confidentiality, integrity and authenticity of information assets for the NBFCs or banks to maintain cyber security. The guidelines focused on the need to cover the identification and classification of information assets, control, personnel and physical security and the use of Public Key Infrastructure ...
Dinesh Unnikrishnan
In India, the primary responsibility of ensuring financial inclusion lies with the commercial banks subject to guidelines of the central bank (RBI). However... Arup Mukherjee,Sabyasachi Chakraborty - 《International Journal on Research & Development A Management Review》 ...
Regardless, the co-lending must comply with other applicable norms, such as the RBI norms on co-lending by banks and NBFCs, which require the funds to be routed through an escrow account with the bank. FLDG: The use of FLDG is one of the issues that is still being examined by the ...
To review regulatory and supervisory approaches on AI with focus on financial sector globally. To identify potential risks associated with AI, if any and recommend an evaluation, mitigation and monitoring framework and consequent compliance requirements for financial institutions, including banks, NBFCs, ...
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...
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, ...
To review regulatory and supervisory approaches on AI with focus on financial sector globally. To identify potential risks associated with AI, if any and recommend an evaluation, mitigation and monitoring framework and consequent compliance requirements for financial institutions, including banks, NBFCs, ...
RBI disallows default loss guarantee on loans via NBFC-P2P partnership ByKul Bhushan May 01, 2024 07:00 IST News Groww receives RBI approval to operate as payment aggregator ByHarsh Upadhyay Apr 30, 2024 08:41 IST News PayU to onboard new merchants as it gets PA license from RBI ...
It has now been decided to issue guidelines to large UCBs and NBFCs on adoption of RBIA. This will enable the creation of independent risk focussed internal audit system. While external statutory auditors remain outside the internal mechanisms of a supervised entity, they are often termed ...