Non-Banking Financial Companies Role in India's Development PDF Download
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Author: R. Kannan
Publisher: Springer
ISBN: 9811333750
Category : Business & Economics
Languages : en
Pages : 160
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Book Description
This book examines the trend and growth of non-banking financial companies (NBFCs), both from balance sheet and regulations view-points. It further investigates the role of NBFCs in furthering financial inclusion, last-mile delivery of credit and their contribution to financial sector. Since the Reserve Bank of India (RBI) formally recognised the NBFCs in India in 1964, they have increased significantly in terms of size, form and types of products and instruments. They have also managed their asset quality better than banks. Traditionally they were dependent on banks for funds, but after the global financial crisis they began to tap the capital market. Concomitantly, the RBI regulations have closed the fault lines and tightened rules. The book assesses whether NBFCs in India should be treated as shadow banks, discusses how to achieve the right amount of regulation and safeguards without unduly stifling the NBFC sector, and studies the funding opportunities and challenges of NBFCs in India. As such, it serves as a basic reference for students in finance, and a valuable tool for professionals such as policymakers and investment analysts and other stakeholders in the finance area.
Author: Rakesh Mohan
Publisher: International Monetary Fund
ISBN: 1475570201
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
This paper traces the story of Indian financial sector over the period 1950–2015. In identifying the trends and turns of Indian financial sector, the paper adopts a three period classification viz., (a) the 1950s and 1960s, which exhibited some elements of instability associated with laissez faire but underdeveloped banking; (b) the 1970s and 1980s that experienced the process of financial development across the country under government auspices, accompanied by a degree of financial repression; and (c) the period since the 1990s till date, that has been characterized by gradual and calibrated financial deepening and liberalization. Focusing more the third period, the paper argues that as a consequence of successive reforms over the past 25 years, there has been significant progress in making interest and exchange rates largely market determined, though the exchange rate regime remains one of managed float, and some interest rates remain administered. Considerable competition has been introduced in the banking sector through new private sector banks, but public sector banks continue have a dominant share in the market. Contractual savings systems have been improved, but pension funds in India are still in their infancy. Similarly, despite the introduction of new private sector insurance companies coverage of insurance can expand much further, which would also provide greater depth to the financial markets. The extent of development along all the segments of the financial market has not been uniform. While the equity market is quite developed, activities in the private debt market are predominantly confined to private placement form and continue to be limited to the bluechip companies. Going forward, the future areas for development in the Indian financial sector would include further reduction of public ownership in banks and insurance companies, expansion of the contractual savings system through more rapid expansion of the insurance and pension systems, greater spread of mutual funds, and development of institutional investors. It is only then that both the equity and debt markets will display greater breadth as well as depth, along with greater domestic liquidity. At the same time, while reforming the financial sector, the Indian authorities had to constantly keep the issues of equity and efficiency in mind.
Author: R. Kannan
Publisher: Springer
ISBN: 9811333750
Category : Business & Economics
Languages : en
Pages : 160
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Book Description
This book examines the trend and growth of non-banking financial companies (NBFCs), both from balance sheet and regulations view-points. It further investigates the role of NBFCs in furthering financial inclusion, last-mile delivery of credit and their contribution to financial sector. Since the Reserve Bank of India (RBI) formally recognised the NBFCs in India in 1964, they have increased significantly in terms of size, form and types of products and instruments. They have also managed their asset quality better than banks. Traditionally they were dependent on banks for funds, but after the global financial crisis they began to tap the capital market. Concomitantly, the RBI regulations have closed the fault lines and tightened rules. The book assesses whether NBFCs in India should be treated as shadow banks, discusses how to achieve the right amount of regulation and safeguards without unduly stifling the NBFC sector, and studies the funding opportunities and challenges of NBFCs in India. As such, it serves as a basic reference for students in finance, and a valuable tool for professionals such as policymakers and investment analysts and other stakeholders in the finance area.
Author: Jafor Ali Akhan
Publisher:
ISBN: 9788177082296
Category : Business & Economics
Languages : en
Pages : 224
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Book Description
Non-banking financial companies (NBFCs) constitute a heterogeneous lot of privately-owned, small-sized financial intermediaries which provide a variety of services including equipment leasing, hire purchase, loans, investments and chit fund activities. These companies play an important role in providing credit to the unorganised sector and to the small borrowers at the local level. Hire purchase finance is by far the largest activity of NBFCs. NBFCs have been the subject of focussed attention since the early 1990s. The rapid growth of NBFCs has led to a gradual blurring of dividing lines between banks and NBFCs, with the exception of the exclusive privilege that commercial banks exercise in the issuance of cheques. NBFCs are widely dispersed across the country and their management exhibits varied degrees of professionalism. Furthermore, the depositors have varied degrees of perceptions regarding safety of their deposits while making an investment decision. This book provides an exhaustive account of the functioning of and recent reforms pertaining to NBFCs in India. It also includes an all-India list (as on January 15, 2010) of 314 NBFCs which have been issued certificates of registration by the Reserve Bank of India to hold/accept deposits from public.
Author: Asli Demirguc-Kunt
Publisher: World Bank Publications
ISBN: 1464812683
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals.The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Author: Ms.Prachi Mishra
Publisher: International Monetary Fund
ISBN: 147553356X
Category : Business & Economics
Languages : en
Pages : 68
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Book Description
We examine the strength of monetary transmission in India, using a conventional structural VAR methodology. We find that a tightening of monetary policy is associated with a significant increase in bank lending rates and conventional effects on the exchange rate, though pass-through to lending rates is only partial and exchange rate effects are weak. We could find no significant effects on real output or the inflation rate. Though the message for the effectiveness of monetary transmission in India is therefore mixed, our results for India are more favorable than is often found for other developing countries.
Author: Editors : Raj Kapila & Uma Kapila
Publisher: Academic Foundation
ISBN: 9788171883080
Category :
Languages : en
Pages : 332
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Book Description
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498321860
Category : Business & Economics
Languages : en
Pages : 73
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Book Description
The paper finds that while there are important regional and national differences, countries are broadly embracing the opportunities of fintech to boost economic growth and inclusion, while balancing risks to stability and integrity.
Author: World Bank
Publisher: World Bank Publications
ISBN: 9780821364321
Category : Business & Economics
Languages : en
Pages : 494
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Book Description
In the wake of the financial crises of the late 1990s, there was a surge of interest in the systematic assessment of financial sectors, with a view to identifying vulnerabilities and evaluating the sector's developmental needs. Consequently, there has been an increased demand from financial sector authorities in many countries for information on key issues and sound practices in the assessment of financial systems and the appropriate design of policy responses. In response, Financial Sector Assessmsnet presents a general analytical framework and broad guidance on approaches, methodologies and key techniques for assessing the stability and development needs of financial systems. It synthesizes current global sound practices in financial sector assessment.
Author: El Bachir Boukherouaa
Publisher: International Monetary Fund
ISBN: 1589063953
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Author: Peter Lindner
Publisher: International Monetary Fund
ISBN: 1498341071
Category : Business & Economics
Languages : en
Pages : 19
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Book Description
The financial performance of India's corporate sector has been under pressure since the Global Financial Crisis. Balance-sheet data on a large cross-section of Indian non-financial corporates show that the growth in their leverage over the last 15 years has been associated with a notable increase in the vulnerabilities of firms carrying high interest payment burdens. Gauged by the debt carried by the most vulnerable component of firms, the Indian corporate sector’s vulnerability to severe systemic shocks has increased to levels not seen since 2001. Progress on the macroeconomic front, together with improved credit appraisals and stricter impairment standards on the bank side, will be critical to help India's banks resume their role as economic growth drivers.
