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Wednesday, Mar 01, 2006
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 Opinion - NBFCs
Money & Banking - Budget


NBFC granted audience

One of the senior officials in a non-banking finance company remarked recently that for the first-time the Finance Minister granted an audience to the NBFC sector. This meeting seems to have had the desired effect. The service tax on lease and hire-purchase transactions has been rationalised and will not be applicable up to 90 per cent of the amount paid as instalments.

Non-banks financing acquisitions of assets are now in the midst of a great run with both volumes and margins increasing. They have also attracted institutional investment, and recognition from the policy makers, however minor, is a welcome change for the industry.

BL Research Bureau

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