Page 9 - Master Direction News Today

Reserve Bank of India on Monday came out with detailed norms for outsourcing of IT services by banks, NBFCs and regulated financial sector entities to ensure that such arrangements do not undermine their responsibilities and obligations to customers. -- aaa

In February last year, the central bank proposed the issuance of suitable regulatory guidelines on the outsourcing of IT services to ensure effective management of attendant risks.

In February last year, the central bank proposed the issuance of suitable regulatory guidelines on the outsourcing of IT services to ensure effective management of attendant risks.

The Supreme Court on Monday ruled that the banks should give a personal hearing to borrowers before classifying their account as fraudulent, in accordance with the RBI's Master Circular of July 1, 2016, noting that the action of classifying an account as fraud not only affects the business and goodwill of the borrower, but also the right to reputation.

Investegate announcements from Muthoot Finance Ltd, Tender Offer

The Supreme Court on Monday ruled that the banks should give a personal hearing to borrowers before classifying their account as fraudulent, in accordance with the RBI's Master Circular of July 1, 2016, noting that the action of classifying an ...

India's central bank is asking banks to submit a report on the various agreements they have with fintech companies.

The Reserve Bank of India on Friday said that it has imposed a monetary penalty of Rs 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions.

RBI has slapped a penalty of INR 3.07 Cr on Amazon’s payment arm, Amazon Pay, for flouting PPI norms and KYC directions

The Reserve Bank of India on Friday said that it has imposed a monetary penalty of Rs 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions.In a statement on Friday, the RBI said: "The Reserve Bank of ...