#UpskillwithAbhishek
Investment in NBFCs from FATF non-compliant jurisdictions
FATF non-compliant jurisdictions and new investment opportunities from such jurisdictions into NBFCs in India
New investors from or through non-compliant FATF jurisdictions, whether in existing NBFCs or in companies seeking Certification of Registration (COR), should not be allowed to directly or indirectly acquire ‘significant influence’ in the investee.
Fresh investors (directly or indirectly) from such jurisdictions in aggregate should be less than the threshold of 20 percent of the voting power (including potential voting power) of the NBFC.
#nbfcs #financialservices #rbipolicy #compliancerisk #complianceregulations #fintech
Does miss-selling of Insurance Policies slightly reduce?
Few takeaways:
1) Mis-selling complaints data of private life insurers shows that the number of mis-selling complaints has reduced from 47,503 in 2017-18 to 35,178 in 2019-20.
2) Analysis of channel-wise miss-selling complaints of private life insurers reveals that #banks and #brokers channels received more miss-selling complaints than other channels (See the chart attached).
3) And the interesting fact is that – complaints being disposed of in favor of the complainant have reduced slightly from 27 percent in 2017-18 to 25 percent in 2019-20.
Your comments?
#insurance #banks #fintechs #compliancerisk #complianceregulations #indianeconomy #rbipolicy #IRDAI #fintechstartup #financialcrime #atmanirbharbharatabhiyan #complaintsmanagement #complaints #complaintshandling #nbfcs
How are the Branches of Schedule Commercial Banks (SCBs) in India segregated between Metro to Rural areas?
The last 10 years have witnessed a CAGR of 6% in the number of branches of SCBs across the country. The increase in branches, especially in rural and semi-urban areas has been an enabler for instilling banking practices in these areas which aids digital payments.
#banking #payments #banks #financialservices #fintechstartup #fintech #rbipolicy #atmanirbharbharatabhiyan #compliancerisk #riskmanagement #fintech2020 #regtech
What is e-Money in India?,
Has Demonetization given it a much-needed push toward a cashless economy?
e-Money is prepaid value stored electronically, which represents the liability of the e-money issuer (a bank, an e-money institution, or any other entity authorized or allowed to issue e-money in the local jurisdiction) and which is denominated in a currency backed by an authority. In India, eMoney is PPIs issued as Wallets and Cards.
Post-demonetization in November 2016, appears to be a game-changer for e-Money, as people switched to electronic modes of payments resulting in a year-on-year growth of 162.5% in the year 2016.
While medium to large-value transactions continue to be made through digital banking channels and cheques, the low-value day-to-day transactions shifted to e-Money.
The trend continued in succeeding years, viz., an increase of 76%, 33%, and 15% in volume in FYs 2017-18 and 2018-19 and 2019-20 respectively, showing a perceptible shift towards e-Money.
#payments #fintech #india #rbipolicy #banking #banks #compliancerisk #complianceregulations #compliancerisk #fintechstartup #atmanirbharbharatabhiyan #financialservices
Is the share of value and number of frauds in Banks in India as reported by Public Sector Banks to RBI showing declining trends?
If so,
This is a good sign.
What do you have to say? Comments are welcome.
NBFCs in India – Number vs. Value
With RBI’s looking for scale based regulatory regime for NBFCs in India, the brief analysis shows, out of 9000+ Investment & Credit NBFCs (ICCs), only 292 are Systemically Important (with Asset Size above Rs. 5000 Mn.).
While Kolkata is amongst the top in terms of no. of ICCs (50% of the total ICCs), Mumbai beats in terms of no. of SIs around 129 out of 292.
#paretoprinciple seems to be prominently apparent in the given scenario.
