Regulatory-Updates-for-the-month-of-November-2024-.docxDownload Chains of control: Change of control approval keeps NBFCs perplexed, often non-compliant November 28, 2024/0 Comments/in Financial Services, NBFCs, RBI /by Vinod Kothari –Vinod Kothari (vinod@vinodkothari.com) Paragraph 42 of the...
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, FinTechs, PSOs, etc. To recommend a framework including governance aspects for responsible, et...
The desire and need to minimize cyber risks from the growing technology used by theNBFCs. The guidelines by RBI state the NBFCs' rules and regulations related to customer protection, data security, audit function, corporate governance, and risk assessment. Our team of experts helps NBFCs underst...
A single platform to Sell or Buy NBFC Companies or Bombay Stock Exchange Listed companies and other Businesses for Sale
(nbfc), microfinance institutions (mfi) and local area banks (lab) can apply to become small finance banks. they can be promoted either by individuals, corporate, trusts or societies. they are established as public limited companies in the private sector under the companies act, 2013. they ...
The new system will start with reporting by scheduled commercial banks and will be slowly extended to urban cooperative banks (UCBs) and non-banking financial companies (NBFCs). Topic: Appointments 4. SBI Card has appointed Abhijit Chakravorty as MD and CEO for 2 years. ...
“From all registered or licensed lenders with the RBI, the banks and the NBFCs, we have collected the list of apps and have given it to the government, the Ministry of Information and Technology, which has uploaded it on their website. […] Now, it’s a long list. The responsibility...
“While these have fostered competition and collaboration, they also have implications for consumer trust and regulatory oversight. Such structural changes also create opportunities as well as challenges. Financial institutions like banks, NBFCs and others need to carefully assess the impact of these...
2. NBFCs have been growing in size and have substantial interconnectedness with other segments of the financial system. Accordingly, it has now been decided to put in place a PCA Framework for NBFCs to further strengthen the supervisory tools applicable to NBFCs. Th...
3. Licences of five NBFCs have been cancelled by RBI due to irregular lending practices. UMB Securities, Anashri Finvest, Chadha Finance, Alexcy Tracon and Jhuria Financial Services are the NBFCs whose CoRs were cancelled. The licences ofNBFCshave been cancelled for violating RBI guidelines on...