The Russian collection association “Rosinkas” has proposed to establish a National Collection Company (NIK) on its basis. It was reported “Vedomosti”.
According to the initiative, the majority stake in the new structure will belong to the Bank of Russia, while commercial banks will be able to purchase the remaining shares. The proposal emerged after the publication of the Central Bank’s consultation report on the market of cash collection services. In the document, the regulator considered the possibility of granting Rosinkas the authority to regulate tariffs and create a self-regulatory body in this area.
Rosinkas expressed concern that the social function of ensuring cash circulation in the country was transferred to the association. In addition, the organization is not a department of the Central Bank and works on a contractual basis with the regulator.
At the beginning of August the company reported Regarding the reduction of the number of collection operations by 30% after the increase in the free transfer limit to 30 million rubles. This reduced the need for interbank cash transfers, which negatively affected Rosinkas’ income, and the company began to revise tariffs for customers.
Previous analysts guess Slowing wage growth in Russia.
What are you thinking?
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.