The IFSCA has issued circular No F. No. IFSCA-LPRA/3/2024-Legal and Regulatory Affairs dated 2nd December 2024 on Complaint Handling and Grievance Redressal by Regulated Entities in the IFSC effective from 15th January 2025. Compliance requirements under this circular in addition to the requirements on grievance redressal contained in any other regulations specified by the Authority. […]

Insurance Regulatory and Development Authority of India vide Notification No. F. No. IRDAI/Reg/5/212/2025 issued Insurance Regulatory and Development Authority of India (Regulatory Sandbox) Regulations, 2025, effective from 3rd January, 2025. “Regulatory Sandbox” means an environment used in the financial services sector, which provides testing ground for new business models, processes and applications that may not […]

National Housing Board (NHB) regulates the housing finance system of the country, extends refinance to different primary lenders and lends directly in respect of projects undertaken by public housing agencies for housing construction and development of housing related infrastructure. To enhance the efficiency and effectiveness of the operation of Housing finance company (HFCs), National housing […]

Introduction Pursuant to the inter-government agreement between India and USA, Income tax Rules were amended on 7th August 2015, by inserting rules 114F, 114G and 114H. The requirement of reporting under the Income-tax Rules is imposed by rules 114G (7) and (8). The RBI issued its 28th August 2015 Circular BR.AML.BC.No.36/14.01.001/2015-16, drawing the attention of […]

In Line with the provisions mentioned under RBI’s notification (DOR.NBFC (HFC).CC.No.118/03.10.136/2020-21) on the regulatory framework for Housing Finance Companies, all HFCs must meet the following conditions as principal business criteria to operate as an HFC in India. The majority of Financial Assets to be in Housing Finance At least 60% of the company’s total assets […]

Background: On October 4, 2024, the Reserve Bank of India (RBI) issued an important directive to address irregularities in guarantees provided by non-residents to Indian entities. The circular highlighted cases where instruments such as Standby Letters of Credit (SBLCs) and performance guarantees were issued by non-residents without adhering to FEMA regulations. These violations raised concerns […]

In today’s digital age, ATMs have become an integral part of our financial lives. They offer convenience and accessibility for various banking transactions. However, situations may arise where customers need to retract cash from the ATM. This blog post delves into the guidelines issued by The Reserve Bank of India (RBI) to ensure smooth and […]

Core Investment Companies (CICs) are vital to the financial ecosystem, managing long-term investments such as shares and debentures in other companies. To ensure their efficient and transparent operation, and to align with regulatory standards, the Reserve Bank of India (RBI) has established a set of compliance requirements for these companies. Meaning of Core Investment Companies […]

Introduction Considering the fast turnaround time in credit underwriting processes through Digital processes, the Reserve Bank of India has made certain changes in the reporting timelines of the Credit information held between the Credit institutions (CIs) and Credit Information companies (CICs). This reform is made with a view of providing updated/latest credit information to enable lenders […]

Introduction: Asset management companies (AMCs) play a crucial role in the financial markets, handling vast amounts of capital and making investment decisions that can significantly impact the market. With such responsibilities, AMCs will now have to put in place institutional mechanisms for identification and deterrence of potential market abuse, including front-running and fraudulent transactions in […]