{"id":223527,"date":"2020-01-11T09:00:27","date_gmt":"2020-01-11T03:30:27","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=223527"},"modified":"2020-07-14T20:48:40","modified_gmt":"2020-07-14T15:18:40","slug":"symposium-on-nbfcs-fintechs-in-india-the-road-travelled-way-forward-session-3","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/01\/11\/symposium-on-nbfcs-fintechs-in-india-the-road-travelled-way-forward-session-3\/","title":{"rendered":"Symposium on \u2018NBFCs &#038; FinTechs in India: The Road Travelled &#038; Way Forward\u2019 | Session 3"},"content":{"rendered":"<h4 style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>Session 3: Conflict Resolution in the NBFC and FinTech Sector<\/strong><\/span><\/h4>\n<p style=\"text-align: justify;\"><strong>[L-R \u2013 Ms. Kritika Krishnamurthy; Mr. Sameer Karekatte; Mr. P K Malhotra; Mr. Ashok Barat]<\/strong><\/p>\n<p style=\"text-align: justify;\">Owing to recent scams that have been uncovered, the regulatory supervision of NBFCs has been tightened. At the same time, there is a need for effective dispute resolution of existing disputes between various participants of the NBFC ecosystem. Ease of dispute resolution shall also assist in streamlining the system, making it more efficient in terms of time and finances for both NBFCs and other stakeholders. <em>Inter alia <\/em>the panel discussed the need for looking at the demand side of conflict resolution in India and the scope of the same to diametrically reduce the same by resorting to various ADR mechanisms.<\/p>\n<div style=\"width: 1346px;\" class=\"wp-video\"><!--[if lt IE 9]><script>document.createElement('video');<\/script><![endif]-->\n<video class=\"wp-video-shortcode\" id=\"video-223527-1\" width=\"1346\" height=\"757\" preload=\"metadata\" controls=\"controls\"><source type=\"video\/mp4\" src=\"https:\/\/blog.scconline.com\/wp-content\/uploads\/2019\/12\/Mr.AshokBarat.mp4?_=1\" \/><a href=\"https:\/\/blog.scconline.com\/wp-content\/uploads\/2019\/12\/Mr.AshokBarat.mp4\">https:\/\/blog.scconline.com\/wp-content\/uploads\/2019\/12\/Mr.AshokBarat.mp4<\/a><\/video><\/div>\n<div style=\"width: 1280px;\" class=\"wp-video\"><video class=\"wp-video-shortcode\" id=\"video-223527-2\" width=\"1280\" height=\"720\" preload=\"metadata\" controls=\"controls\"><source type=\"video\/mp4\" src=\"https:\/\/blog.scconline.com\/wp-content\/uploads\/2019\/12\/Mr.SameerKarekatte.mp4?_=2\" \/><a href=\"https:\/\/blog.scconline.com\/wp-content\/uploads\/2019\/12\/Mr.SameerKarekatte.mp4\">https:\/\/blog.scconline.com\/wp-content\/uploads\/2019\/12\/Mr.SameerKarekatte.mp4<\/a><\/video><\/div>\n<div style=\"width: 1280px;\" class=\"wp-video\"><video class=\"wp-video-shortcode\" id=\"video-223527-3\" width=\"1280\" height=\"720\" preload=\"metadata\" controls=\"controls\"><source type=\"video\/mp4\" src=\"https:\/\/blog.scconline.com\/wp-content\/uploads\/2019\/12\/ShriP.K.Malhotra-1.mp4?_=3\" \/><a href=\"https:\/\/blog.scconline.com\/wp-content\/uploads\/2019\/12\/ShriP.K.Malhotra-1.mp4\">https:\/\/blog.scconline.com\/wp-content\/uploads\/2019\/12\/ShriP.K.Malhotra-1.mp4<\/a><\/video><\/div>\n<div style=\"width: 1280px;\" class=\"wp-video\"><video class=\"wp-video-shortcode\" id=\"video-223527-4\" width=\"1280\" height=\"720\" preload=\"metadata\" controls=\"controls\"><source type=\"video\/mp4\" src=\"https:\/\/blog.scconline.com\/wp-content\/uploads\/2019\/12\/ShriP.K.Malhotra-2.mp4?_=4\" \/><a href=\"https:\/\/blog.scconline.com\/wp-content\/uploads\/2019\/12\/ShriP.K.Malhotra-2.mp4\">https:\/\/blog.scconline.com\/wp-content\/uploads\/2019\/12\/ShriP.K.Malhotra-2.mp4<\/a><\/video><\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Session 3: Conflict Resolution in the NBFC and FinTech Sector [L-R \u2013 Ms. Kritika Krishnamurthy; Mr. Sameer Karekatte; Mr. P K Malhotra; <\/p>\n","protected":false},"author":8808,"featured_media":223489,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[42503,1191],"tags":[37235,38974,37092,38981],"class_list":["post-223527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-analysis","category-op-ed","tag-dispute-resolution","tag-fintechs","tag-nbfcs","tag-regulatory-supervision"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Symposium on \u2018NBFCs &amp; FinTechs in India: The Road Travelled &amp; Way Forward\u2019 | Session 3 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2020\/01\/11\/symposium-on-nbfcs-fintechs-in-india-the-road-travelled-way-forward-session-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Symposium on \u2018NBFCs &amp; 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[L-R \u2013 Mr Marko Carevic; Col. Sarpreet Benipal; Mr Mahesh Thakkar; Mr Sanjeev Goel] Financial Inclusion is an important agenda for Reserve Bank of India and Government of India. The National Strategy for Financial Inclusion 2019-24 has also been prepared.\u2026","rel":"","context":"In &quot;OP. ED.&quot;","block_context":{"text":"OP. 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Their key function\u2026","rel":"","context":"In &quot;OP. ED.&quot;","block_context":{"text":"OP. 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These guidelines intend to provide regulating framework to Non-Banking Financial Company (NBFCs) and their Nomination and Remuneration Committees\u00a0(NRCs). These guidelines shall come into effect from April 01, 2023. Key\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":250479,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/06\/30\/rbi-issues-guidelines-on-declaration-of-dividends-by-nbfcs\/","url_meta":{"origin":223527,"position":4},"title":"RBI issues guidelines on declaration of dividends by NBFCs","author":"Prachi Bhardwaj","date":"June 30, 2021","format":false,"excerpt":"The Reserve Bank of India has issued circular dated June 24, 2021 prescribing the guidelines on distribution of dividend by NBFC\u2019s. The guidelines shall be applicable to all NBFCs regulated by RBI and shall be effective for declaration of dividend from the profits of the financial year ending March 31,\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":265084,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/04\/06\/rbi-notifies-net-owned-fund-for-nbfcs-to-commence-business\/","url_meta":{"origin":223527,"position":5},"title":"RBI notifies net owned fund for NBFCs to commence business","author":"Bhumika Indulia","date":"April 6, 2022","format":false,"excerpt":"The Reserve Bank of India has specified ten crore rupees as net owned fund (NOF) required for following categories of non- banking financial companies to commence or carry on the business of non-banking financial institution from October 01, 2022: (a) Non-banking financial company \u2013 Investment and Credit Company (NBFC-ICC); (b)\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-147.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/223527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=223527"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/223527\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/223489"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=223527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=223527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=223527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}