 DNBS.CC.PD.No.377/03.10.01/2013-14 May 27, 2014 To All Non-Banking Financial Companies Dear Sir, Rounding off transactions to the Nearest Rupee by NBFCs It has come to the notice of the Reserve Bank that some non-banking financial companies (NBFCs) are carrying out transactions, including payment of interest on deposits/ charging interest of advances etc., without rounding off to the nearest rupee. In order to obviate unnecessary discomfort to the publ

RBI/2013-14/571 DNBS (PD) CC. No. 38/SCRC/26.03.001/2013-14 April 23, 2014 The Chairman/Managing Director/Chief Executive Officer All registered Securitisation Companies/Reconstruction Companies Dear Sir, Uniform Accounting Standards at ARCs Please refer to "The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003" dated April 23, 2003 (herein after called Guidelines). 2. Pursuant to the recommendations of the Key Adviso

RBI/2013-14/558 DNBS (PD).CC.No. 374/03.10.001/2013-14 April 07, 2014 To Concerned Financial Institution Dear Sirs, Registration of Non-Operative Financial Holding Companies (NOFHCs) Please refer to the ‘Guidelines for Licensing of New Banks in the Private Sector’ dated February 22, 2013 issued by Department of Banking Operations and Development (DBOD), vide RBI Press Release 2012-2013/1421 of the same date. The Guidelines inter alia, state that promoter / promoter gr

RBI/2013-14/524 DNBS(PD).CC.No 370/03.10.42/2013-14 March 19, 2014 All Non Banking Financial Companies excluding Residuary Non Banking Companies Dear Sirs, Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) - Standards Please refer to DNBS (PD).CC.No.364/03.10.42/2013-14 dated January 1, 2014 on risks arising from the deficiencies in AML/CFT regime of certain jurisdictions. 2. Financial Action Task Force (FATF) has updated its statement on February

RBI/2013-2014/522 DNBS (PD) CC. No. 36/SCRC/26.03.001/2013-2014 March 19, 2014 The Chairman/Managing Director/Chief Executive Officer All registered Securitisation Companies/Reconstruction Companies Dear Sir, Restructuring Support Finance - participation by investors Please refer to “The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003” dated April 23, 2003 (herein after called Guidelines) and DNBS.PD (SC/RC) CC. No.

RBI/2013-2014/523 DNBS (PD) CC.No. 37/SCRC/26.03.001/2013-2014 March 19, 2014 The Chairman/Managing Director/Chief Executive Officer All registered Securitisation Companies/Reconstruction Companies Dear Sir, Buyback of assets from SC/RCs by the Defaulters and acquisition of assets by SC/RCs from sponsor banks Please refer to “The Securitisation Companies and Reconstruction Companies (Reserve Bank) Guidelines and Directions, 2003” dated April 23, 2003 (herein after cal

RBI/2013-14/461 DNBS(PD).CC. No 368 /03.10.01 /2013-14 January 24 , 2014 All Non Banking Financial Companies Dear Sirs, Prepaid Payment Instruments issued by Non-Banking Institutions Non–banking institutions (NBIs) are allowed to issue prepaid payment instruments (PPIs) and collect money in this behalf from the customers, subject to authorisation under the Payment and Settlement Systems Act (PSS Act), 2007. As this function involves providing payment service, and is r