Sector: NBFCs

PTC Indian Financial Services sees unprecedented resignation by all the Independent Directors. Must be looked into by regulators urgently.

All 3 independent directors of PTC Indian Financial Services (PFS) have resigned citing corporate governance concerns. I don’t remember something like this happening before. Key points to note – PFS is the NBFC subsidiary of PTC India (65% ownership) Independent directors have raised corporate governance concerns especially on the MD & CEO of PFS, Pawan … Read more

Piramal Enterprises hires Rupen Jhaveri from KKR. An experienced connected hire.

Piramal Enterprises Limited (PEL) has appointed Rupen Jhaveri as Group President, with primary focus on the financial services. Key points to note: This is a newly created position. Jhaveri will be responsible for business development, strategy, merger and acquisition, capital allocation and corporate finance. He has joined from KKR India, where he was the Managing … Read more

RBI brings NBFCs on par with banks in new PCA framework

To further strengthen the supervision on non-banking entities (NBFCs), the Reserve Bank on Tuesday issued revised guidelines on a Prompt Corrective Action (PCA) framework for such companies, excluding government-owned ones, effective from October 1, 2022, on the lines of what it had introduced for banks in 2002. The RBI came up with stricter supervisory norms … Read more

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