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 ...
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 with the RBI Guidelines on Cyber ...
Services by NBFCs (‘Outsourcing Guidelines’), Para 2 lays down stringent conditions for outsourcing to ensure compliance, accountability, and effective risk management. While outsourcing can support operational efficiency, core management functions must remain under the direct control of the regulated ...
As per RBI, use of information technology and their constituents has grown rapidly and is now an integral part of banks' operational strategies; hence the need for a board-approved cyber-security policy. The cybersecurity guidelines issued by the RBI reflect the changing threat landscape financial...
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 (PKI). The guidelines of RBI mandate the need for a cyber-security policy for regulating entities to combat ...
Also, customers might be defining screening criteria based on historical data. Customers requiring these additional guidelines to be included for suggesting PDMs can make suitable changes to the policy. For more information, refer Policies Used to Suggest PDMs topic. The baseline policy suggests the ...
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. ...
It elucidates their potential impact on economies and international trade while acknowledging the technological and operational challenges associated with their implementation. A specific focus on the RBI's role and considerations aims to contribute to the ongoing discourse on the future of digital ...
This whitepaper describes the security controls and processes VMware Cloud on AWS has in place to address these RBI Guidelines. Financial Institutions/Regulated Entities can utilize this information to assess the service risk in terms of security, privacy and business value ...
“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...