New RBI IT Outsourcing Directions & Key Takeaways for Fintech Agreements
On April 10th, 2023 Reserve Bank of India (“RBI”) issued fresh directions to financial institutions (also referred to as “Regulated Entities”/ “REs”), concerning outsourcing of information technology (“IT”) services and IT-enabled services (“ITeS”) to third-party service providers (whether or not belonging to the same group of companies as that of the financial institution), titled the …
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Navigating the Latest Changes to RBI KYC Guidelines: An Easy-to-Read Summary
1. What is the revised standard for the Identification of Beneficial Owners under the Master Direction (MD) – KYC?