The regulated entities or lenders (REs) also engage agents, called lending service providers’ (LSPs), for various legs of the lending process, like customer acquisition, underwriting, disbursal, or collection under RBI outsourcing and other norms. LSPs and DLAs, unlike typical ‘balance sheet ...
2. In engaging cloud services, REs shall ensure, inter alia, that the Outsourcing of IT Services policy addresses the entire lifecycle of data, i.e., covering the entire span of time from generation of the data, its entry into the cloud, till the data is perm...
Additionally, banks can only enter into DLG agreements with LSPs or other banks incorporated as companies under the Companies Act 2013 and with whom they’ve also entered into outsourcing agreements. What should Banks & Fintech Firms Know About RBI’s FDLG Here are the key takeaways for regula...
TSPs are an intermediation layer between AAs and Financial Information Users. TSPs are responsible for decrypting data. CAMSfinserv CEO Tejinder Singhexplainedin an interview with MediaNama, “The FIU, being a regulated entity, is well within its right to have outsourcing partners like TSPs to ...
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...
Card-issuers shall ensure that in cases where the proposed co-branding partner is a financial entity, it has obtained necessary approvals from its regulator for entering into the co-branding arrangement. 20. Outsourcing of activities Card-issuers shall also be liable for the ...
Outsourcing Ownership Parenting Partnership Partnerships Patents Patterns Payment Cards Payment Methods Payment Processing Payment Systems Payments Payroll Peer-to-Peer Lending Pension Pension Planning Pension Plans Pensions Performance Analysis Performance Management Performance Measurement Performance Metrics Personal ...