practices, etc., for NBFCs. The cyber security audit for NBFCs performs risk assessment and weakness identification to security measures. The Reserve Bank of India has issued a Master Direction and guidelines for NBFCs to help identify and assess risks and weaknesses in the operations of NBFCs...
The RBI has provided directions for those operating AePS terminals. It stated that the bank responsible must carry out due diligence of all AePS touchpoint operators according to Master Direction – Know Your Customer (KYC) Direction, 2016. Largely, the directions call for conducting KYC throughAa...
The RBI annually publishes the applicable guidelines for FFMC in the form of a master circular called the Memorandum of Instruction on Money Changing Activities. What are the Types of Money Changers? The different types of authorized money changers or dealers are the businesses granted Full ...
IRDA: issues Master Circular on Insurance Advertisements. The guidelines have been issued with the intention of protecting the interest of the insuring public, enhance their level of confidence on the nature of sales material used and ultimately encourage fair business practices. They are to be consi...
d. Accrual payment for full first premium; e. Quoting conventions; and f. Lookback period for credit events. 7.3 Documentation (i) Market participants shall use a standard master agreement for CDS contracts. (ii) The CDS contracts shall, inter-alia, mention the following: ...
22. Co-branding arrangement between banks and NBFCs for Credit Cards NBFCs, which desire to enter into a co-branding arrangement for issue of credit cards with a card-issuer, shall also be guided by the Guidelines on issue of Co-Branded Credit Cards contained in the re...
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...
To provide a framework of rules/regulations/standards/practices to the credit card issuing banks/NBFCs for their credit card business and ensure that the same are in alignment with the best customer practices. Banks should adopt adequate safeguards and implement the following guidelines in order to...
ET reports that the company could have also applied for a licence to the central bank and it could already be under consideration. This though could not be verified as RBI is yet to release the names of the entities which NBFC P2P category and is said to have received multiple applications...