Green or Gimmick? IFSCA proposed principles for greenwashing
Palak Jaiswani, Manager & Simrat Singh, Executive | corplaw@vinodkothari.com Refer consultation paper here. Our resources on the topic:
Author Archive for: Staff
Entries by Staff
Resources on KYC
Know Your Customer (KYC) is the gateway to trust in today’s fast-paced financial world. It’s not just a regulatory requirement—it’s a shield against fraud, money laundering, and illicit activities that could compromise the integrity of businesses and the broader economy. By ensuring organizations truly understand the identities of their customers, KYC fosters a safer financial […]
Co-Lending and GST: Does the relationship between co-lenders constitute a supply that may be subject to GST?
Team Finserv (finserv@vinodkothari.com) Introduction Banks and Non Banking Financial Companies (‘NBFCs’) have been receiving notices from statutory authorities stating the occurrence of evasion of goods and services tax (‘GST’) in respect of co-lending arrangements. At present, the GST laws do not address the implications of GST on co-lending transactions. In response to the investigations carried […]
Navigating Unfair Contracts: Understanding Borrower Rights and Lender Obligations under the Consumer Protection Act
– Archisman Bhattacharjee & Aditya Iyer | finserv@vinodkothari.com Introduction The trust and fairness in a lender-borrower relationship is one of the most fundamental drivers of financial regulation, and ensuring this trust and fairness in lender-borrower relationships is crucial for the growth and stability of the financial sector. NBFCs doing lending business are likely very conversant […]
MCA enabled fast track route for cross border mergers and added additional requirements in IEPF Rules
Garima Chugh, Executive & Simrat Singh, Executive | corplaw@vinodkothari.com Our resources on the topic:
Changes in P2P Norms: Collapse of the marketplace model?
Vinod Kothari | finserv@vinodkothari.com Introduction The RBI’s 16th August 2024 changes in P2P Directions may have been inspired by its supervisory observations, and comments by some observers and experts, but the likely impact of the changes may be to make this disintermediation model operationally tough to the extent of unviability. The key spirit of the […]
Aligning Regulations: Harmonizing the Frameworks for HFCs and NBFCs
Team Finserv (finserv@vinodkothari.com) Vide notification dated August 12, 2024, RBI has amended certain regulations applicable to Housing Finance Companies, and NBFCs to enure harmonization between HFC Master Directions and SBR Master Directions. These amendments shall be effective from January 01, 2025. The following table contains a snapshot of the changes from all HFCs and NBFCs: […]
RBI Governor red-flags personal loans, top-up lending, once again
Vinod Kothari (finserv@vinodkothari.com) The RBI’s bi-monthly Monetary Policy review was accompanied by the Governor’s customary statement, dated 8th August, 2024, highlighting 4 areas of potential risks to financial stability. Two of these relate to uncollateralised or personal lending. The 4 red flags raised by the Governor are as follows. First, with alternative financial instruments being […]