The issue was whether outsourcing IT services can dilute regulatory responsibility. RBI clarified that CICs, their boards, and management remain fully accountable despite third-party arrangements.
While restructuring remains prohibited for fraud and wilful default, settlements are permitted to maximise recovery. The ruling balances recovery speed with safeguards and ongoing penal action.
The 2025 Directions introduce uniform formats, strict timelines, and mandatory CIC membership for NBFCs. The key takeaway is tighter compliance and improved accuracy in credit information across the financial system.
RBI introduces updated Directions for Payments Banks, effective immediately, to enhance regulatory oversight and safeguard public interest. The framework clarifies applicability and reinforces operational discipline.
The regulator has introduced comprehensive rules on income recognition, asset classification, and provisioning for rural co-operative banks. The move tightens NPA identification and strengthens transparency in financial statements.
The 2025 framework tightens norms on issuance, pricing, consent, and customer protection for NBFC-issued credit cards, aiming to curb mis-selling and unfair practices.
Individuals are now entitled to one free full credit report each year with calibrated credit scores. This improves transparency and empowers consumers to monitor and correct their credit profiles.
RBI has released the 2025 Miscellaneous Directions governing commercial banks, with selective provisions for gold-dealing banks, primary dealers, and private sector banks. The update clarifies applicability and strengthens regulatory oversight.
The regulator issued a consolidated KYC framework for ARCs, mandating risk-based due diligence, digital/V-CIP safeguards, and stricter governance to curb money laundering and terrorist financing.
The 2025 Directions consolidate scattered circulars into a single framework governing what activities NBFCs may undertake and under what conditions. The key takeaway is tighter governance with clear permissions, caps, and safeguards across NBFC categories.
