RBI issued a Master Directions on Fraud Risk Management in Non-Banking Financial Companies (NBFCs) (including Housing Finance Companies)
Jul 16, 2024 | by TeamLease RegTech Legal Research Team
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The Reserve Bank of India (RBI) on July 15, 2024, issued a Master Directions on Fraud Risk Management in Non-Banking Financial Companies (NBFCs) (including Housing Finance Companies).
These Directions shall supersede the earlier Directions on the subject, namely, the Master Direction – Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016 dated September 29, 2016.
Please find enclosed as Annex ‘Reserve Bank of India (Fraud Risk Management in NBFCs) Directions, 2024’.
[Notification No. RBI/DOS/2024-25/120 DOS.CO.FMG.SEC.No.7/23.04.001/2024-25]
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