Regulatory Requirements for Non Bank Finance Companies

Legislative framework – RBI Act Chapter IIIB relating to NBFCs
Application process for obtaining Certificate of Registration for conducting NBFC business
Regulatory requirements regarding Change of Management, Merger and acquisition, foreign investments.
Design and implement a compliance management policy and organization for effective oversight and reporting of critical non-compliances – conduct a health check of an organisation’s compliance status.
Advise on Regulatory/Supervisory Compliance – guidance on furnishing compliance for supervisory reports, advise on new product development with respect to regulatory requirements, implementation of guidelines on IT Framework for NBFCs.
- Prudential norms and Regulatory guidelines – esp computation of Net Owned Funds with respect to group company exposure
- Customer Fair Practice Code compliance requirements
- Corporate Governance best practices, systems and controls
Assistance with Enforcement actions – SCNs for penalty.
Opening WoS abroad, capital remittance and related matters
External Commercial Borrowings
Business strategy
KYC/AML requirements and reporting.
Off Site data reporting requirements
NBFC Ombudsman Regulations