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, e...
The guidelines have significantly impacted the lending industry, particularly for models which leverage the use of pool/ or pass-through accounts, buy-now-pay-later (BNPL), and co-lending models. Current Digital Lending Landscape in India Current digital lending models in India are numerous. Partne...
India is on the verge of a digital lending revolution and making sure that this lending is done responsibly can ensure the fruits of this revolution are realized. As several players have access to sensitive consumer data, there must be clear guidelines around, for example, the type of data ...
As you navigate this journey, remember that ICICI Bank Home Loans offer streamlined digital processes and competitive interest rates, aligning with RBI guidelines for Home Loans to help you easily achieve your home ownership goals. Your dream home is within reach with ICICI Bank Home Loans. Apply...
In India, companies hoping to provide street view services have to jump through some hoops to make it happen. According to the Department of Science and Technology’sGuidelines for acquiring and producing Geospatial Data and Geospatial Data Services, Indian companies are free to acquire, collect, ...
The licences ofNBFCshave been cancelled for violating RBI guidelines on outsourcing and Fair Practices Code in their digital lending operations. As per RBI, these five NBFCs will not carry out the business of a Non-Banking Financial Institution (NBFI), as defined in clause (a) of Section 45...
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...
Companies issuing PPIs mustcomplywith RBI guidelines. These include customer verification processes, transaction limits, and maintaining a certain level of liquidity. The RBImandatescertain consumer protection measures, including ensuring the security of transactions and offering grievance redressal mechanisms. ...
Instant Loans by Chintamani Finlease: Access a wide range of loans including personal, gold, business, and more, all at competitive low interest rates.
NBFCs failing to comply with the RBI guidelines must pay heavy fines. If your NBFC repeatedly fails compliance, the RBI can cancel its license, forcing you to suspend operations. The RBI can start legal action against your NBFC and its directors for significant violations. If your NBFC continue...