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[6] [7] It has a customer base of 88.11 million [8] and holds assets under management worth ₹ 354,192 crore (US$41 billion), as of June 2024. [9] As per the 2023 list of NBFCs issued by the Reserve Bank of India, Bajaj Finance Limited holds the second position in the upper layer based on scale-based regulation guidelines. [10] [11]
At a conceptual level, it is proposed that RBI will perform three functions: monetary policy, regulation and supervision of banking in enforcing the proposed consumer protection law and the proposed micro-prudential law, and regulation and supervision of payment systems in enforcing these two laws.
Small Industries Development Bank of India (SIDBI) is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India. It is under the jurisdiction of Ministry of Finance, Government of India headquartered at Lucknow and having its offices all over the country.
Payment and settlement systems are used for financial transactions in India. Covered by the Payment and Settlement Systems Act of 2007 (PSS Act), legislated in December 2007, they are regulated by the Reserve Bank of India (RBI) and the Board for Regulation and Supervision of Payment and Settlement Systems.
Compliance with bank regulations is verified by personnel known as bank examiners. The objectives of bank regulation, and the emphasis, vary between jurisdictions. The most common objectives are: prudential—to reduce the level of risk to which bank creditors are exposed (i.e. to protect depositors) [7]
Reserve Bank of India (RBI) (including the Banks Board Bureau) National Payments Corporation of India (NPCI) Deposit Insurance and Credit Guarantee Corporation (DICGC) Securities and Exchange Board of India (SEBI) Banking Codes and Standards Board of India (BCSBI); Forward Markets Commission (FMC) Insolvency and Bankruptcy Board of India (IBBI)
Headquartered in Mumbai, the mandate of the IFTAS is to provide IT-related services to the RBI, banks and other financial institutions. [ 16 ] Services like Indian Financial Network (INFINET), [ 17 ] Structured Financial Messaging System (SFMS) [ 18 ] and the Indian Banking Community Cloud (IBCC) [ 19 ] have been handed over to IFTAS with ...
The National Bank for Agriculture and Rural Development (NABARD) is an All India Development Financial Institution (DFI) [4] and an apex Supervisory Body for overall supervision of Regional Rural Banks, State Cooperative Banks and District Central Cooperative Banks in India. [5]