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Indian exporters shall be paid the export proceeds in rupees from the balances in the designated Special Vostro account of the correspondent bank of the partner country, RBI stated.
In order to ensure effective management of risks in outsourcing of IT activities by banks, non-banking financial companies, and other regulated entities, the Re
Regulated entities have been extensively leveraging IT and IT-enabled services to support their business models and services offered to customers
The Reserve Bank of India (RBI) has warned of risks from cross-border outsourcing of information technology (IT) services and recommended that regulated entities closely monitor such operations.
Get latest articles and stories on Latest News at LatestLY. The Reserve Bank on Thursday proposed norms for the outsourcing of IT services to ring-fence banks and other regulated entities from financial, operational and reputational risks. Latest News | RBI Proposes Norms for Outsourcing of IT Services by Banks, NBFCs.