– Vinod Kothari & Abhirup Ghosh | finserv@vinodkothari.com The recent notification[1] by the RBI permitting banks to provide pre-sanctioned credit facilities to be used by Unified Payment Interface (UPI) is a game changer. The full dimensions of this new mode of extending credit will possibly take some time to develop or demonstrate, but clearly, as […]
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Abhirup Ghosh, Qasim Saif & Aanchal Kaur Nagpal | finserv@vinodkothari.com Background Levying of penal charges or late payment charges are claimed as ‘just’, owing to the underlying breach of contract under the Contract Act, 1972. A breach or a non-performance by one party entitles the other party to receive compensation for any loss or damage […]
– Team Finserv | finserv@vinodkothari.com Updated as on 4th March 2024 The Circular is applicable from April 01, 2024. Please feel free to drop your queries in the comment box below and we will try our best to reply at the earliest. RBI on August 18, 2023 came up with the circular Fair Lending practice […]
– Team Finserv | finserv@vinodkothari.com On August 18, 2023, the RBI came up with a circular on Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans (‘Circular) casting certain obligations and disclosure requirements on Regulated Entities (REs) at the time of reset of floating interest rate on EMI based Personal loans. […]
Major exercise for home lenders to reflect changes in existing home loans by year-end – Team Finserv | finserv@vinodkothari.com As indicated in the last Monetary Policy review, the RBI introduced new regulations for rate-based variations in floating rate loans, requiring lenders to mandatorily provide as many as 6 options to borrowers. The new regulations, vide […]
– Aanchal Kaur Nagpal | Senior Manager | aanchal@vinodkothari.com Our Resources on the topic are:
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Anita Baid & Subhojit Shome | finserv@vinodkothari.com Read our FAQs on Default Loss Guarantee in Digital Lending
– Dayita Kanodia, Executive | finserv@vinodkothari.com A regulatory sandbox allows live testing of innovative products/services under regulatory supervision and with regulatory relaxations. This in turn allows regulators to design evidence-based and innovation-friendly regulations. An Inter-Operable Regulatory Sandbox or IoRS as defined by both RBI and SEBI is therefore a mechanism to facilitate testing of innovative […]