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.
Table of Contents
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
With the rising inflation rates and various other economic factors, wealthy Americans are incre...
Before approaching the new suppliers or any other third parties, you should always go for the v...
With the increasing landscape of Fintech Companies, it is increasingly vital that fintech compl...
This blog gives a detailed description through an audit report for industrial waste by examinin...
On 1st March 2024, the IRDAI came up with a notification via F. No. IRDAI/Reg/5/199/2024 for Bi...
Are you human?: 2 + 1 =
Easy Payment Options Available No Spam. No Sharing. 100% Confidentiality
Banks must follow the internal capital adequacy assessment process in order to perform risk assessment. The RBI has...
10 Sep, 2022
Non-Banking Financial Companies (NBFC) are regulated financial institutions that carry out financial intermediation...
24 Aug, 2023
Chat on Whatsapp
Hey I'm Suman. Let's Talk!