The Finance Ministry has proposed measures to combat cyber fraud following the Bank of Baroda World app scam. The RBI issued a new circular on MSME and retail loan rules, prohibiting certain fees. Starting October 1, lenders face a significant mandate from the RBI. The Finance Ministry advocates for enhanced KYC and due diligence for merchants and BCs. Guidelines on reporting online scams in India have been highlighted. RBI mandates payment aggregators to conduct due diligence on merchants. RBI is seeking feedback on draft rules to regulate payment aggregators.
#RBI directs #PaymentAggregators to undertake due diligence of #merchants on boarded https://t.co/sHyIIOBCey
News Alert | RBI: Payment aggregators shall undertake due diligence of merchants on boarded as per RBI's norms @RBI https://t.co/UwlCIemSN3
RBI seeks comments on draft rules to regulate payment aggregators https://t.co/z6rV1yEooB via @moneycontrolcom
How To Report #OnlineScams In India https://t.co/kCgX3yfQ4P
#Finmin pitches for enhanced #KYC, due diligence for #merchants, BCs https://t.co/Ag8swWSl0T
#RBI BIG Mandate for Lenders Starting October 1 - All You Need to Know https://t.co/hLMBPlI8Wf
New RBI Circular on MSME, Retail Loan Rules, Fee: 'Can't be charged...' - Details https://t.co/oFp1MI0Syw
Finance Ministry proposes measures to combat cyber fraud post Bank of Baroda World app scam https://t.co/4mNtUqn2up