The Revenue and Forests Department has amended the Maharashtra Stamp Act, 1958 on February 9, 2021, vide Maharashtra Ordinance No. I of 2021[1], by promulgating the Maharashtra Stamp (Amendment and Va...
Published On: 07/07/2020
Practice Area: Banking & Finance
Authors:
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Avimukt Dar
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Namita Viswanath
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Shreya Suri
Shobhika Upadhyay
The Reserve Bank of India recently issued a notification to reiterate and ensure compliance of the Fair Practices Code and outsourcing guidelines for financial services, in letter and spirit, by banks and non–banking financial companies (NBFCs) providing loans through digital lending platforms. This notification comes in the backdrop of the emerging developments in the financial sector in India, with banks and NBFCs lending to customers such as retail individuals, small traders and other borrowers, both, directly through their own digital platforms as well as under outsourcing arrangements with third party digital lending platforms.
