Who is required to register security interests with CERSAI after the SARFAESI amendment 2019?

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002(SARFAESI Act 2002) provide for Enforcement of Security Interest for the realization of the dues without the intervention of Courts or Tribunals for recovery of NPAs by banks under various laws. In 2016 NBFC is included under the definition of the financial institution through…

RBI directs banks, NBFCs and digital lending platforms to adhere Fair Practices Code and Outsourcing Guidelines

While issuing guidelines, on digital lending platforms on Wednesday (June 24, 2020) the Reserve Bank of India directed banks, NBFCs and digital lending platforms to disclose full information upfront on their websites to customers. The direction comes against the backdrop of several complaints relating to exorbitant interest rates and harsh recovery measures, among others, against…

RBI proposes revision in securitization definition for Sale of Loan Exposures including Standard Assets

Reserve bank of India proposes revision in definition of securitisation and lowered the stake the originating bank or non-banking finance company has to keep in the securitised asset.  The Banking Regulator  has placed on its website two draft documents for public comments – the ‘Draft Framework for Securitisation of Standard Assets’ and ‘the Draft Comprehensive…