Macquarie receives NBFC registration in India

Macquarie Group (Macquarie, ASX:MQG) today announced the Reserve Bank of India (RBI) has approved its application for the registration of Macquarie Finance (India) Private Limited (MFIPL) as a Non Banking Financial Company (NBFC).

MFIPL is a wholly owned subsidiary of Macquarie Group and will provide a range of financing products and services to clients of the Macquarie Group in India.

Fitch Ratings has assigned Macquarie Finance (India) Private Limited (MFIPL) a National Long-term rating of AAA (ind).

“Having an NBFC registration is an important milestone for Macquarie in India as it allows the group to expand the range of products and services offered by the businesses currently operating here,” said Christian Drysdale, Managing Director in the Macquarie Securities Group based in Mumbai.

Macquarie has a significant presence in India. Its business activities include corporate finance and advisory, infrastructure funds management, cash equities sales and research, and private wealth management.

“The NBFC registration provides opportunities for other businesses within the Macquarie Group to commence activities here in India,” Mr Drysdale added.

Activities that can be conducted by RBI registered NBFCs include leasing, corporate and consumer financing, and the provision of loans and advances.

Macquarie Group Limited

About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services.

Macquarie’s main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world.

Macquarie Group Limited is listed in Australia (ASX:MQG; ADR:MQBKY) and is regulated by APRA, the Australian banking regulator, as the owner of Macquarie Bank Limited, an authorised deposit taker. Macquarie also owns a bank in the UK, Macquarie Bank International Limited, which is regulated by the FSA. Macquarie's activities are also subject to scrutiny by other regulatory agencies around the world.

As an owner and manager of significant community assets, Macquarie works closely with governments around the world to deliver important services including transport, roads, airports and utilities. Funds which manage these assets contributed approximately ten per cent of Macquarie’s total underlying operating income for the year ended 31 March 2010.

Macquarie’s approach to risk management is long-standing. Strong risk management practices are embedded in business unit management with central oversight of credit, market, funding, compliance and operational risk. These, together with a strong, committed team are key drivers of Macquarie’s success.

Founded in 1969, Macquarie employs more than 14,600 people in approximately 70 office locations in 28 countries. At 31 March 2010, Macquarie had assets under management of $A326 billion.