Other than just expressing concerns and sending alert signals, NBFCs may need to do self introspection and course correction, for which they would have expected granular observations, as in the case of gold lending vide circular dated September 30, 2024. It may be the expectation of the ...
'These days no Bank opens the deposit account of any customer without proof of date of birth’. Any ‘identity document’ obtained for KYC invariably has a date of birth on it. In the context of the subject line of the above circular while advising banks to ...
31, 2019, RBI released the below circular on a comprehensive Cyber Security Framework for UCBs: RBI Circular dated December 31, 2019 on "Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) – A Graded Approach" https://www.rbi.org.in/Scripts/NotificationUser....
Based on the review of the earlier Master Directions, Circular and emerging issues, these revised Master Directions have been prepared. These Master direction are principle-based. They strengthen the role of the Board in overall governance as well as oversight of fraud risk management in REs. Thes...
As per NPCI circular, the maximum amount that can be transferred is Rs 2 Lakh per transaction. Any transaction more than Rs 2 Lakh will not get processed. IMPS transfer can be done only between the participating banks for IMPS transactions by NPCI. ...
RBI Guidelines on Cyber Security Audit for NBFCs The RBI's Master Direction guidelines, dated June. 2017 outlined the importance of Informed Technology and Cyber Security for NBFCs in RBI circular and guidelines. The information security framework discussed key principles such as confidentiality, integ...
A draft circular in this regard will be issued shortly for public comments. 5. Discussion Paper on Scale-based Regulatory Framework for NBFCs The contribution of NBFCs as a supplemental channel of credit intermediation alongside banks is well recognised. Regulatory regime governing the NBFC sect...
The RBI annually publishes the applicable guidelines for FFMC in the form of a master circular called the Memorandum of Instruction on Money Changing Activities. What are the Types of Money Changers? The different types of authorized money changers or dealers are the businesses granted Full ...
Non-Member Banks Non-Monetary Requirements Non-Negotiable Non-Operating Non-Operating Income Non-Performing Assets Non-Profit Non-Proportional Non-Purpose Loan Non-Qualified Annuities Non-Qualified Plans Non-Qualifying Non-Recourse Non-Recourse Loans Non-Recurring Charge Non-Renewable Resources Non-Renouncea...
31, 2019, RBI released the below circular on a comprehensive Cyber Security Framework for UCBs: RBI Circular dated December 31, 2019 on "Comprehensive Cyber Security Framework for Primary (Urban) Cooperative Banks (UCBs) – A Graded Approach" https://www.rbi.org.in/Scripts/NotificationUser....