https://www.taxtmi.com/news?id=21776 Proposed amendments expand the central bank's remedial and supervisory authority over NBFCs, enabling board supersession, director removal, amalgamation or restructuring of entities for financial stability or public interest, auditor removal and debarment, directed inspection of group companies, raising Net Owned Fund requirements, and higher penalties for legal contraventions. Complementary regulatory measures align NBFC norms with banks through capital adequacy prescriptions, deposit limits relative to net owned funds, enhanced requirements for asset reconstruction entities, temporary securitisation and exposure relaxations to support liquidity, permissive credit-enhancement by banks, and strengthened on-site and off-site supervision. en-us Tue, 23 Jul 2019 18:12:27 +0530 Tue, 23 Jul 2019 18:12:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21776 Proposed amendments expand the central bank's remedial and supervisory authority over NBFCs, enabling board supersession, director removal, amalgamation or restructuring of entities for financial stability or public interest, auditor removal and debarment, directed inspection of group companies, raising Net Owned Fund requirements, and higher penalties for legal contraventions. Complementary regulatory measures align NBFC norms with banks through capital adequacy prescriptions, deposit limits relative to net owned funds, enhanced requirements for asset reconstruction entities, temporary securitisation and exposure relaxations to support liquidity, permissive credit-enhancement by banks, and strengthened on-site and off-site supervision. News - Tue, 23 Jul 2019 18:12:27 +0530 https://www.taxtmi.com/news?id=21776