Reserve Bank asks NBFCs to implement core financial services solution by Sep 2025
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In a circular, Reserve Bank of India (RBI) said it has been decided that NBFCs - Middle Layer and NBFCs - Upper Layer with 10 and more 'fixed point service delivery units' as on October 1, 2022 shall be mandatorily required to implement CFSS.
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The Tamil Nadu-based bank's Managing Director and CEO S Krishnan who recently assumed office said retail, agriculture and micro, small and medium enterprises (RAM) segments would be the focus areas as this vertical comprises 88 per cent of the bank's exposure. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/Iak2dgJ via IFTTT
Paytm Payments Bank, a niche bank that cannot lend on its own, had more than 64 million savings accounts and over 52 billion Indian rupees ($688.5 million) deposits, including savings accounts, current accounts and fixed deposits with partner banks at the end of March this year. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3pJr1JN via IFTTT
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