the foreign exchange (Forex) transactions are governed by the Reserve Bank of India (RBI) via the Foreign Exchange Management Act (FEMA). As someone with access to foreign currency, you should know RBI guidelines for Foreign Exchange Transactions. ...
On 1st October 2021, RBI’s regulations on e-mandates or recurring payments via cards to strengthen the safety of card transaction became effective. As per regulatory guidelines on ‘Processing of e-mandate on cards for recurring transactions’, several requirements are mandated for processing ...
The said IMF report highlights several risks of SRT transactions. First of all, it states, basis anecdotal evidence, that banks are providing funding to credit funds for buying tranches of SRT deals of other banks, thereby implying that the risks are eventually within the banking system. It als...
CHAPTER – V GENERAL GUIDELINES FOR CREDIT AND DEBIT CARDS 23. General Conditions (a) Card-issuers shall keep internal records to enable operations to be traced and errors to be rectified (taking into account the law of limitation for the time barred cases) as prescribed under ...
Upload scanned copies of your photograph, signature, and other necessary documents as per the specified format and size guidelines provided in the notification. Step 5: Pay the Application Fee Proceed to the payment section and pay the application fee online using a debit card, credit card, net...
Accelerate your Database Activity Monitoring readiness to comply with Reserve Bank of India (RBI) Guidelines Jan 2024 | Version 24.01 Copyright © 2023, Oracle and/or its affiliates PURPOSE This technical white-paper provides an overview of Database Activity Monitoring requirements for compliance ...
1. Guidelines for digital lending to protect borrowers issued by RBI. As per the new guidelines by RBI, regulated entities cannot store borrowers' data except for some basic minimal information. The lender can now only store information like the name, address, contact details of the customer, ...
Operated by NPCI, AePS is a payment system that enables financial transactions through Aadhaar number and biometrics or OTP authentication.
“The recently issued regulatory guidelines on digital lending strike a well considered balance between customer protection and business conduct on the one hand and supporting innovation on the other,” Das said. He stressed that innovations must be responsible and should enhance the efficiency and res...
The RBI, through Section 10(1) of the Foreign Exchange Management Act of 1999, authorizes entities to deal in foreign exchange for specific purposes. These entities are called Authorized Money Changers (AMCs). The RBI annually publishes the applicable guidelines for FFMC in the form of a maste...