Fintechs Encouraged to Create Self-Regulatory Bodies for Ensuring Statutory Compliance RBI’s Call for Self-Regulation in Fintech Sector On the 15th of January, 2024, the Reserve Bank of India (RBI) issued a significant announcement where it urged fintech companies to establish a self-regulatory organization (SRO). This initiative is part of RBI’s drafted framework promoting self-regulation within the rapidly evolving fintech sector. RBI firmly believes that fintech firms should take the initiative in creating an SRO responsible […]

RBI Proposes Harmonized Regulations for Housing Finance Companies and NBFCs Draft Framework for Regulatory Harmonization On January 15, the Reserve Bank of India (RBI) released a draft framework aimed at harmonizing the regulations for Housing Finance Companies (HFCs) and Non-Banking Finance Companies (NBFCs). This initiative covers multiple areas, including deposit directions. The banking regulator has invited NBFCs, HFCs, and other stakeholders to provide comments by February 29, 2024. RBI’s draft circular also indicates that certain […]

SEBI Releases Draft Framework for AIFs, VCFs To Tackle Post-Tenure Expiry Unliquidated Investments An Introduction to SEBI’s Newly Proposed Framework On 15 January 2024, the Securities and Exchange Board of India (SEBI) rolled out a draft framework designed to introduce more flexibility for Alternative Investment Funds (AIFs) and Venture Capital Funds (VCFs). This proposal is primarily intended to address issues surrounding unliquidated investments following the expiration of these funds’ tenures. Concurrently, the public is being […]

Comprehensive Guide on Claiming Unclaimed Deposits and Investments Unclaimed investments and deposits are a common financial issue in India as of March 2023. About ₹42,272 crore sits as unclaimed deposits in banks, and approximately ₹2,637.94 crore as unclaimed dividends and units are stowed away with mutual fund houses. This article takes a detailed approach to understanding this concern and outlines a step-by-step guide on how to claim these unclaimed deposits and investments. Exploring the Causes […]

Union Budget 2024: Indian Co-working Sector Awaits a Decrease in GST, Infrastructure Boost, and Tax Incentives The co-working sector in India eagerly anticipates beneficial measures in the forthcoming interim Union Budget, including a drop in GST rates specifically for small-scale patrons, and clarified pointers on GST implementation concerning electricity charges. These facilitative strategies would serve to stimulate further growth in the industry. Growth Prospects in the Co-working Industry Illustrating the growth-driven trajectory, the coworking sector […]