News & Events
MUDRA Elgibility for Refinancing
Key Features of Budget 2014-2015
Role of NBFCs in Financial Sector: Regulatory Challenges.


Finance Industry Development Council (FIDC) is a Self Regulatory Organization (SRO) cum Representative Body of all the Asset Financing NBFCs, (NBFC-AFCs) registered with the Reserve Bank of India
NBFCs adhere to all rules and regulations of RBI – Thomas George Muthoot.
Industry expected more from Mor panel

The recommendations of the Nachiket Mor Committee, released by the RBI on January 7,2014, falls short of the expectations of the NBFC’s.
Report of the Nachiket Mor Committee on Comprehensive Financial Services released.

Committee on Comprehensive Financial Services for Small Businesses and Low Income Households

RBI hikes lending limit of NBFCS upto 75%.

  Economic Times
  Live Mint
  NDTV Profit
  Times of India
  Business Standard
  The Telegraph
  First Post
  Business Today
  Financial Express
Times of India
  Financial Express
  Hindu Business Line
  Economic Times
Business Standard
  Free Press Journal
Redo NBFC classification

The Nachiket Mor panel on financial services for small businesses and low income households says by January l, 2016, at least one ofthe deposit products accessible to every resident through the payment access points.
Nbfcs not to make provision for guaranteed portion of loan

RBI norms prompt gold loan companies to offer new products

The strict regulatory norms announced by the Reserve Bank of India (RBI) have prompted gold loan companies to diversify their product offering and to venture into new segments.
Economic Times
RBI asks NBFCs to get ready for Settlement of Dues through Lok Adalat to be held on November 23, 2013

The Reserve Bank of India (RBI) has appealed to all Non-Bank Finance Companies (NBFCs) to participate in the Lok Adalat being organised by National Legal Services Authority (NALSA) on November 23, 2013
FCA Annual General Meeting held
The New Indian Express
24 September 2012
Financial Inclusion in India: Journey So Far And Way Forward

Banking Structure in India - The Way Forward

Banking Structure in India – Looking Ahead by Looking Back

For the fifth year on a trot, you have given me the privilege of inaugurating this prestigious and influential FICCI-IBA Annual Banking Conference. In my fifth year as Governor of RBI, I have the Governor’s annual schedule firmly ingrained in my mind.
Raghuram Rajan is the next RBI Governor

Chief Economic Advisor Raghuram Rajan will be the next Reserve Bank of India (RBI) Governor after incumbent D Subbarao retires in September.
Permitting Non Banking Finance Companies to issue ‘shelf prospectus’ - Representation to Ananta Barua

NBFC’s occupy a vital role in the Indian economy. Historically, NBFC’s have been playing a useful role in the credit structure of the country. This role has been recognised by the Government and NBFC’s have been permitted to raise resources to the extent of around seven times their Net Owned Fund.
Permitting Non Banking Finance Companies to issue ‘shelf prospectus’ - Representation to S. Raman, SEBI

NBFC’s occupy a vital role in the Indian economy. Historically, NBFC’s have been playing a useful role in the credit structure of the country. This role has been recognised by the Government and NBFC’s have been permitted to raise resources to the extent of around seven times their Net Owned Fund.
NBFC-AFC robust performance in the middle of a slowdown

After a prolonged period of disheartening economic indices of inflation, exchange rates, GDP and CAD (current account deficit), we could see the beginnings of a silver lining within these dark cloudsin the form of shrinkages in CAD and inflation.
Gold loan NBFCs plan public offer of nonconvertible dentures
19 July 2013
KNBFC Annual Meet – 2013

Kochi, 6th June, 2013 -Kerala Non-Banking Finance Companies(KNBFC), held this year’s annual meet in Kochi.The Annual Meet was inaugurated by Shri K. M. Mani, Hon’ble Minister for Finance, Govt. of Kerala. The event was also graced by Mr. Shreedhar Prasad, Director, Risk consulting at KPMG, Mr. Thomas George Muthoot, Chairman of KNBFC, Mr. Kurian C George, Vice Chairman, KNBFC, Mr. George Alexander Muthoot, Chairman, AGLOC and other eminent representatives of other NBFCs in Kerala.The Annual Meet mainly focused on the various risks as well as governance challenges that are faced by the NBFCs in the current scenario and how a proactive approach towards compliance can help minimize these risks.

Speaking on the occasion, Shri. K M Mani, Kerala Finance Minister said “People are not getting credit from banking sectors owing to technical hurdles but NBFC’s are filling this gap. Banks face problems to expand their rural presence, there NBFC’s come to the rescue of the rural masses. The state government is committed to encourage the sector." Mr George Alexander Muthoot, Chairman, AGLOC, addressed the gathering on other matters related to the sector.

Mr. Thomas George Muthoot, Chairman of KNBFC said, ‘’Over the years the NBFC Sector has not only grown in size, but also in terms of interconnectedness and systemic importance. Most of the NBFCs enjoy huge credit lines with the Banking system. Hence it is very essential that the NBFCs should function in a systematic and healthy manner contributing to the financial stability of the economy of our Country. Therefore, the need for adequate control over the NBFCs should not be overstated. NBFCs strictly abide by the rules prescribed by the Government and the RBI and we will continue doing our business in a fair manner” .
6 May 2013
  Kerala Kaumudhi
6 May 2013
  Malayala Manorama
6 May 2013
6 May 2013
6 May 2013
  Metro Vartha
6 May 2013
The Times of India
6 May 2013
  The New Indian Express
6 May 2013
6 May 2013
Indian Financial Markets: Fuelling the Growth of the Indian Economy
10 May 2013
Gold loans: Where NBFCs score
15 March 2013
What, Why, Who and How of Financial Literacy
2 February 2013
FIDC NBFC seminar - Press coverage
7 January 2012
Banks gain little of what gold NBFCs lost, local lenders real beneficieries
3 December 2012
Worst seems over for gold loan firms
3 December 2012
Readiness of major service providers to migrate from IPv4 to IPv6
8 November 2012
Representation to SEBI
8 October 2012
RBI tightens NBFC securitisation norms
21 August 2012
FIDC - Representation on PSL Guidelines
09 August 2012
The First Mile Walk into Financial Inclusion – Thinking Differently
07 August 2012
RBI to amend norms governing NBFC-MFIs
25 July 2012
Guidelines issued for class of NBFC – Factor
23 July 2012
Restructuring of loans and advances is accepted across most jurisdictions as a legitimate mechanism through which banks try to support the viable accounts to preserve the economic value of their loans.
18 July 2012
Will 90% NBFCs lose RBI registration due to new norms
18 July 2012
Investors may face 25% cost rise as panel okays expense ratio hike
18 July 2012
Issues and Challenges in Financial Inclusion : Policies, Partnerships, Processes and Products
12 July 2012
Agricultural Credit - Accomplishments and Challenges
12 July 2012
Financial Stability Report
June 2012
Gold LOAN NBFC's see muted growth
29 June 2012
Gold loan firms setting up SRO as RBI tightens screws
17 June 2012
Gold loan firms to form self-regulatory body
12 June 2012
Banking in the developing world - The poor are different
20 April 2012
Banks told to cut NBFC exposure
  RBI advices banks to reduce regulatory exposure ceiling in a single NBFC having gold loans to the extent of 50% or more of its total financial assets.

The Financial World
18 April 2012
RBI MONETARY POLICY 2012-13 - NBFC norms to be based on Thorat panel suggestions
18 April 2012
Reserve Bank of India Monetary Policy Statement 2012-13
(Press Statement by Dr. D. Subbarao Governor, Reserve Bank of India)
17 April 2012
Gold loan cap will fatten moneylenders
1 April 2012
Indian Banking- Journey into the Future
31 January 2012
RBI creates new category NBFCs for micro finance
3 December 2011
ASSOCHAM's views on banking licenses
4 November 2011
Creation of low-income micro-lending NBFC cleared
26 October 2011
RBI firm on MFIs classified as NBFC
26 October 2011
Financial Inclusion | A road India needs to travel
17 October 2011
Banks, NBFCs can now float infrastructure debt funds
(Hindu Business Line)
23 September 2011
Priority sector lending norms for NBFCs in public interest: Thorat
23 September 2011
Reflections on Regulatory Challenges and Dilemmas
29 August 2011
First Quarter Review of Monetary Policy 2011-12: Press Statement by Dr. D. Subbarao, Governor
26 July 2011
Annual Monetary Policy Statement for 2011-12 , Press Statement by Dr. D. Subbarao, Governor
3 May 2011
NBFC representatives meet RBI officials ,discuss current environment prevailing in the industry
8 April 2011
Sustainability of Economic Growth and Controlling Inflation: The Way Forward
(Address by Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India)
5 April 2011
Linking Entrepreneurship with Credit- The Role of Financial System
5 April 2011
Bank credit to NBFCs soared in February
March 2011
  Bank credit to non-banking finance companies (NBFCs) seems to be increasing by leaps and bounds. Credit growth to NBFCs at 46.4 per cent on a year-on-year basis in February 2011 was significantly higher than the growth of 19.8 per cent during the corresponding period of the previous year, according to Reserve Bank of India.

Financial Inclusion: A Consumer Centric View - Narayanan Memorial Lecture by Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
March 2011
Retail NBFC's The shine is back ,but will it last ? A CRISIL study
March 2011
NBFC loans to match banks' non-mortgage retail lending – A CRISIL study
March 2011
RBI sets up Working Group to examine Issues relating to NBFC Sector
The Hindu, 8th March 2011
The working group to examine issues
pertaining to regulation of NBFCs
will be headed by
former RBI Deputy Governor Usha Thorat.
Focus will be on standards of governance

The Reserve Bank of India (RBI) on Monday constituted a working group under the Chairmanship of Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL), to examine a range of emerging issues pertaining to regulation of the NBFCs (non-banking financial companies) sector.

The NBFCs sector has undergone a significant transformation in the past few years and has come to be recognised as a systemically important element of the financial system. The recent global financial crisis has also highlighted the regulatory imperatives concerning the non-banking financial sector and the risks arising from regulatory gaps, arbitrage and systemic inter-connectedness. A need was, therefore, felt to reflect on the broad principles that underpin the regulatory architecture for NBFCs keeping in view the economic role and heterogeneity of this sector and the recent international experience, the RBI stated in a press release here.

Other members of the group are: Sanjay Labroo, Director, Central Board, RBI; Rajiv Lall, Managing Director and Chief Executive Officer, Infrastructure Development Finance Corporation; Bharat Doshi, Executive Director and Group Chief Financial Officer, Mahindra & Mahindra; and Pratip Kar, Director, Globsyn Business School, Kolkata. Uma Subramaniam, Chief General Manager-in-Charge, Department of Non-Banking Supervision will be the Member-Secretary.

While examining a range of emerging issues pertaining to the regulation of the sector, the working group will focus on the definition and classification of NBFCs, addressing regulatory gaps and regulatory arbitrage, maintaining standards of governance in the sector and appropriate approach to NBFC supervision. The scope of examination will, however, be within the current legislative framework.

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