Increase the risk weights in respect of consumer credit exposure of commercial banks (outstanding as well as new), including personal loans, but excluding housing loans, education loans, vehicle loans and loans secured by gold and gold jewellery, by 25 percentage points to 125%. The consumer credit exposure of NBFCs (outstanding as well as new) categorised […]
RBI hereby issues to every NBFCs, in supersession of the Non-Banking Financial Company–Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016 and Non-Banking Financial Company–Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016, the Master Direction – Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Directions, 2023. Name[…..]
It has been decided, by the RBI, to replace ‘Pension Fund’ with ‘Central Recordkeeping Agency’ as the financial information provider in the Account Aggregator (AA) ecosystem. Name of the Circular/Update : Review of Financial Information Provider (FIP) under Account Aggregator Framework Date of Issue : October 26, 2023 Circular / Update number :[…..]
The regulated entities of the Bank joining the Account Aggregator (AA) ecosystem as Financial Information User (FI-U) shall necessarily join as Financial Information Provider (FIP) also, if they hold the specified financial information and fall under the definition of FIP. Name of the Circular/Update : Joining the Account Aggregator Ecosystem as Financial Information User Date[…..]
Reserve Bank of India introduced PCA Framework for NBFCs on December 14, 2021. The Framework has since been reviewed and it has been decided to extend the same to Government NBFCs (except those in Base Layer) with effect from October 1, 2024, based on the audited financials of the NBFC as on March 31, 2024,[…..]
These Directions shall be applicable to the All India Financial Institutions (AIFIs) regulated by the Reserve Bank, viz. the Export-Import Bank of India (EXIM Bank), the National Bank for Agriculture and Rural Development (NABARD), the National Bank for Financing Infrastructure and Development (NaBFID), the National Housing Bank (NHB) and the Small Industries Development Bank of[…..]
In terms of extant instructions of Reserve Bank of India, regulated entities (REs) have the freedom to offer all categories of advances either on fixed or on floating interest rates basis. In the wake of rising interest rates, several consumer grievances related to elongation of loan tenor and/or increase in EMI amount, without proper communication[…..]