India’s financial system stands on the foundation of robust regulation and forward-looking reforms. With the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), and the government working in tandem, the country continues to reinforce stability, transparency, and resilience in the face of global and domestic challenges. RBI’s Role in Safeguarding…
The money market is a vital segment of India’s financial system, providing short-term funding and liquidity solutions for corporates, banks, and the government. To ensure stability, transparency, and investor confidence, money market instruments are closely regulated—primarily by the Reserve Bank of India (RBI), with the Securities and Exchange Board of India (SEBI) playing a complementary…
The Reserve Bank of India’s (RBI) latest guidelines for Internet Banking in 2025 focus on enhancing security, protecting consumers, improving transparency, and maintaining customer choice in digital banking services. Customer Consent and Service Choice RBI now mandates that banks cannot force customers to enroll in digital banking just to access other banking facilities such as…
The Reserve Bank of India introduced the Banking Ombudsman Scheme (BOS) in India on June 14, 1995. The scheme provides a speedy and inexpensive platform to resolve the complaints of bank customers relating to deficiency in banking service. There are 15 offices of Banking Ombudsmen across the country. The Banking Ombudsman is a senior official…
Audits and inspections serve as integral components of a comprehensive compliance framework. While both are designed to ensure conformity with applicable laws, regulations, and internal policies, they differ in scope and focus. Together, they help organizations identify compliance risks, enhance operational integrity, and promote a culture of accountability and continuous improvement. Key Functions of Audits…
Interest rates play a central role in shaping India’s economy—affecting everything from how much people pay on home loans to how businesses finance their operations. The Reserve Bank of India (RBI) is the primary authority responsible for regulating interest rates, ensuring that they support both economic growth and financial stability. Role of the RBI in…
The Reserve Bank of India in May 2015 notified all public sector banks and some private sector and foreign banks to appoint an internal ombudsman. The internal ombudsman would be designated Chief Customer Service Officer (CCSO). The CCSO should not have worked in the bank in which he/she was appointed as CCSO. The Reserve Bank…
In India, nomination laws play a vital role in ensuring the smooth transfer of assets—such as bank accounts, insurance policies, mutual funds, and other holdings—after the death of the owner. While the nominee receives the asset, it’s important to understand that they are not always the ultimate legal owner. Instead, they often act as a…
The provisions of nomination are found in various financial products like Life Insurance, Provident Fund, Gratuity, Co-operative societies and banking regulation acts (section 45ZC to 45 ZF) and Banking Companies (Nomination) rules 1985 and the relevant provisions of the Indian Succession Act. The nomination facility is available only to individual depositors and not to any…
