RBI sets norms for NBFC dividend distribution
The Hindu
The Reserve Bank of India (RBI) has decided to prescribe guidelines on distribution of dividend by NBFCs to infuse greater transparency and uniformity in the practice.The guidelines will be effective
The Reserve Bank of India (RBI) has decided to prescribe guidelines on distribution of dividend by NBFCs to infuse greater transparency and uniformity in the practice. The guidelines will be effective for declaration of dividend from the profit for the financial year ending March 31, 2022 and onwards. “The board of directors, while considering the proposals for dividend, will take into account supervisory findings of the Reserve Bank (National Housing Bank (NHB) for HFCs) on divergence in classification and provisioning for non-performing assets (NPAs), qualifications in the auditors’ report to the financial statements; and long-term growth plans of the NBFC,” the RBI said in a circular.
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