Non Banking Financial Company – Micro Finance Institutions : NBFC-MFI RBI Notification

The Reserve Bank of India today released a notification which approves the creation of a new category of Non Banking Finance Companies (NBFC) called NBFC-MFI. The minimum net owned funds for an NBFC to qualify as a NBFC-MFI will be Rs 5 crore. NBFC MFI A partial part of the notfication containing the important details … Continue reading “Non Banking Financial Company – Micro Finance Institutions : NBFC-MFI RBI Notification”

RBI Group to examine issues related to NBFC Sector

The Reserve Bank of India has announced that it has constituted a Working Group under the Chairmanship of Smt. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL) to examine a range of emerging issues pertaining to regulation of the NBFC (non-banking financial companies) sector. Last week, the RBI had rejected the demand … Continue reading “RBI Group to examine issues related to NBFC Sector”

RBI invites comments on Malegam Committee report on Microfinance Institutions

The Reserve Bank of India has invited views/comments of all stakeholders and the public at large on the Malegam Committee report on microfinance institutions (MFIs). Comments/suggestions/views may be forwarded to the Chief General Manager-in-Charge, Rural Planning and Credit Department, Reserve Bank of India, Central Office Building, 10th floor, S.B.S. Road, Mumbai-400001 or emailed latest by … Continue reading “RBI invites comments on Malegam Committee report on Microfinance Institutions”

RBI extends credit support to microfinance institutions in India

The Reserve Bank of India has today advised certain relaxation to banks in its present restructuring guidelines in order to enable them to extend credit support to micro finance institutions (MFIs). The relaxation is purely a temporary measure and would be applicable to bank loans to MFIs restructured by banks up to March 31, 2011, the … Continue reading “RBI extends credit support to microfinance institutions in India”

Reserve Bank of India makes Public the Engagement Schedule of its Top Officials

From January 3, 2011, the Reserve Bank of India will place on its website, the public engagement schedule of the Governor and the Deputy Governors. The engagement schedule will include public speeches and outreach activities undertaken by the executives. The initiative is one more step towards demystifying the central bank and the offices of the … Continue reading “Reserve Bank of India makes Public the Engagement Schedule of its Top Officials”

RBI releases Data on Sector Wise Deployment of Bank credit for Nov 2010

The Reserve Bank of India has decided to disseminate the data relating to sectoral deployment of credit on a monthly basis. The data is collected from select 47 scheduled commercial banks and accounts for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks. Real-Time Handbook of Statistics of the … Continue reading “RBI releases Data on Sector Wise Deployment of Bank credit for Nov 2010”