Tag: FINANCIAL

Financial debt and operational debt

In Swiss Ribbons Pvt. Ltd. v. Union of India(2019) 4 SCC 17 A perusal of the definition of “financial creditor” and “financial debt” makes it clear that a financial debt is a debt together with interest, if any, which is disbursed against the consideration for time value of money.

U.S. financial institution

U.S. financial institution The term U.S. financial institution means any U.S. entity (including its foreign branches) that is engaged in the business of accepting deposits, making, granting, transferring, holding, or brokering loans or other […]

Types of Non-Banking Financial Companies registered with RBI

Non-banking financial institutions (NBFIs), engaged in varied financial activities are part of the Indian financial system providing a range of financial services. NBFCs are incorporated under the Companies Act, 1956. NBFCs can be classified into two broad categories, viz., (i) NBFCs accepting public deposit (NBFCs-D) and (ii) NBFCs not accepting/holding public deposit (NBFCs-ND). Residuary Non-Banking Companies(RNBCs) are another category of NBFCs whose principal business is acceptance of deposits and investing in approved securities. In the interest of depositors, RBI has evolved a regulatory framework the salient features of which are outlined below for the guidance of depositors

The Law Of Financial Services in India

Financial service” means—(i) buying, selling, or subscribing to a financial product or agreeing to do so; (ii) acceptance of deposits;(iii) safeguarding and administering assets consisting of financial products, belonging to another person, or agreeing to do so;(iv) effecting contracts of insurance; (v) offering, managing or agreeing to manage assets consisting of financial products belonging to another person; (vi) exercising any right associated with a financial product or financial service; (vii) establishing or operating an investment scheme; (viii) maintaining or transferring records of ownership of a financial product; (ix) underwriting the issuance or subscription of a financial product; (x) providing information about a person’s financial standing or credit worthiness; (xi) selling, providing, or issuing stored value or payment instruments or providing payment services; (xii) making arrangements for carrying on any of the services insub-clauses (i) to (xi); (xiii) rendering or agreeing to render advice on or soliciting for the purposes of—(A) buying, selling, or subscribing to, a financial product; or(B) availing any of the services in sub-clauses (i) to (xi); etcs

International Financial Services Centres Authority (Bullion Exchange) Regulations 2020

with sub-section (1) of section 12 and sub-section (1) of section 13 of the International Financial Services Centres Authority Act, 2019, the International Financial Services Centres Authority hereby makes the following regulations to provide a framework for recognition of bullion exchanges, its clearing corporations, depositories and vaults and for matters connected therewith or incidental thereto,