RBI Takes Extraordinary Measures to Fight Coronavirus Threat
The Reserve Bank of India (RBI) slashes key rates to record low, boosts liquidity, orders reprieve of 3 months on loan repayments, and scraps inflation and growth forecasts for the year The RBI...
View ArticleReserve Bank of India’s Call to Form Payments Entity Raises Interest amonst...
Reliance, Paytm, NSE, BSE and others express interest in RBI’s ‘new umbrella entity’ system The Reserve Bank of India’s attempt to bring private sector entities to participate in the operation and...
View ArticleReserve Bank of India (RBI) Introduces One-time Loan Restructuring
Loan restructuring to stem runaway rise in NPAs this fiscal The Reserve Bank of India’s (RBI) move on one-time loan restructuring will help soften the Covid-19 pandemic’s impact on the asset quality of...
View ArticleReserve Bank of India (RBI) Requests Lenders To Report More Information On...
The Reserve Bank of India has asked banks and other lenders to start reporting more in-depth data on commercial borrowers to credit information companies. According to a notification on the regulator’s...
View ArticleReserve Bank of India (RBI) Issues Eligibility Norms for Entities Harnessing...
RBI Issues Eligibility Norms for Entities Harnessing Credit Bureau Data – Check The Guidelines The Reserve Bank of India (RBI) issued eligibility criteria for entities that harness data from credit...
View ArticleIndia: Credit Information Companies Directed to Appoint Internal Ombudsman by...
Credit Information Companies (CICs) will have to appoint an Internal Ombudsman by April 1, 2023, according to the framework announced by the Reserve Bank of India on 6th of October. “These directions...
View ArticleRBI Bans Unregulated Access to Consumer Credit History for FinTechs
The Reserve Bank of India(RBI) has barred unregulated fintech firms from accessing the consumer credit history. In a letter sent to all commercial banks and NBFCs, the apex banking body directed them...
View ArticleRBI Restricts Access to Credit Data of Consumers
The Reserve Bank of India has ordered commercial banks and non-banking lenders to stop providing unregulated entities access to consumer data held by credit bureaus, dealing a blow to scores of fintech...
View ArticleRegulatory: RBI Allows Aadhaar-based Video-KYC for Onboarding and to...
India is now officially the first country to roll out video-KYC for financial institutions The Reserve Bank of India (RBI) has approved remote video-based authentication through Aadhaar as a substitute...
View ArticleIndian RBI Revises Definition of Politically-Exposed Persons for KYC Purpose
Synopsis The earlier norms pertaining to PEPs were open-ended and there was a lack of clarity on the definition, apparently leading to issues for bankers, parliamentarians and others. There were also...
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