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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The guidelines are part of the central bank’s crackdown on loan apps
Editor's note: The Reserve Bank of India on Wednesday released guidelines surrounding digital lending in India as part of its efforts to regulate the industry. These are based on recommendations made by a six-member working group on digital lending, which was set up in January last year by the central bank and submitted its report in November. The RBI has classified digital lenders into three groups: RBI-approved lending institutionsEntities authorized to lend as per other statutory provisions but not regulated by the RBIEntities lending outside the purview of statutory or regulatory provisions While the guidelines have addressed each of these categories, they focus mainly on entities regulated by the RBI and the service providers they employ, also called lending service providers. For companies falling in the second and third categories, the RBI has recommended that relevant authorities form their own regulations to “curb illegitimate lending operations”. The most significant among the new guidelines is that loan disbursals and repayments have to be carried out only between the bank accounts of the borrower and the regulated entity without any pass-through or pool account …
The guidelines are part of the central bank’s crackdown on loan apps
Editor's note: The Reserve Bank of India on Wednesday released guidelines surrounding digital lending in India as part of its efforts to regulate the industry. These are based on recommendations made by a six-member working group on digital lending, which was set up in January last year by the central bank and submitted its report in November. The RBI has classified digital lenders into three groups: RBI-approved lending institutionsEntities authorized to lend as per other statutory provisions but not regulated by the RBIEntities lending outside the purview of statutory or regulatory provisions While the guidelines have addressed each of these categories, they focus mainly on entities regulated by the RBI and the service providers they employ, also called lending service providers. For companies falling in the second and third categories, the RBI has recommended that relevant authorities form their own regulations to “curb illegitimate lending operations”. The most significant among the new guidelines is that loan disbursals and repayments have to be carried out only between the bank accounts of the borrower and the regulated entity without any pass-through or pool account …
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
