Entries by Staff Publication

Sharing of Credit Information to Fintech Companies: Implications of RBI Bar

-Financial Services Division | Vinod Kothari Consultants Pvt. Ltd. (finserv@vinodkothari.com) The RBI recently wrote a letter, dated 16th September, 2019, to banks and NBFCs, censuring them over what seems to have been a prevailing practice – sharing of credit information sourced by NBFCs from Credit Information Companies (CICs), to fintech companies. The RBI reiterated that […]

Partial Credit Guarantee Scheme

A Business Conclave on  “Partial Credit Guarantee Scheme” was organised by Indian Securitisation Foundation jointly with Edelweiss on September 16,2019 in Mumbai. On this occasion, the presentation used by Mr. Vinod Kothari is being given here: http://vinodkothari.com/wp-content/uploads/2019/09/partial-credit-enhancement-scheme-.pdf   We have authored few articles on the topic that one might want to give a read. The links to […]

The cult of easy borrowing: New age NBFCs ride high on tempting loan offers

-Rahul Maharshi and Kanakprabha Jethani (finserv@vinodkothari.com)   “यावज्जीवेत्सुखं जीवेत् ऋणं कृत्वा घृतं पिबेत् | भस्मीभूतस्य देहस्य पुनरागमनं कुतः ||” The ancient couplet from the Charvak Darshan, in Indian mythology is popularly known as the philosophy of life. There are various interpretations of the above, in general, the meaning of the above couplet gives us a […]

Prosecution of company directors for day-to-day operational issues: SC ruling provides relief

By Dibisha Mishra (dibisha@vinodkothari.com; corplaw@vinodkothari.com) Introduction: While directors are the brain and neural control center of companies, but it is evident that the day to day affairs of  companies are not run by the board of directors , or even the executive directors of companies. Under circumstances can directors be prosecuted, merely because they hold […]

Introduction of Digital KYC

Anita Baid (anita@vinodkothari.com) The guidelines relating to KYC has been in headlines for quite some time now. Pursuant to the several amendments in the regulations, the KYC process of using Aadhaar through offline modes was resumed for fintech companies. The amendments in the KYC Master Directions[1] allowed verification of customers by offline modes and permitted […]