Is Cashfree Payments compliant with the new RBI Lending Guidelines? Yes Why were the new Lending Guidelines needed? With the digitisation of lending, collaborations between entities are common. For instance, regulated entities (REs) like banks or NBFC may partner with: Non-bank companies that provi...
Regardless, the co-lending must comply with other applicable norms, such as the RBI norms on co-lending by banks and NBFCs, which require the funds to be routed through an escrow account with the bank. FLDG: The use of FLDG is one of the issues that is still being examined by the ...
Banking Sector & NBFCsWhy in NewsRecently, the Reserve Bank of India (RBI) Working Group (WG) Committee has made recommendations pertaining to Digital Lending, including a separate legislation to prevent illegal digital lending activities.The
The Reserve Bank of India (RBI) has barred four NBFCs- Navi Finserv Limited, DMI Finance Private Limited, Asirvad Micro Finance… Simone LoboOctober 18, 2024 RBI to create public repository for lending apps, increase UPI transaction limit The Reserve Bank of India (RBI) will create a publ...
“The proposed acquisition aims to build on a successful six-year business and equity partnership,” the lending firm added. The acquisition reportedly cost the company between $190-200 million and is yet to receive approval from the Reserve Bank of India (RBI), according to areportby The ...
MUDRA stands for “Micro Units Development and Refinance Agency” and acts as a new financial entity for developing and Refinancing financial intermediaries like Bank, NBFCs, and MFIs, who are in the business of lending to smaller Microenterprises in the Manufacturing, Trading and Services sector ...
Digital lending guidelines protect customers and promote trust In August 2022, the RBI published a set ofmuch anticipated regulationsthat were tailor-made for digital lenders. The guidelines put requirements in place to protect customers’ interests and established rules around fees, the use of digital...