Finance Minister Nirmala Sitharaman has urged financial sector regulators to implement additional measures to prevent unauthorised online lending. Read more to know the details.
India Business News: Finance minister Nirmala Sitharaman met financial sector regulators to discuss uniform KYC norms, simplification and digitalization of the KYC process
For RBI-regulated entities, though - and, in this instance, for banks subject to orders under Section 35A of the BR Act - legal options are limited to the reconsideration framework set out in the Act. The affected party goes back to RBI seeking a review of its decision. But this is neither bound by set processes nor timelines. The only alternate remedy is filing a writ petition before a high court or Supreme Court.
Budget 2024: Though the Budget will be a vote on account, economists and experts feel the government will maintain its focus on fiscal consolidation, business and taxation law simplification, infrastructure development, support for MSMEs, and financial inclusion.
Currently, 16 working groups, under the aegis of its standing advisory committees, are reviewing compliance requirements under various Sebi regulations applicable for various regulated entities, such as equity and debt listed companies, mutual funds, stock brokers, and alternative investment funds among others.