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…
Read article RBI sensitises public for safe use of digital transactions
Reserve Bank in its press release today (June 22, 2020) said that the bank has set up many digital awareness campaigns for the users of digital transactions. The initiation in this regard has been continuously and actively undertaken in the print and Audio-Visual media, including through Central Bank’s flagship programme RBI Kehta Hai, it said.…
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RBI proposes a few changes for regulatory framework applicable to HFCs
Reserve Bank of India today placed a draft of the changes proposed to be prescribed for HFCs. These are as follows: Classifying HFCs as systemically important (asset size of ₹500 crore & above) and non-systemically important (asset size less than ₹500 crore); Reserve Bank’s directions on Liquidity Risk framework &, LCR, securitisation, etc., for NBFCs,…
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What are the roles of ‘SEBI’ as a capital market regulator?
Updated till December 1, 2023. The Securities and Exchange Board of India (SEBI) was established as the regulator for the Stock and Security market in India under the Securities and Exchange Board of India Act 1992. The main object of SEBI is to protect the interests of investors in securities and promote the development of…
Read article 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…
Interest Subvention Scheme for KCC, Fisheries and Animal Husbandry farmers extended up to August
Updated on June 8, 2020 In view of the extension of moratorium by another three months, i.e., up to August 31, 2020, Government has decided to continue the availability of 2% Interest Subvention and 3% Prompt repayment Incentive (PRI) to farmers for the extended period of repayment up to August 31, 2020, or date of…
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