In terms of section 45 - I subsection (f) of Reserve Bank of India Act, 1934, Non Banking Financial Company is defined as
(i) a financial institution which is a company;
(ii) a non-banking institution which is a company and
which has as its principal business the receiving of
deposits, under any scheme or arrangement or in any
other manner, or lending in any manner ;
(iii) such others non-banking institution or class of
such institutions as the RBI may, with the previous
approval of the Central Government and by notification
in the Official Gazette, specify. (Refer also to definitions
of 'Financial Institution' and 'Non-Banking Institution')
II. For purposes of RBI directions relating to acceptance
of Public Deposits, non-banking financial company means
only the non-banking institution which is a -
1) Loan company
2) Investment company
3) Hire purchase finance company
4) Equipment leasing company
5) Mutual benefit financial company
| Name of the Companies |
Rating |
Rate of Interest
% |
Interet Mode Mode-
Min. Amt. (fig. in 000) M/Q/H/Y/C |
|
|
|
12M
|
24M
|
36M
|
48M
|
60m
|
|
|
BAJAJ AUTO FINANCE LTD.
|
FAAA
|
-
|
-
|
6.00
|
-
|
-
|
M-50;C-5;Q-25
|
|
CHOLAMANDALAM FIN. LTD.
|
AAA
|
6.00
|
6.50
|
7.00
|
-
|
-
|
M-25;Q/Y/C/-10
|
|
ESCORTS FINANCE LTD.
|
FA-
|
8.25
|
8.75
|
9.00
|
-
|
-
|
M-15;Q-10;C-5
|
|
FIRST LEASING COMPANYOF INDIA
LTD.
|
MAA+
|
6.50
|
7.50
|
8.00
|
8.00
|
8.00
|
M/Q/H/Y-5
|
"Finance company" means a company engaged
in the business of financing, whether by making loans
or advances or otherwise, of any industry, commerce
or agriculture and includes any company engaged in
the business of hire-purchase, lease financing and
financing of housing.
|
HOUSING
FINANCE COMPANIES ACCEPTING DEPOSITS
|
| BIRLA HOME FINANCE LTD. |
MA |
6.00 |
6.00 |
6.25 |
6.50 |
6.75 |
Q/H-20; Y/C-10 |
| CAN FIN HOMES LTD. |
MAA |
6.00 |
6.25 |
6.50 |
6.50 |
6.75 |
M/Q-10;H/Y/C-5 |
| DEWAN HOUSING FIN. CORP. |
AA |
6.10 |
6.35 |
6.60 |
6.60 |
6.60 |
M-20;Q/H/Y-10 |
| HDFC LTD. |
FAAA |
5.55 |
5.80 |
6.05 |
6.05 |
6.05 |
M-20;Q/Y-10;H/C-5 |
| PNB HOUSING FINANCE
LTD. |
FAA+ |
5.75 |
6.00 |
6.00 |
6.00 |
6.00 |
Q-20, C-10 |
M: MONTHLY; Q: QUARTERLY;
H: HALF YEARLY; Y: YEARLY; C: CUMULATIVE. – : NOT
AVAILABLE MANUFACTURING COMPANIES ACCEPTING FRESH
DEPOSITS
Before investing in fixed deposit schemes of your
choice, please read the statutory advertisement issued
by the company in leading newspapers.
