‘Move to bring NBFCs in Sarfaesi Act for recovery beneficial’
Posted: March 9, 2015 at 2:46 pm
PTI Feb 28, 2015, 04.34PM IST
(Currently, NBFCs can only)
MUMBAI: Large non-banking financial companies (NBFCs) have hailed the Budget proposal to include them under the Sarfaesi Act, as it will expedite the loan recovery process and help contain bad debt in the system.
Finance Minister Arun Jaitley presenting his first full Budget today said, "It is proposed that NBFCs registered with the RBI and having asset size of Rs 500 crore and above will be considered for notifications as 'financial institution' in terms of the Sarfaesi Act, 2002."
He said the move will bring parity in regulation of NBFCs with other financial institutions in matters relating to recovery.
"Including large NBFCs under the Sarfaesi Act are structural changes that will improve the viability of these growing intermediaries," Ananda Bhoumik, senior director (banks and FIs) at India Ratings said.
The Sarfaesi Act will enable large NBFCs to fund SME and mid-corporate businesses with lower loss prospects, he added.
IDFC managing director and CEO Vikram Limaye said, "This move is positive as NBFCs also require to excercise security. It will help them to recover their loans."
Currently, NBFCs can only approach the civil courts to recover loans from the borrowers, which usually use to take longer time.
"Earlier, to recover loans it used to take 2-2.5 years as legal processes take long time. This move will accelerate the recovery process and will bring down the NPA recovery time to 6-8 months," Kavi Arora, CEO of Religare Finvest, the NBFC arm of Religare Group said.
See the rest here:
'Move to bring NBFCs in Sarfaesi Act for recovery beneficial'
- Dance Lesson, Nina Atkinson: 5 Upper Body Excercise: Shoulder Relaxation - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- *Bleep* Excercise - Episode 2: Hills and Thrills - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Excercise reverse offspring obesity @ ABC News 9 Feb 2012 - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Excercise Guru Michaels on Healthy Diet Choices - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Killer Home Ab Workout: How To Get 6 Pack Abs Excercise in 10 Minutes Fast - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Joe Bonamassa Inspired Guitar Lick - Blues Rock Guitar Lessons - Speed Building Excercise - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Fitness Pump Excercise Infomercial - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Jog Vlog and how I stretch/excercise - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Kettle Bell and Abs on Excercise Ball - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Geriatrics and Excercise - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Mixing Drum and Bass. Excercise on a new way of helping you to count. - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Knee Strengthening/Rehab Exercises - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Deen Castronovo double bass drum excercise - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Airport fire fighter training excercise. Manchester Airport UK - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Aerobics Excercise for Weight Loss at sculpt.co.in - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Tennis Elbow Strengthening Exercises Total Tendon.com - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- The Living Daylights Score ''Exercise At Gilbraltar'' - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- On-Site Inspection: Integrated Field Excercise 2008 Movie - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Traps Excercise by Luimarco - Video [Last Updated On: March 15th, 2012] [Originally Added On: March 15th, 2012]
- Some Excercise Before Sleep - Video [Last Updated On: March 16th, 2012] [Originally Added On: March 16th, 2012]
- Cash boost for carers [Last Updated On: March 17th, 2012] [Originally Added On: March 17th, 2012]
- Google Webmaster Tools Crawl Errors: How To Get Detailed Data From the API [Last Updated On: March 18th, 2012] [Originally Added On: March 18th, 2012]
- Quick Excercise Gym - Video [Last Updated On: March 18th, 2012] [Originally Added On: March 18th, 2012]
- Haya Baby Excercise - Video [Last Updated On: March 18th, 2012] [Originally Added On: March 18th, 2012]
- wii fit math excercise - Video [Last Updated On: March 18th, 2012] [Originally Added On: March 18th, 2012]
- Govt to take “corrective” steps to deal with oil prices: Pranab [Last Updated On: March 18th, 2012] [Originally Added On: March 18th, 2012]
- Getting excercise - Video [Last Updated On: March 18th, 2012] [Originally Added On: March 18th, 2012]
- Katelyn State Level 10 Floor Excercise 2012 - Video [Last Updated On: March 19th, 2012] [Originally Added On: March 19th, 2012]
- Bigger Butt Excercise - Few Simple Tips and Advices - Video [Last Updated On: March 20th, 2012] [Originally Added On: March 20th, 2012]
- 60% failed physical at top university [Last Updated On: March 20th, 2012] [Originally Added On: March 20th, 2012]
- Booty Excercise - Video [Last Updated On: March 20th, 2012] [Originally Added On: March 20th, 2012]
- STAGE 01 Emotion Detoxification Excercise - Video [Last Updated On: March 21st, 2012] [Originally Added On: March 21st, 2012]
- Mama Lyn Doing Excercise Around Chigang Pagoda Part 1.m4v - Video [Last Updated On: March 21st, 2012] [Originally Added On: March 21st, 2012]
- Flying cycle excercise - Video [Last Updated On: March 24th, 2012] [Originally Added On: March 24th, 2012]
- Rigid Bodies Excercise - Video [Last Updated On: March 24th, 2012] [Originally Added On: March 24th, 2012]
- Joy Equipment Protection Inc. Fire Training Excercise - Video [Last Updated On: March 24th, 2012] [Originally Added On: March 24th, 2012]
- Abdominal Excercise Instruction-2EZ - Video [Last Updated On: March 25th, 2012] [Originally Added On: March 25th, 2012]
- Staircase excercise London UK 9 mar 2012 george godley 00269.MTS - Video [Last Updated On: March 26th, 2012] [Originally Added On: March 26th, 2012]
- Hannon Excercise #1 Piano - Video [Last Updated On: March 26th, 2012] [Originally Added On: March 26th, 2012]
- Linh, excercise's learned in kindergarden - Video [Last Updated On: March 27th, 2012] [Originally Added On: March 27th, 2012]
- Mirror's Edge - An Excercise in Dieing A Lot - Part Nine - Video [Last Updated On: March 27th, 2012] [Originally Added On: March 27th, 2012]
- Excercise ni Yas.. hahaha - Video [Last Updated On: March 27th, 2012] [Originally Added On: March 27th, 2012]
- Spirit of Alabama: Student Volunteers [Last Updated On: March 28th, 2012] [Originally Added On: March 28th, 2012]
- DVD Review: Happily Divorced - Season One [Last Updated On: March 28th, 2012] [Originally Added On: March 28th, 2012]
- Losing Weight Without Excercise. - Video [Last Updated On: March 28th, 2012] [Originally Added On: March 28th, 2012]
- American Council on Exercise Shares Most Common Exercise Mistakes and Fixes to Avoid Them [Last Updated On: March 28th, 2012] [Originally Added On: March 28th, 2012]
- monkeygluver... Frantic Factory Tutorial's Part 3 Both Hands Excercise - Video [Last Updated On: March 29th, 2012] [Originally Added On: March 29th, 2012]
- Twittcreep Excercise One Doc - Video [Last Updated On: March 29th, 2012] [Originally Added On: March 29th, 2012]
- Excercise F 3 - Video [Last Updated On: March 30th, 2012] [Originally Added On: March 30th, 2012]
- Excercise F 2 - Video [Last Updated On: March 30th, 2012] [Originally Added On: March 30th, 2012]
- 2008 Olympics Alicia Sacramone (USA) Team Prelims Floor Excercise - Video [Last Updated On: March 30th, 2012] [Originally Added On: March 30th, 2012]
- Home Ab Workout : How To Get 6 Pack Abs Excercise in 8 Minutes Fast - Video [Last Updated On: March 30th, 2012] [Originally Added On: March 30th, 2012]
- A force for health [Last Updated On: March 30th, 2012] [Originally Added On: March 30th, 2012]
- Excercise F part 2 number 2 - Video [Last Updated On: March 30th, 2012] [Originally Added On: March 30th, 2012]
- Excercise f - Video [Last Updated On: March 30th, 2012] [Originally Added On: March 30th, 2012]
- Faded- Lyrical Excercise "Just A Verse" - Video [Last Updated On: March 31st, 2012] [Originally Added On: March 31st, 2012]
- great shoulder excercise by Mr rupak gc - Video [Last Updated On: March 31st, 2012] [Originally Added On: March 31st, 2012]
- Spanish Guitar Excercise - Video [Last Updated On: March 31st, 2012] [Originally Added On: March 31st, 2012]
- Beyond Life (Commercial - Excercise, 1st edit) - Video [Last Updated On: March 31st, 2012] [Originally Added On: March 31st, 2012]
- Beyond Life (Commercial - Excercise, 2nd edit) - Video [Last Updated On: April 1st, 2012] [Originally Added On: April 1st, 2012]
- TRS Excercise On Parakala By Elections To Put Check To BJP (TV5) - Video [Last Updated On: April 20th, 2012] [Originally Added On: April 20th, 2012]
- excercise of strikes - Video [Last Updated On: April 20th, 2012] [Originally Added On: April 20th, 2012]
- Excercise workout ideas - Video [Last Updated On: April 24th, 2012] [Originally Added On: April 24th, 2012]
- Excercise kit embroidery - Dawnray Sports - Video [Last Updated On: April 24th, 2012] [Originally Added On: April 24th, 2012]
- 20 minute workout...with "joe" - Video [Last Updated On: April 24th, 2012] [Originally Added On: April 24th, 2012]
- US-Philippines Bakikatan excercise to end on high note Friday [Last Updated On: April 27th, 2012] [Originally Added On: April 27th, 2012]
- dancing is Fun excercise - Video [Last Updated On: April 27th, 2012] [Originally Added On: April 27th, 2012]
- PS3 Cabela's Adventure Camp Excercise Trophy and Platinum - Video [Last Updated On: April 27th, 2012] [Originally Added On: April 27th, 2012]
- Excercise using Powerplate - Video [Last Updated On: April 27th, 2012] [Originally Added On: April 27th, 2012]
- Bodemeister's rise tops Kentucky Derby storylines [Last Updated On: April 29th, 2012] [Originally Added On: April 29th, 2012]
- Positivity Excercise 1 - Video [Last Updated On: April 29th, 2012] [Originally Added On: April 29th, 2012]
- Kentucky Derby: Dubai's Sheikh Mohammed sets his sights on a victory at Churchill Downs [Last Updated On: May 1st, 2012] [Originally Added On: May 1st, 2012]
- Excercise - Do the Peter Griffin - Video [Last Updated On: May 1st, 2012] [Originally Added On: May 1st, 2012]
- Kentucky Derby has 21 horses entered, 1 above max [Last Updated On: May 3rd, 2012] [Originally Added On: May 3rd, 2012]
- Azizi Childhood, Food Cooking Excercise, Hasb e Haal - By TVMuzika - Video [Last Updated On: May 3rd, 2012] [Originally Added On: May 3rd, 2012]
- Gymnastic [Last Updated On: May 7th, 2012] [Originally Added On: May 7th, 2012]
- STREET NIZM EXCERCISE SHORTCUTS (REDUX) - Video [Last Updated On: May 7th, 2012] [Originally Added On: May 7th, 2012]
- Excercise Shannon 5th May 2012 - Emergency Vehicle Convoy ( Part 1 ) - Video [Last Updated On: May 7th, 2012] [Originally Added On: May 7th, 2012]
- My excercise! - Video [Last Updated On: May 7th, 2012] [Originally Added On: May 7th, 2012]
- Funniest Excercise Ball Falls - Video [Last Updated On: May 7th, 2012] [Originally Added On: May 7th, 2012]