The RBI has allowed banks to enter into DLG contracts with other lenders according to the new digital lending guidelines for 2023. Here’s what this means for banks & fintech firms.
The article reports on the move of the Reserve Bank of India (RBI) to draft guidelines to allow public sector undertaking (PSU) banks to enter the private equity (PE) domain. It notes that RBI's decision is a response to the plan of Indian public sector banks to enter the PE sector ...
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• Banks will be allowed to fund the asset once it is sold to the new promoter. • The Guidelines are beneficial for the banks to convert debt to equity as it provides for: a) No MTM of equity for initial 18 months, b) no consolidation in bank’s accounts, c) outside capital...
As per the guidelines, all data should be stored only in servers located within India. Borrowers will get the option to exit the digital loan by paying the principal and the proportionate APR without penalty during this period. The guidelines will be applicable to all commercial banks, primary ...
Additionally, RBI has made it illegal for banks to charge penalties for activation of inoperative accounts. The new guidelines mandate that banks notify depositors and account holders that there hasn't been any action for the past year via letters, emails, or phone calls to their registered numbe...
The Reserve Bank of India issued guidance in April 2011 for banks to mitigate the risks of use of information technology in banking operations. RBI Guidelines are the result of the Working Group's recommendations on information security, electronic banking, technology risk management and cyber fraud...
World Bank (2014, January). Guidelines for the Successful Regional Integration of Financial Infrastructures. Google Scholar World Bank (2020).Remittance Prices Worldwide, 34. Google Scholar World Bank (2021).Central Bank Digital Currency: Background Technical Note. © World Bank. ...
The bridge would be the second for the UAE, whose banks successfully participated in the mBridge project last year with Hong Kong, China and Thailand. 17033 News The Reserve Bank of India to launch a retail CBDC pilot in December Nov 22, 2022 by David Attlee The digital rupee is inte...
B. GUIDELINES FOR PERSONS WITH DISABILITIES USING A SCRIBEThe facility of Scribe shall be allowed to a candidate with benchmark disability as defined under section 2(r) of the RPWD Act, 2016 and has limitation in writing including that of speed, if so desired by him/ her. Candidates with...