-Chirag Agarwal & Archisman Bhattacharjee I finserv@vinodkothari.com In the realm of personal finance, the attraction of borrowing money without incurring interest charges is an enticing prospect. Zero percent interest rate loans, often advertised as promotional offers by retail financing companies, credit card companies, retailers, and financial institutions, have garnered significant attention in recent years. But […]
Archisman Bhattacharjee and Manisha Ghosh I finserv@vinodkothari.com Introduction On April 16, 2024, the Reserve Bank of India (RBI) issued Draft Directions on the Regulation of Payment Aggregators (PAs) (‘Draft PA Directions’) serving two primary purposes:
All-inclusive APR disclosure; third-party payments also included; no lender-induced changes during the validity period of KFS -Team Finserv | finserv@vinodkothari.com (Updated as on May 1, 2024) The RBI vide its Statement on Developmental and Regulatory Policies dated February 08, 2024 announced its decision to mandate Regulated Entities (REs) to provide Key Fact Statement (KFS) for […]
Team Finserv | finserv@vinodkothari.com Three rating agencies reported different numbers, but barring the exception of one, the other two hold that the volumes in FY 24 have been lower than the last peak, FY 20. FY 20 was exceptional – it was the year post ILFS, where all balance sheet lenders and investors to NBFCs […]
– Team Finserv | finserv@vinodkothari.com The Reserve Bank of India on 19th December 2023 issued a notification[1] imposing a bar on all regulated entities[2] (REs) with respect to their investments in AIFs. We had covered the same in our earlier write-up. The Circular has already created some bloodshed as several banks took a hit in […]
– Archisman Bhattacharjee & Kaushal Shah | finserv@vinodkothari.com What is the circular about? In order to harmonise the procedure of filing of regulatory returns across Supervised Entities (SEs) and create a single reference point, the RBI has issued Master Directions RBI (Filing of Supervisory Returns) Directions, 2024 (‘Returns Master Directions’) on February 27, 2024. As […]
– Chirag Agarwal, finserv@vinodkothari.com The RBI has vide its Statement on Developmental and Regulatory Policies dated February 08, 2024, announced its decision to mandate Regulated Entities (REs) to provide Key Fact Statement (KFS) for retail and Micro, Small & Medium Enterprise (MSME) loans. What is KFS? What are its contents?
Register here: https://forms.gle/cQ3RYWAwhqd3hqTs7 Our resources on KYC can be accessed here. Our resources on SBR:
Analysis of the Draft Framework for Self Regulatory Organization(s) in the Fintech Sector [1] Based on a survey of 2 SROs in the digital lending space Other articles related to the topic: Rebuilding Regulatory Infrastructure: The New SRO Norms
Framework for SROs for financial sector entities -Srinithi Sreepathy | finserv@vinodkothari.com (Updated as on 29.03.2024) On December 21, 2023, the Reserve Bank of India presented its first ‘Draft Omnibus Framework for recognising Self-Regulatory Organisations for Regulated Entities’(‘Draft Omnibus Framework’) in pursuance of its Statement on Developmental and Regulatory Policies dated October 06, 2023. RBI subsequently […]