Master Directions News Today

Is your data in Kotak Mahindra Bank Safe? Legal experts say that Kotak Mahindra Bank may have violated Digital Personal Data Protection Act, 2023.

The article discusses the relation between the Digital Personal Data Protection Act 2023 and the RBI’s 2023 Master Direction on Outsourcing of Information Technology Services.

Recently, the Gujarat High Court bench of Justice Sangeeta K. Vishen observed that the Lender Banks must provide a reasonable opportunity to the Borrower by furnishing a copy of Audit Reports and...

The Indian FinTech ecosystem, the third largest in the world, is expected to reach a market size of US$ 150 billion by 2025. Digital lending has become a US$ 270 billion market in 2022. However, recent years have seen an increase in financial fraud and irregularities, leading to a lack of trust in the sector. The RBI has implemented regulations and guidelines to address these concerns, including registration requirements for FinTech companies and enhanced data privacy measures.

REL said in a regulatory filing that in March 2023, RFL, achieved a key milestone when it completed a One-Time Settlement (OTS) with 16 lenders through organic collections. The company paid more than Rs 9,000 crore to the lenders

Court-directed move signifies a positive turn for Religare Finvests future.

State Bank of India (SBI), a key lender to Religare Finvest Limited (RFL), has expunged RFLs record, previously marked as a fraud, from the Central Fraud Registry database. This action follows a court order dated December 18, 2023, issued by the Delhi High Court instructing SBI to revoke the fraud

An Impact Investors Foundation report stated that between 2019 and 2021, financial institutions deployed over $2.2bn worth of impact finance in the country.

Incidents like the wrongful crediting of hundreds of crores of rupees into accounts of UCO Bank account holders, a part of which is looking difficult to recover now, are condemned to repeat unless public sector banks do a better job of managing technological challenges

AAccess to JusticeFundamental right of Access to Justice - Abolition of OAT does not violate right of access to justice as cases will be heard by High Court - The fundamental right of access to...