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The RBI recently proposed to reduce the ownership by banks over insurance companies at a maximum of 20 per cent from a present 50 per cent. This move is to be welcomed, as the close inter-relationship of banks with the insurance sector and other financial investment companies, causes opaque monopolies that distort the market and […]

The Enforcement Directorate (ED) has arrested the CEO of a non-banking financial company (NBFC) in connection with a money laundering probe against fintech firms backed by Chinese funds, the agency informed on Saturday.  The agency arrested Pavitra Pradip Walvekar, promoter, director and chief executive officer of Kudos Finance and Investment Private Limited on Friday. He […]

CIBIL is likely one of the 4 credit score bureaus in India that generates experiences primarily based in your credit score rating. Your CIBIL rating displays your credit score historical past. It’s utilized by lending establishments to guage your creditworthiness earlier than approving loans and different credit-based monetary merchandise. Most lenders have began classifying clients […]

Mumbai: In a transfer that might lead to extra non-banking finance corporations’ loans being categorised as NPAs and lift provisioning necessities, the RBI has tightened NBFC asset classification norms. The rules, which come into impact on March 30 subsequent yr, deliver the NBFC classification norms on a par with that of banks. The rules had […]