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RBI’s increased scrutiny of banks servicing start-ups and tech-based companies has largely impacted the business continuity of partner fintechs, with their customers being left in a lurch
In its 'Master Direction on Outsourcing of Information Technology Services', RBI said that Regulated Entities (REs) have been extensively leveraging IT and IT-enabled Services (ITeS) to support their business models, products and services offered to their customers
With a view to provide REs adequate time to comply with the requirements, norms will come into effect from October 1, 2023
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. In its ‘Master Direction on Outsourcing of
India's Ministry of Electronics and Information Technology has introduced regulations primarily for online real money games, effective April 6, 2023. The Amendments propose a light touch, co regulatory framework between MeitY and registered self regulatory bodies.