RBI rolls out Master Direction on Information Technology Governance, Risk, Controls and Assurance Practices to regulate NBFCs/ CICs etc.; gains effect from 01.04.2024
The Reserve Bank of India (“RBI”) has rolled out the “Master Direction – Information Technology Governance, Risk, Controls and Assurance Practices” (“Master […]
The Lender Banks Must Give an Opportunity of Hearing to the Borrower Companies before Classifying their Accounts as Frauds
In a recent case before the Supreme Court (“SC”), the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and […]
RBI proposes to prescribe a Master Direction on IT Governance, Risk, Controls and Assurance Practices for NBFCs in Top, Upper and Middle Layers as per Scale Based Regulation
The Reserve Bank of India has issued a Draft Master Direction – Information Technology Governance, Risk, Controls and Assurance Practices (“Draft MD”) […]
RBI issues Standard Operating Procedure for Inter-operable Regulatory Sandbox
The Reserve Bank of India has issued Standard Operating Procedure for Inter-operable Regulatory Sandbox. In order to facilitate testing of innovative products/services […]
RBI launches a web-based application “DAKSH” to strengthen the supervisory processes and improve the compliance culture in Banks, NBFCs, etc.
The Reserve Bank of India (“RBI”) has launched a new SupTech initiative named “DAKSH – Reserve Bank’s Advanced Supervisory Monitoring System” with […]
RBI reviews Prudential Norms – Risk Weights for Exposures guaranteed by Credit Guarantee Schemes (CGS)
The Reserve Bank of India has advised that the risk weight of 0% will be applicable in respect of exposures guaranteed under […]
RBI issues notification w.r.t “Provisioning Requirement for Investment in Security Receipts”; lending institutions to put in place a board approved plan to ensure compliance to prescribed provisioning requirements
The Reserve Bank of India has issued a notification regarding “Provisioning Requirement for Investment in Security Receipts (SRs)”. In order to provide […]
RBI rolls out directions to regulate Credit, Debit and Co-branded Card businesses; slated to gain effect from 1st July, 2022;directions on credit cards applicable on all NBFCs as well
The Reserve Bank of India (“RBI”) has rolled out the Master Direction – Credit Card and Debit Card – Issuance and Conduct […]
RBI fixes the applicable average base rate to be charged by NBFC– Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter starting January 1, 2022
In a Press Release dated 31st December, 2021, the Reserve Bank of India has communicated that the applicable average base rate to […]