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The Reporting Body Identifier is the first two digits of a Global System for Mobile Communications Type Allocation Code, and indicates the GSMA-approved organization that registered (or, before 2002, approved) a given mobile device, and allocated the model a unique code.
The functions of the subsidiary are governed by the provisions of The Deposit Insurance and Credit Guarantee Corporation Act, 1961 (DICGC Act) and The Deposit Insurance and Credit Guarantee Corporation General Regulations, 1961 framed by the Reserve Bank of India in exercise of the powers conferred by sub-section (3) of Section 50 of the Act.
The PCR is the culmination of recommendations given by the committee headed by Y.M. Deosthalee. The idea behind creating the public registry is to collate the financial information of individual and corporate borrowers under one platform, inclusive of financial delinquencies, pending legal suits, and willful defaulters.
It co-ordinates the rural financing activities of all institutions engaged in developmental work at the field level and maintains liaison with the Government of India, state governments, Reserve Bank of India (RBI) and other national level institutions concerned with policy formulation. [19]
The actual mechanism should follow the consent architecture laid down by the RBI. [5] The account aggregators are expected to make loan applications easier for users by providing data access to financial institutions. [6] RBI has given operating licences to four account aggregators and in-principle approvals to three NBFC account aggregators.
In April 2014, Bandhan received an in-principle approval from the Reserve Bank of India (RBI) for a bank license. [5] On June 17, 2015, RBI granted the banking licence to Bandhan, making it the first microfinance institution to become a universal bank in India. [6] Bandhan Bank commenced operations on August 23, 2015.
Small Industries Development Bank of India (SIDBI) is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India.
National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI). Started in November 2005, the setup was established and maintained by Institute for Development and Research in Banking Technology. [1]