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Fintech boost Fintech players have a key role to play in financial inclusion   -  istock.com/Jirsak× Wallets, payment banks have been unshackled but they must ensure data security At the recently concluded Monetary Policy Committee meeting, the Reserve Bank decided to allow prepaid payment instruments to enter into a range of quasi-banking functions. This will give a further impetus to achieving financial inclusion goals. Notwithstanding the recent steps to expand access to banking services, there have been hurdles in the usage of services offered by fintech players and prepaid payment ins...

DHFL’s Retail Depositors Prepare For Steep Haircuts: BQ Exclusive Jan 17 2021, 12:35 PM January 17 2021, 12:04 PM January 17 2021, 12:35 PM Those holding fixed deposits at Dewan Housing Finance Corporation Ltd. will take a steep haircut on their savings as per the resolution plan approved by the home financier’s Committee of Creditors. On Friday, creditors approved a resolution plan by the Piramal Group, which offers DHFL’s creditors a total of Rs 32,750 crore in cash and debentures.The scheme of distribution of funds proposes to pay out Rs 1,241 crore to fixed depositor... Tho...

To print this article, all you need is to be registered or login on Mondaq.com. Article by Vijay Pal Dalmia, Advocate, Supreme Court of India and Delhi High Court, Partner & Head of Intellectual Property Laws Division, Vaish Associates Advocates, India INTRODUCTION Cross Border Transfer of cryptocurrency is a significant aspect of its being as cryptocurrencies are traded through online platforms and these platforms facilitate the exchange of cryptocurrency into another currency including a fiat currency. This raises questions under India's foreign exchange control law,...

HFCs are on firmer ground now December 21, 2020 Strong foundation: The new rules will provide a further fillip to the housing sector and stimulate demand generation in the economy   -  NAGARA GOPAL Strong foundation: The new rules will provide a further fillip to the housing sector and stimulate demand generation in the economy   -  NAGARA GOPAL× The new RBI norms will strengthen the capital base of housing finance companies and usher in best practices In yet another spell of reforms, the Reserve Bank of India has come up with a strong prescription for housing finance companies (HFCs). T...