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RBI releases draft Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs

Dated:- 10-4-2015 - The Reserve Bank of India has released on its website today, the draft Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs for seeking comments/ views from interested parties and general public. The suggestions/ comments on the draft guidelines may be emailed or sent by post to the Chief General Manager, Department of Non-Banking Regulation, Reserve Bank of India, Central Office, 2nd Floor, Centre-1, World Trade Centre, Cuffe Parade, .....

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eriod of time, that would normally be undertaken by the financial institution itself. Outsourcing involves several risks which need to be managed. It is observed that Non-Banking Financial Companies (NBFCs) also extensively outsource some of their operations. Taking into consideration the need to put in place appropriate safeguards for addressing those risks, and in compliance with the recommendations of the Financial Sector Legislative Reforms Commission (FSLRC), it has been decided to lay down .....

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