Master Circulars News Today : Breaking News, Live Updates & Top Stories | Vimarsana

NOTICES Notice No. 20240430-67 Notice Date ...

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.

The trusts are required to distribute a minimum of 90 percent of the NDCFs at the level of the trusts and at the level of the HoldCo/SPVs. The revised framework for both InvITs and REITs will become applicable from April 1, 2024

The paper also suggested that the government may consider putting in place a system to assimilate all the statutory/regulatory mandates from respective ministries and departments around labeling-related changes and notify them twice a year on pre-announced fixed dates.

The disclosure made by a terminated ICICI Bank representative to the Central Bureau of Investigation (CBI) confirms Chanda Kochhar's violation of bank norms. As per the rep, the bank learned about the termination of loans to Videocon in 2018 when Kochhar responded to a SEBI query. Earlier, Kochhar had not informed the bank that her husband had business dealings with the company. The CBI's case is also strengthened by the RBI's Master Circulars and Directions against conflict of interest and evergreening of loans.