The RBI regulators have increased the responsibility of the auditors because when reporting to the board on a certain matter, the auditor needs to be very careful while performing a cyber security audit for NBFC to take to report to the RBI and comply with the laws and regulations. Our team...
For example, if entity A is the NBFC, and entity B is the holding company whose business or assets, almost entirely, constitutes the holding of shares in the NBFC, then, one should apply the change of control at the holding company level as well. Note that even as per SAST Regulations,...
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...
As AI continues to sculpt our digital landscape, we delved into key questions surrounding India’s AI mission at MediaNama’s roundtable discussion on facilitative regulations for the AI ecosystem in India in Bangalore. We explored how to effectively allocate resources like compute capacity while ens...
(iii) conserve capital among banks and NBFCs through regulatory initiatives; (iv) strengthen supervision through the audit function; (v) facilitate external trade by improving ease of doing business for exporters; and (vi) upgrade payment system services so as to expand financial inclusion and...
4. RBI has withdrawn requirement of a sponsor for setting up an infrastructure debt fund (IDF). RBI has done so to enable IDFs to play a greater role in financing the infrastructure sector. RBI has also done so to harmonise regulations applicable to various categories of NBFCs. ...
The use of PAs by various entities is governed under separate regulations, the PA Guidelines, which also mandate the use of the escrow account. It is unclear whether the current DL guidelines intend to exclude the use of PAs given that payment aggregation is a separately regulated activity with...
Investment in NBFCs is a highly attractive undertaking for foreign investors, venture capitalists, and high-net-worth individuals (HNIs). The regulations set by RBI earn investors' confidence in an NBFC, significantly reducing the risk of loss compared to other non-regulated entities in the financ...
In 2024, State Bank of India is joining a growing list of local borrowers raising foreign currency loans, with non-banking financial companies (NBFCs) or "shadow banks" leading the way due to tighter domestic regulations. Despite a surge in activity, India’s dollar debt has fallen 27% this...
and lending to those sections of the indian economy not serviced by mainstream nationalised banks. these sections include small business units, small and marginal farmers, micro and small industries and unorganised sector entities. a brief summary of the regulations involving sfbs are highlighted below...