RBI guidelines

Banking

Strict Norms For Digital Lending Space Issued By RBI

Opportunity India Desk Aug 11 2022 - 3 min read

The Reserve Bank of India (RBI) in its new guidelines said that all digital loans must be disbursed and repaid through bank accounts of regulated entities only, without pass-through of loan service providers (LSPs) or other third parties. The guidelines, aimed at curbing rising malpractices in the digital lending ecosystem, follow the recommendations of a ...

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Banking

RBI Slaps Hefty Penalty On Kotak Bank, IndusInd Bank And Others

Priyanka Tanwer Jul 05 2022 - 3 min read

The Reserve Bank of India (RBI) has imposed monetary penalties on Kotak Mahindra Bank and IndusInd Bank for failing to comply with various regulations. The Central bank has fined INR 1.5 crore on Kotak Mahindra Bank Limited for non-compliance with directions on ‘Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions’, and ...

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New India

RBI Proposes Norms For Outsourcing Of IT Services

Priyanka Tanwer Jun 24 2022 - 3 min read

The Reserve Bank of India has proposed norms for the outsourcing of IT services to ring-fence banks and other regulated entities from financial, operational and reputational risks. According to the RBI Draft Master Direction on Outsourcing of Information Technology (IT) Services, Regulated entities will not require prior approval from the central bank for the outsourcing ...

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New India

Offer Card-less Cash Withdrawal Facility Across All ATMs: RBI To Banks

Priyanka Tanwer May 20 2022 - 2 min read

The Reserve Bank of India (RBI) has asked banks to provide their customers with interoperable card-less cash (ICCW) withdrawal at all banks and ATMs using the Unified Payments Interface (UPI) facility. “All banks, ATM networks and White Label ATM Operators (WLAOs) may provide the option of ICCW at their ATMs. NPCI has been advised to ...

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