Posts In: Banking

RBI updates Master Direction on Issuance and Operation of Prepaid Payment Instruments; includes credit card as a mode for prepaid payment instruments and prepaid gift instruments effective since 16th January, 2020

January 21, 2020 Banking, CORP, states 0

The Reserve Bank of India (“RBI”), through a notification dated 16th January, 2020, has updated the Master Direction on Issuance and Operation of Prepaid Payment Instruments...

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RBI issues directions to Authorised Card Payment Networks / Non-Bank PPI issuers to provide certain facilities for transactions in ATMs, PoS and other devices 24×7; effective from 16th March, 2020

January 20, 2020 Banking, CORP, states 0

The Reserve Bank of India, through a notification dated 15th January, 2020, has issued directions to Authorised Card Payment Networks / Non-Bank PPI issuers to improve...

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RBI revises framework for imposing monetary penalty on authorised payment system operators / banks under the Payment and Settlement Systems Act, 2007

January 17, 2020 Banking, Financial Services 0

In a Circular dated 10th January, 2020, the Reserve Bank of India (“RBI”) has revised the framework for imposing monetary penalty on payment system operators/banks under...

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RBI extends relaxation on the Minimum Holding Period for originating NBFCs till 30th June, 2020; applicable for loans having maturity of more than 5 years

January 6, 2020 Banking, OPS, states 0

The Reserve Bank of India, through a notification dated 31st December, 2019, has decided to extend the relaxation provided to Non-Banking Financial Companies (“NBFCs”) to securitise/assign...

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RBI extends relaxation on the Minimum Holding Period for originating NBFCs till 30th June, 2020; applicable for loans having maturity of more than 5 years

January 6, 2020 Banking, OPS, states 0

The Reserve Bank of India, through a notification dated 31st December, 2019, has decided to extend the relaxation provided to Non-Banking Financial Companies (“NBFCs”) to securitise/assign...

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RBI addresses the risk management issues in NBFCs; mandates NBFCs with asset size of more than Rs. 50 billion to appoint a Chief Risk Officer

May 20, 2019 Banking, CORP, states 0

The Reserve Bank of India (“RBI”) has, in a notification dated May 16, 2019, directed Non-Banking Financial Institutions (“NBFCs”) with asset size of more than Rs.50...

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SEBI makes it mandatory for Mutual Funds to report Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by them to AMFI; effective June 2019

May 15, 2019 Banking, CORP, states 0

The Securities and Exchange Board of India (“SEBI”) has in a circular dated 9th May, 2019 issued procedure of Reporting for Artificial Intelligence (“AI”) and Machine...

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SEBI makes it mandatory for Mutual Funds to report Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by then to AMFI; effective June 2019

May 13, 2019 Banking, CORP, states 0

The Securities and Exchange Board of India (“SEBI”) has in a circular dated 9th May, 2019 issued procedure of Reporting for Artificial Intelligence (“AI”) and Machine...

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Asian Infrastructure Investment Bank, New Development Bank and European Bank for Reconstruction and Development not to be considered as Foreign Source under the Foreign Contribution (Regulation) Act, 2010, says Ministry of Home Affairs

March 12, 2019 Banking, OPS, states 0

In a Notification dated 1st February 2019 the Ministry of Home Affairs has informed that the following international organisations shall not be treated as ‘foreign source’...

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RBI harmonises different categories of NBFCs into one category NBFC Investment and Credit Company; effective 22nd February, 2019

February 26, 2019 Banking, OPS, states 0

The Reserve Bank of India (“RBI”) has issued a circular regarding Harmonisation of different categories of NBFCs on 22nd February, 2019. To provide NBFCs with greater...

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