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Sudipto Roy, MD and CEO of L&T Finance, asserts that working in banks and non-banking financial companies (NBFCs) is similar due to stringent regulatory scrutiny from the Reserve Bank of India. He emphasizes that upper-layer NBFCs operate like banks, highlighting the indistinguishable nature of their operations. Roy, who transitioned from a banking background, took charge of L&T Finance as it aimed to focus entirely on retail NBFC services.
Singapore is proposing a new bill to empower police to restrict banking transactions for individuals suspected of sending money to scammers, amid a surge in scam cases that have increased nearly fivefold since 2019. The Protection for Scams Bill aims to protect victims who, despite warnings, continue to authorize transfers, with 86% of reported scams in early 2024 involving such individuals. The bill allows for temporary restriction orders on banking activities, which can be extended if necessary, as part of broader efforts to combat rising financial crime.
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regulatory scrutiny blurs lines between banks and nbfc operations says l&t finance ceo
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11:53 27.11.2024
singapore proposes bill to restrict banking for scam victims amid rising cases
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20:12 12.11.2024
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