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–Anita Baid and Richa Saraf (legal@vinodkothari.com) Introduction With the evolution of technology, the way of executing documents have also evolved. With the increasing demand for modern, convenient methods for entering into binding transactions, electronic agreements and electronic signature have gained a lot of momentum in recent years. Technological developments have not only changed the […]
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 […]
Team financial services division, (finserv@vinodkothari.com) What is a bitcoin? A bitcoin is a virtual currency first introduced in the year 2008 by an untraceable group called Satoshi Nakamoto. It’s an open source peer-to-peer crypto-graphical system (direct connections without an intermediary) where transactions happen through a public ledger called blockchain, handling users’ data anonymously. The term […]
Vinod Kothari (finserv@vinodkothari.com) The FinTech sector is booming and is a market disruptor as well as facilitator, based on the report published by Inc42, the estimated market opportunity in India fintech is around $2.1 Tn+ and currently there are 23 FinTech “unicorns” with combined valuation of $74 Bn+ and 34 FinTech “soonicorns” with combined valuation […]
“Chivalry is like a line of credit. You can get plenty of it when you do not need it.” — Nellie L. McClung Dayita Kanodia | Finserv@vinodkothari.com In the realm of financial management, having access to a flexible and readily available source of funds can be a game-changer for individuals and businesses alike. One such […]
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 […]
Vinod Kothari Vinod Kothari is internationally recognized as an author, trainer and consultant on specialized financial subjects, viz., housing finance, securitisation, credit derivatives, accounting for financial instruments, structured finance, banking regulations etc. As such, he lectures all over the world. The locations where he has lectured on these subjects include New York, Washington, London, Milan, […]
Analysis of the Draft Framework for Self Regulatory Organization(s) in the Fintech Sector – Archisman Bhattacharjee, finserv@vinodkothari.com Introduction On January 15, 2023, the Reserve Bank of India (RBI) published a draft Framework titled “Draft Framework for Self-Regulatory Organisation(s) in the Fintech Sector” (‘Framework’) with the objective of eliciting feedback and gauging stakeholder expectations. In this […]
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 […]
– 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 […]