2. RBI has released draft circular on Credit Card Network Portability. RBI has proposed rules that could possibly restrict card issuers from engaging in exclusive arrangements with card networks like Mastercard, Visa or RuPay. The central bank also proposed that rules would apply to both banks and...
3. DBR.No.FSD.BC.18/24.01.009/2015-16 July 1, 2015 Master Circular on Credit Card, Debit Card and Rupee Denominated Co-branded Pre-paid Card Operations of Banks and Credit Card issuing NBFCs 4. DBOD.No.FSD.BC.30/24.01.001/2013-14 July 15, 2013 Unsolicited Comme...
8. GetVantage has obtained a NBFC licence from the RBI. Its NBFC arm GetGrowth Capital would manage the lending operations. GetVantage will capitalize the NBFC with ₹50 crore. It aims to raise ₹200 crore in total to scale up its lending operations. GetVantage is supported by investors...
2022 to adhere to the capital adequacy norms provided for NBFCs (Ref. Annex I of Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016). Accordingly, a separate circular would be is...
2.2 Cases of `negligence and cash shortages' and `irregularities in foreign exchange transactions' referred to in items (d) and (f) above are to be reported as fraud if the intention to cheat / defraud is suspected / proved. However, the following cases...
At that time, PCA became effective based on the financial position of NBFCs on or after March 31, 2022. RBI had issued a circular to this effect to NBFCs in December 2021. The PCA framework is aimed at enabling a supervisory intervention at an appropriate time. ...