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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 ...
The REs need to have business continuity and disaster recovery plans in place in case of a major breach or contract termination. The guidelines drafted by the RBI are to mitigate such risk and eliminate any events that could put REs in trouble. ...
2. Recovery of Penal Charges on Loans In terms of extant guidelines, Regulated Entities (REs) have the operational autonomy to formulate Board approved policy for levy of penal interest on advances which shall be fair and transparent. The intent of penal interest was essentially to inculcate a ...
The precise scope of facilitation and intermediation are covered in sectoral regulations, where the regulator considers what degree of facilitation will cross this threshold (for example under the DIPP Press Note, and the Digital Lending Guidelines) Marketplace entities, to the extent that they are ...
Government has extended the period for export of goods imported for repairs from six months to one year. Additionally, the period of time that items may be reimported for warranty repairs has been increased from three to five years. Royalties were abolished in the New MRO Guidelines, which wen...
The new guidelines need to be complied with for existing loans by the end of November, and immediately for new loans or new customers. Along with these, the RBI has also listed multiple issues for the next round of discussions with stakeholders. ...
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, ...
Here we detail about the Prudential Accounting norms of RBI, i.e., (A) Recognition of Income; (B) Classification of Assets; and (C) Provision for Loans & Advances! A. Recognition of Income: The commercial banks must follow the guidelines presented by the RBI recommended by Narasimham Commit...
Private consumption, despite strong recovery in Q2:2021-22, remains below its pre-pandemic level and demand for contact-intensive services could potentially face headwinds if authorities take pre-emptive steps to contain the fallout of Omicron. Downside risks remain significant rendering the outlook ...