On October 22, 2021, the RBI introduced the Scale-Based Regulation (SBR) framework for NBFCs through the circular titled “A Revised Regulatory Framework for NBFCs” (‘SBR Circular’)[1]. This framework applied to all NBFCs, including Core Investment Companies (CICs) and Housing Finance Comp...
Minimum capital adequacy ratio has been kept at 15% for a small finance bank and payment banks. It has been kept at 9% for local area banks and regional rural banks. According to the RBI’s circular, banks must compute dividends on the basis of the “dividend payout ratio”. Dividend p...
2. RBI has released draft circular on Credit Card Network Portability. RBI has proposed rules that could possibly restrict card issuers from engaging in exclusive arrangements with card networks like Mastercard, Visa or RuPay. The central bank also proposed that rules would apply to both banks and...
The DGFT first notified import restrictions for laptops, tablets, and other IT hardware inAugust 2023. It specified that a valid license would be required for such imports and this notification came into effect starting November 1, 2023. Later, in October 2023, the governmentfloated plansto imple...
Earlier this year, Karnataka’s transport departmentissueda circular introducing uniform fares for cab aggregators like Ola and Uber, dividing cab rides into three categories based on the vehicle’s price. 12,000 have joined out of 1.25 lakhs ...
From May 04, 2023 to June 04, 2023, the competition is open to developers from around the world for submitting application and the TechSprint will conclude around August/ September 2023. Shortlisted teams will be invited to develop their solutions over a period of six weeks, and each team wil...
RBI has removed restrictions in view of the satisfactory compliance demonstrated by AEBC with RBI’s April 2018 circular on “Storage of Payment System Data.” By order dated April 23, 2021, RBI had prohibited AEBC from on-boarding new domestic customers onto its card network from May 1, ...
RBI had issued a circular to this effect to NBFCs in December 2021. The PCA framework is aimed at enabling a supervisory intervention at an appropriate time. It requires the supervised entity to initiate and implement remedial measures in a timely manner to restore its financial health. ...
The circular contains specific deadlines for addressing company appeals of rating actions taken during the periodic rating surveillance. These changes will be applicable, with effect from August 01, 2024. The revised regulations require CRAs to notify companies of their ratings one working day following...