RBI directs CICs and CIs to implement credit information reporting mechanism to the cancellation of the licence/CoR of banks/Non-Banking Finance Companies (NBFCs)
These CIs shall continue to report credit information of the borrowers on-boarded and reported to CICs prior to cancellation of their licence or CoR to all the four CICs till the loan lifecycle is completed or the credit institution is wound up, whichever is earlier.
PFRDA Announces New Balanced Life Cycle Fund (BLC)
The Balanced Life Cycle Fund (BLC). This fund is designed to offer NPS subscribers flexibility and higher growth potential by focusing on equity investments during their prime working years.
RBI draft circular on ‘Forms of Business and Prudential Regulation for Investments’.
The Reserve Bank has reviewed these regulations with an objective to ringfence the banks’ core business from other risk bearing non-core businesses as well as to provide operational freedom to banks for making investments in financial services/non-financial services companies and Alternative Investment Funds.
National Bank for Financing Infrastructure and Development notified as public financial institution
National Bank for Financing Infrastructure and Development notified as public financial institution.
Foreign Exchange (Compounding Proceedings) Rules, 2024
As part of a broader initiative to streamline and rationalize existing rules and regulations to further facilitate ease of doing business, the compounding proceeding rules were comprehensively reviewed in consultation with the Reserve Bank of India.
Rajasthan Enhances Procurement Framework: New Amendments Introduced
The amendments to the Rajasthan Transparency in Public Procurement Rules signify a progressive step towards enhancing the procurement framework in the state
Government of Puducherry Announces Revised Public Holiday for Milad-un-Nabi 2024
This update pertains to the observance of Milad-un-Nabi, the birthday of Prophet Mohammed, across the Union Territory of Puducherry.
610th Meeting of Central Board of the Reserve Bank of India
The Board reviewed various areas of operations of the Reserve Bank of India including the functioning of Local Boards and activities of select Central Office Departments. The procedural and regulatory changes in future shall reflect the discussions in the meeting.
Common and Uncommon Questions Faced by NBFCs in SDD Maintenance
Structured Digital Databases (SDDs) have become integral to the operations of financial institutions, including Non-Banking Financial Companies (NBFCs). These institutions face unique challenges and requirements when it comes to maintaining their SDDs, driven by the distinct nature of their activities and regulatory environments.
New Aim to Improve Transparency in Rural Development
Government of Uttar Pradesh issued a critical notification addressing tax evasion concerns related to the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) and other centrally and state-funded schemes operating within Gram Panchayats.
