Regulate Name Settlement For Free

The new rules, effective December 31, 2023, apply to both new and existing borrowers. They enhance transparency by necessitating the disclosure of principal and interest recovered to date, remaining EMIs, EMI amounts, and the annualized rate of interest/Annual Percentage Rate (APR) for the entire loan duration.

On April 28, 2023, the Reserve Bank of India (?RBI?) introduced certain amendments to the Master Direction ? Know Your Customer (KYC) Direction, 2016 (?KYC Directions?) with an objective to align the KYC Directions with the recent changes carried out to the Prevention of Money Laundering (Maintenance of Records) Rules, ...

The Competition Commission of India (CCI) recently rolled out draft Settlement & Commitment regulations. The aim is to expedite the resolution of anti-competitive cases, promote compliance, and contribute to a more competitive and fair business environment in India.

Ing to the RBI, the primary regulatory objective of the circular ? issued on June 8, 2023 ? is to enable multiple avenues to lenders to recover the money in default without much delay. ?Apart from the time value loss, inordinate delays result in asset value deterioration which hampers ultimate recoveries.

New development. The RBI, vide a statement dated 8 June 2023 has now permitted REs to enter into agreements with LSPs or other REs involving DLGs, subject to compliance with the Guidelines on Default Loss Guarantee (DLG) in digital lending (the Guidelines). The Guidelines are applicable from 8 June 2023.

As per the RBI, compromise settlement refers to any negotiated arrangement with the borrower to fully settle the claims of the RE against the borrower in cash; it may entail some sacrifice of the amount due from the borrower on the part of the REs with corresponding waiver of claims of the RE against the borrower to ...

A) A compromise settlement, with the borrowers with or without involving remission or composition of dues can be negotiated, provided it is ensured that such compromise results not only in early recovery of dues but also saves cost to the Bank in terms of legal expenses and other costs.