RBI Policy Compliance

RBI Compliance Overview

DIGI-LOANS operates in strict compliance with all Reserve Bank of India (RBI) guidelines and regulations. As a registered Corporate Direct Selling Agent (DSA), we adhere to the highest standards set by India's central banking authority.

DSA Guidelines Compliance

Core RBI DSA Requirements:

• Registration Requirements: Proper registration with sponsoring banks/NBFCs
• Fit and Proper Criteria: All key personnel meet RBI's fit and proper criteria
• Capital Adequacy: Maintaining required capital as per RBI norms
• Operational Guidelines: Following prescribed operational procedures
• Reporting Requirements: Regular reporting to RBI and sponsoring institutions
• Record Maintenance: Comprehensive record keeping as mandated

Customer Protection Measures

• Fair Practices Code: Implementation of RBI's Fair Practices Code
• Transparent Pricing: Clear disclosure of all charges and fees
• Grievance Redressal: Structured grievance handling mechanism
• Customer Education: Adequate disclosure of terms and conditions
• Privacy Protection: Strict adherence to customer data protection norms
• Mis-selling Prevention: Measures to prevent mis-selling of products

KYC & AML Compliance

Know Your Customer (KYC) Requirements:

• Customer Identification: Proper customer identification procedures
• Document Verification: Verification of customer documents
• Customer Due Diligence: Enhanced due diligence for high-risk customers
• Ongoing Monitoring: Continuous monitoring of customer transactions
• Record Maintenance: Maintaining KYC records as per RBI timelines

Anti-Money Laundering (AML) Measures:

• Transaction Monitoring: Monitoring suspicious transactions
• Reporting Requirements: STR/CTR reporting to FIU-IND
• Risk Assessment: Regular AML risk assessments
• Employee Training: Regular AML training for all staff
• Policy Updates: Regular updates to AML policies

Data Localization & Security

• Data Storage: All critical data stored within Indian territory
• Data Processing: Processing systems located in India
• Cross-border Restrictions: Compliance with cross-border data transfer rules
• Security Standards: Implementation of RBI prescribed security measures
• Audit Requirements: Regular security audits as mandated

Interest Rate Guidelines

• Transparent Pricing: Clear communication of interest rates
• Annual Percentage Rate (APR): Disclosure of APR including all charges
• Processing Fees: Compliance with processing fee guidelines
• Prepayment Charges: Following RBI norms on prepayment penalties
• Penal Charges: Reasonable penal charges as per guidelines

Digital Lending Guidelines

• Digital Onboarding: Secure digital customer onboarding
• App-based Services: RBI compliant mobile applications
• Digital Signatures: Valid digital signature mechanisms
• Automated Decision Making: Transparent automated processes
• Digital Documentation: Proper digital document management

Grievance Redressal Mechanism

RBI Compliant Grievance Handling:

• Internal Mechanism: Structured internal grievance redressal
• Timeline Adherence: Resolution within RBI prescribed timelines
• Escalation Matrix: Clear escalation procedures
• Banking Ombudsman: Right to approach Banking Ombudsman
• Record Keeping: Maintenance of grievance records

Regulatory Reporting

• Periodic Returns: Regular submission of required returns
• Transaction Reporting: Reporting of specified transactions
• Compliance Certificates: Timely submission of compliance certificates
• Audit Reports: Sharing of internal and external audit reports
• Incident Reporting: Immediate reporting of significant incidents

Technology Risk Management

• IT Governance: Robust IT governance framework
• Cyber Security: Implementation of cyber security measures
• Business Continuity: Comprehensive business continuity planning
• Vendor Management: Proper third-party vendor risk management
• System Audits: Regular IT system audits

Consumer Education Initiatives

• Product Information: Clear product information dissemination
• Risk Disclosure: Adequate risk disclosure to customers
• Financial Literacy: Promoting financial literacy programs
• Digital Awareness: Educating customers about digital financial services
• Rights Awareness: Making customers aware of their rights

Compliance Monitoring

• Internal Audits: Regular internal compliance audits
• External Reviews: Third-party compliance assessments
• Management Oversight: Board-level compliance monitoring
• Staff Training: Regular compliance training programs
• Policy Updates: Timely updates to comply with new regulations

Recent RBI Guidelines

We continuously monitor and implement latest RBI guidelines including:

• Updated Master Direction on Outsourcing of Financial Services
• Guidelines on Digital Lending
• Revised Fair Practices Code
• Updated KYC Master Direction
• Cyber Security Framework guidelines
• Data localization requirements

Contact RBI

For direct communication with RBI:

• Website: www.rbi.org.in
• RBI Helpline: 14448
• Banking Ombudsman: Available through RBI website