ARTICLE · 17 JANUARY 2025

AKP Banking & Finance Digest- January 13, 2025

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The Reserve Bank of India ("RBI") has released a new master direction consolidating guidelines for banks and financial institutions on reporting customer...

GlobalFinance and Banking

1. Regulatory Updates

1.1. India

1.1.1 RBI issues master direction on Credit Information Reporting

The Reserve Bank of India ("RBI") has released a new master direction consolidating guidelines for banks and financial institutions on reporting customer credit information. Credit Information Companies (CICs) shall now alert customers via Short Message Service (SMS) or email whenever their Credit Information Report (CIR) is accessed by specified users. Additionally, banks and Non-Banking Financial Companies ("NBFCs") shall provide reasons for rejecting customer requests for data correction to ensure transparency.RBI

1.1.2. RBI issues master directions on non-resident investment in debt instruments

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