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NBFCs: RBI updates guidance note on operational risk management, extends it to NBFCs

The Reserve Bank of India (RBI) updated its "guidance note" on operational risk management for the financial sector, extending it to include NBFCs and housing finance companies. The note highlights that operational disruptions can threaten the viability of regulated entities, impacting customers and financial stability. It covers various causes of disruptions, including man-made, IT threats, frauds, and natural causes. The updated note aligns with Basel Committee on Banking Supervision (BCBS) Principles and aims to enhance operational resilience and risk management in the financial system ....

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Business News: Omicron seen slowing India's policy normalisation path

Omicron seen slowing India’s policy normalisation path : Rashtra News The Reserve Bank of India will likely keep its key lending rate at a record low for a ninth straight meeting, with a new virus variant seen as the latest threat to the central bank’s efforts to return policy to normal. All 28 economists surveyed ....

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RBI issues revised guidance note to extend operational risk norms to NBFCs, co-op banks

The RBI said that an operational disruption can threaten the viability of a regulated entity (RE), impact its customers and other market participants, and ultimately have an impact on financial stability. ....

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Worldline ePayments India Gets RBI Approval To Operate As Online Payment Aggregator

The company received in-principle authorisation from the RBI to act as a PA in 2022. "We’ve been in the Indian market for more than two decades and have built a leadership position. We work with merchants from various segments such as eCommerce, BFSI, retail, utilities, education, travel, and hospitality for digital payments," Ramesh Narasimhan, CEO, India, Worldline, said in a statement. Worldline ePayments India Gets RBI Approval To Operate As Online Payment Aggregator. ....

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Paytm Payments Bank allowed servers to share data with China-based firms, RBI inspections found

Paytm Payments Bank allowed servers to share data with China-based firms, RBI inspections found : Rashtra News #Paytm #Payments #Bank #allowed #servers #share #data #Chinabased #firms #RBI #inspections Paytm Payments Bank, which processes transactions for India’s digital payments giant Paytm, was barred from taking on new customers because it violated rules by allowing data to ....

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