Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
← back
Informative
Invitation of applications for recognition of Self-Regulatory Organisations (SROs) for NBFCs [Read More]
RBI
The Reserve Bank of India (RBI) has launched the process for the recognition of Self-Regulatory Organisations (SROs) specifically for the Non-Banking Financial Company (NBFC) sector, following the issuance of the 'Omnibus Framework' in March 2024. This framework outlines detailed parameters including objectives, eligibility criteria, and governance standards. \r
Interested entities are invited to apply for SRO status, focusing on NBFCs such as Investment and Credit Companies (NBFC-ICCs), Housing Finance Companies (HFCs), and Factors (NBFC-Factors), with potential for other NBFC categories. Applicants must adhere to membership criteria ensuring representation of smaller NBFCs and achieve a minimum net worth of ₹2 crore within one year post-recognition. \r
Applications must be submitted by September 30, 2024, to the RBI’s Department of Regulation in Mumbai for consideration, with decisions based on compliance and suitability under the framework.
