| Date : 02 Jun 2008 |
|RBI releases Draft Guidelines on NBFC-ND-SI regarding Prudential Norms for Public Comments |
The Reserve Bank of India (RBI) today placed on its website draft guidelines in respect of capital adequacy, liquidity and disclosure norms of non-deposit taking, systemically important non-banking financial companies (NBFC-ND-SI) for public comments. In keeping with its consultative approach, the Reserve Bank has placed the draft guidelines on its website (www.rbi.org.in) for study by a wider audience. Comments/suggestions may be sent to the Chief General Manager-in-Charge, Department of Non-Banking Supervision, Reserve Bank of India, Central Office, 2nd Floor, Centre-I, World Trade Centre, Cuffe Parade, Mumbai-400005 or by email at the earliest but within 30 days of the publication of the guidelines.
It may be recalled that an announcement was made in Annual Monetary Policy Statement of 2008-09 (paragraph 216) that “it is observed that many systemically important non deposit taking NBFCs are highly leveraged and use short term sources to fund their activities. In light of international developments and increasing exposure to these systemically important NBFCs, it has now been decided to review the regulations in respect of capital adequacy, liquidity and disclosure norms. Revised instructions will be issued by May 31, 2008.”
Deputy General Manager
Press Release : 2007-2008/1540