The RBI has mandated that non-banking financial companies (NBFCs) – middle and upper layer -- having 10 and more 'Fixed point service delivery units'  as on October 1, 2022, will have to implement Core Financial Services Solution (CFSS), akin to the Core Banking Solution (CBS) adopted by ...

The Reserve Bank of India has announced to introduce the Internal Ombudsman mechanism for following two types of Non-Banking Financial Companies (NBFCs): Deposit-taking NBFCs (NBFCs-D) with 10 or more branches andNon-deposit taking NBFCs with assets size of ₹5,000 crore must ...