The Cyber security audit for NBFCs stresses the integral role of providing insights into the effectiveness of controls for ensuring confidentiality and availability. The guidelines suggest that the regulating entities need to periodically submit a report to the RBI for any kind of breach of cyber sec...
RBI issues draft guidelines on fair lending practices for penal charges –Aanchal Kaur Nagpal, Manager and Dayita Kanodia, Executive | finserv@vinodkothari.com Introduction Levying of penal interest/ charges is a punitive measure adopted by lenders on borrowers defaulting in making repayments and/...
Dinesh Unnikrishnan
In India, the primary responsibility of ensuring financial inclusion lies with the commercial banks subject to guidelines of the central bank (RBI). However... Arup Mukherjee,Sabyasachi Chakraborty - 《International Journal on Research & Development A Management Review》 ...
Summary: RBI notifies new IT governance and cybersecurity guidelines for banks, NBFCs The guidelines lay out the IT governance and cybersecurity management measures that all regulated entities must adopt; the guidelines come into effect from April 1, 2024. Sarvesh MNovember 13, 2023 RBI thwart...
The Reserve Bank of India stimulates the auditor’s report under the auditor’s direction as per Section 45MA of the RBI Act, 1934.The RBI guidelines applies to auditors of all the registered and non-registered NBFCs whether they are accepting deposits or not. The Auditor first of all creat...
related and the group in which they have interest, the Reserve Bank of India may impose additional conditions and if warranted, it may withdraw the in-principle approval after issue of the in-principle approval issued by RBI for setting up of a bank in the private sector.Â...
squeeze. Under first two scenarios, around 8% NBFCs will not be able to comply with the minimum regulatory capital requirements of 15%, while under the third scenario, 10% would fail to meet the minimum CAR norm. As on date, as per the RBI, bad loans of the NBFC sector stand at ...
RBI may require the NBFC to invoke claw back and malus clauses and other actions as available in regulatory guidelines, and impose other restrictions or conditions Impose restrictions on Directors’ or Management compensation, as applicable.
Lending by Banks to NBFCs for On-lending to Priority Sectors: Recent RBI Guidelines and Way ForwardManickaraj, M.James, ElizabethVinimaya