Suitability becomes a Customer Right

The RBI has published on its website the final Charter of Customer Rights for banking customers.

Payments Banks become a reality

The RBI has published final Guidelines for Licensing of Payments Banks in India after reviewing feedback and comments obtained by it on the draft guidelines that were published in…

Revisiting the core ideas of CCFS

The Report of the Committee on Comprehensive Financial Services for Small Businesses and Low Income Households (CCFS) was submitted to the Reserve Bank of India (RBI) in January this…

Niche banking in India: Draft Guidelines for Payments Banks

The Committee on Comprehensive Financial Services for Small Businesses and Low Income Households recommended developing a vertically differentiated banking structure, in which banks specialise in one or more of…

NBFCs can now sign up to become Business Correspondents

Removing an earlier restriction that the Reserve Bank had placed on NBFCs, the RBI today has restored the permission for non-deposit taking NBFCs (NBFC-ND) to become Business Correspondents (BCs)…

Towards a Suitability-based Customer Protection Regime in India

The current regulatory approach to customer protection in India can be divided into two complementary ex-ante approaches- mandated information disclosure, and financial literacy and education.

A greater role for Development Finance Institutions

The Committee on Comprehensive Financial Services for Small Businesses and Low Income Households (CCFS) seeks the creation of an ecosystem of different types of institutions, each with their choice…