Section 45-I(f) of the Reserve Bank of India Act broadly defines NBFC as: “a financial institution which is a company; OR a non-banking institution which is a company and whose principal business is receiving deposits under any scheme or arrangement or lending in any manner; such other non-banking institution...
Read MoreNBFCs are financial institutions that offer various banking services without constituting the legal definition of a bank. They are primarily governed by the Reserve Bank of India (RBI) and are critical in bridging credit gaps across diverse sectors of the economy. As of March 31, 2024, RBI reported approximately...
Read MoreIntroduction: On 9 May 2007, the erstwhile Ministry of Small-Scale Industries and the Ministry of Agro and Rural Industries were merged to form the Ministry of Micro, Small and Medium Enterprises (M/o MSME). The Ministry designs policies, promotes and facilitates programmes, projects, schemes and monitors their implementation, with a...
Read MoreIndia’s ‘angel tax’ has been a topic of significant debate, often described as an innocuous term with severe implications. Recently, it has resurfaced in the news as Budget 2024-25 has relieved startups from this tax liability. This tax, unique to India, converts capital into taxable income, which seems counterintuitive...
Read MoreThe genesis of promulgating the DPDP Act is protection of huge personal digital data available with various authorities, intermediaries, ecommerce players and different connected parties. The growing digital economy has led to increased concerns over privacy and data security. Data protection in European Union is governed by General...
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