25 YEARS IN INDIA: LEADING WITH IMPACT
Key Regulatory Measures (II/III)
Recent Trends
Jun 21
Consultative document on regulation
of Microfinance introduced
Sep 21
Launch of Account
Aggregator Framework
$
Sep 21
NBFCs allowed to apply for Aadhaar
e-KYC license
5 Oct 21 Scale Based Regulation (SBR)
Oct 21 RBI caps IPO financing
ā
Nov 21
Appointment of Internal Ombudsman
by NBFCs
RBI discussion paper on borrower based regulatory regime and a movement away from
lender based regulatory regime for MFIs introduced in the public domain for
consultation with stakeholders
Introduction of a financial data sharing system to ease the accessibility of financial data,
allowing individual consent and went live with 8 banks and multiple fintech firms
NBFCs and Payment System Operators allowed to seek Aadhaar Authentication License-
KYC User Agency (KUA) or sub-KUA license to perform authentication
An integrated regulatory framework for NBFCs providing a holistic view of the SBR
structure, set of fresh regulations and timelines
Under the SBR framework, there will be a ceiling of 1 crore per borrower for financing
subscription to an initial public offering (IPO)
Deposit-taking NBFCs with ten or more branches and non-deposit taking NBFCs with
assets size of 5,000 crore must appoint an Internal Ombudsman (IO).
Dec 21 PCA Framework for NBFCs
Established a regulatory course of action in an event of a breach of certain parameters,
thus acting as an early warning signal.
Source: Reserve Bank of India
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