Financial operations of FB, Google, Amazon regulated, RBI, Sebi tell HC
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Financial operations of FB, Google, Amazon regulated, RBI, Sebi tell HC
PTI / Updated: Jan 29, 2021, 19:05 IST
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NEW DELHI: The RBI has informed the Delhi high court that operations of tech fin firms such as Facebook, Google and Amazon in India s financial sector space are being regulated under the relevant laws and they have been permitted to function only after necessary compliances.
A similar stand has been taken by markets regulator Sebi which said that there are already adequate provisions in place providing mandatory registration for any entity entering into the securities market.
Financial operations of Facebook, Google, Amazon regulated: RBI, Sebi tell Delhi High Court
RBI said the decision to allow an entity to operate on UPI is solely taken by the NPCI, which has framed the system rules, guidelines, and procedures governing the UPI payment system.
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Reserve Bank of India has informed the Delhi High Court that operations of tech-fin firms, including
Facebook, Google, and Amazon in India s financial sector space are being regulated under the relevant laws, and they have been permitted to function only after necessary compliances.
A similar stand has been taken by markets regulator
Securities and Exchange Board of India, which said that there are already adequate provisions in place, providing mandatory registration for any entity entering into the securities market.
Cryptocurrency industry hopeful as RBI mulls over digital currency
By IANS |
Published on
Wed, Jan 27 2021 19:21 IST |
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Bitcoin.. Image Source: IANS News
New Delhi, Jan 27 : With the Reserve Bank of India (RBI) now saying that it is exploring the need for a digital version of fiat currency, cryptocurrency stakeholders have called to move a step in the right direction towards strengthening the fintech ecosystem in the country.
The RBI made the remarks in a booklet titled Payment and Settlement Systems in India released this week. Private digital currencies (PDCs) / virtual currencies (VCs) / crypto currencies (CCs) have gained popularity in recent years. In India, the regulators and governments have been sceptical about these currencies and are apprehensive about the associated risks, said the booklet.
Reserve Bank of India (RBI) has set up a Working Group to study all aspects of digital lending activities in the regulated financial sector as well as by unregu
RBI sets up panel to suggest regulations on digital lending
The 6-member working group has been formed to study digital lending in regulated as well as unregulated financial sector to devise a regulatory framework for the same
BusinessToday.In | January 14, 2021 | Updated 20:08 IST
Reserve Bank of India has formed a working group to suggest ways to efficiently regulate the booming digital lending space. The 6-member working group has been formed to study digital lending in regulated as well as unregulated financial sector to devise a regulatory framework for the same. Digital lending has the potential to make access to financial products and services more fair, efficient and inclusive. While penetration of digital methods in the financial sector is a welcome development, the benefits and certain downside risks are often interwoven in such endeavours. A balanced approach needs to be followed so that the regulatory framework supports innovation while ensuring data security, priv