Direct Tax
Consulting
ESG Advisory
Indirect Tax
Growth Advisory
Internal Audit
BFSI Audit
Industry Audit
Valuation
RBI Services
SEBI Services
IRDA Registration
AML Advisory
IBC Services
NBFC Compliance
IRDA Compliance
Finance & Accounts
Payroll Compliance Services
HR Outsourcing
LPO
Fractional CFO
General Legal
Corporate Law
Debt Recovery
Select Your Location
The Non-Banking Financial Companies (NBFC) have rapidly emerged as an important segment as alternative lenders to provide finance. NBFCs have recognized as important financial intermediaries particularly for the small-scale and retail sectors with the growing importance assigned to financial inclusion[1]. In this article know about Claim Management by NBFC for the Collection of Loan,
Non-Banking Financial Companies are a heterogeneous group of financial institutions. They offer facilities like equipment lease finance, hire purchase finance, personal loans, vehicle financing, working capital loans, housing loans, loans against shares and investment, etc.
NBFCs offer the range of product and services which includes loans and advances, credit facilities, saving and investment plans, acquisition of shares, stock, bonds hire-purchase, insurance business or chit business and money transfer service.
In addition to above private education funding, retirement planning, underwriting stocks and shares, trading in money markets, TFCs (Term Finance Certificate) and other obligations.
Every NBFC shall have appropriate grievance redressal mechanism within the organization. Such mechanism resolve disputes between the company and its customers and the mechanism should ensure that all disputes arising out of the decisions of lending institutions’ functionaries.
NBFC shall have the code of practice which they should be adhered to. Fair code practice aims to handle any dispute. NBFC lending loan shall adhere to following disclosures:
In the matter of recovery of loans, the NBFCs should not resort to undue harassment viz. persistently bothering the borrowers at odd hours, use of muscle power for recovery of loans, etc. As complaints from customers also include rude behaviour from the staff of the companies. NBFCs shall effectively be trained to staff to deal with the customers in an appropriate manner.
Read our article:Loan Mela’s for NBFCs; Govt. Attempts to Boost Liquidity
SEBI, the regulatory body for markets, has directed stockbrokers to establish an institutional...
If you have lost track of your shares in Muthoot Finance Limited, they may have been transferre...
Customer Acquisition is essential for any successful organization, placing customers ahead of p...
The role of AMFI in NRI SIP investments is continuously growing in the Indian mutual fund marke...
India’s Financial Intelligence Unit has introduced a groundbreaking upgrade to its informatio...
Are you human?: 5 + 2 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
The Company Law Board handled the authorities and responsibilities of the Companies before creating the National Co...
19 May, 2023
The Reserve Bank of India (RBI) is likely to tighten the certain regulations which govern Non-Banking Financial Com...
13 Sep, 2022