Growth and development of non-banking financial companies in


REGULATORY AUTHORITIES OF NBFCS



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4. REGULATORY AUTHORITIES OF NBFCS

All the NBFCs are not regulated by the RBI. The regulatory authorities of different types of NBFCs are shown in Table Nob TABLE NO. 3: REGULATORY AUTHORITIES OF NBFCS

Sl. No. Type of NBFCs Name of Regulatory Authority
1 Equipment Leasing Companies RBI
2
Hire-Purchase Finance Companies RBI
3 Loan Companies RBI
4 Investment Companies RBI
5
Residuary Non-Banking Companies RBI
6 Misc. Non-Banking Companies Chit Funds) RBI and Registrar of Chits of the concerned States
7 Mutual Benefit Finance Companies
(Nidhis and Potential Nidhis) Department of Company Affairs, GoI
8 Micro Finance Companies Department of Company Affairs, GoI
9 Housing Finance Companies
NHB
10 Insurance Companies Insurance Regulatory and Development Authority of India(IRDA)
11 Stock Broking Companies
SEBI
12 Merchant Banking Companies
SEBI
Source: Report on Trend and Progress of Banking in India, 2003-04, RBI, Page 147.



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