Events
17th October, 2024
Time : 11:30 AM
Masterclass on NBFC Landscape: Latest Regulatory Insights and Compliance Best Practices
In India’s largely bank-centric financial system, where banks hold 60% of financial assets, Non-Banking Financial Companies (NBFCs) have become key players, accounting for 15% of these assets as of March 31, 2024. Regulated by the RBI since 1964 under Chapter IIIB of the RBI Act, NBFCs have seen their regulations evolve from rule-based to principle-based frameworks. A significant shift occurred in 2014 with the move to activity-based regulation, further refined by the implementation of a scale-based regulatory framework on October 1, 2022, which classifies NBFCs into four layers based on size and risk. This masterclass will explore the current regulatory directives impacting the compliance framework for NBFCs, including registration requirements, prudential norms, fair practices, digital lending standards, governance, recent RBI penalties over the past year, and the latest amendments from the RBI.
Join us for the Webinar on “Masterclass on NBFC Landscape: Latest Regulatory Insights and Compliance Best Practices” on Thursday, 17th Oct, 2024 from 11:30 am – 1:30 pm
Speakers:
Somesh Kumar, Director - Compliance, Propelld Group
Moderator:
Dr. Sumit Pahwa, Co-founder & CEO - Complinity Technologies
An All-In-One GRC Management Solution
Lead the digital revolution by digitizing and automating your Governance, Risk & Compliance (GRC) processes controls and tasks all on a single platform. Work collaboratively, share information selectively and increase efficiency in your business processes.
Benefits of Complinity GRC Tools
*One Time Implementation Charges : Depending on Entities and Locations
Complinity Compliance Software
Laws
Compliances
Companies
Industries
Brands that use Complinity GRC System
Testimonials
Founders
Sumit Pahwa
Cofounder & CEO
Hari Balasubramanian
Cofounder & CTO
Kapil Sharma
Cofounder & Legal Ops Head
Recognitions & Certifications
Events & Media
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Blog
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Embracing Software-Based Compliance Solutions: A Strategic Imperative for the Indian BFSI Sector
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Videos
What is Complinity?
Compliance Management
Contract Management
Litigation Management
Audit Management
Internal Financial Control Software
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FAQs
PRODUCT
Who are the actual users of the solution?
All compliance professionals who manage compliances of a particular location or department are the actual users. Senior management and Admin users can be created to supervise the overall Governance, Risk and Compliance process and administer the software application.
What are the benefits of using this application?
The application helps in minimizing risks like late payment fees, interest costs, license cancellation or even imprisonment. Apart from this it streamlines the process of managing processes like compliance, contract, litigation, audit management etc. by consolidating information on a single platform, giving role-based access, timely email alerts and real time dashboards.
Can different Complinity product/modules be purchased separately?
Complinity Base Modules include 8 modules ie. Compliance, Legal Updates, Registration and Licenses, Assessment, Secretarial, Insurance, Documents and Tasks. These are bundled together and offered together. The other 5 Add – On modules ie. Contract, Litigation, Audit, Internal Financial Control and Enterprise Risk Management can be purchased separately or in addition to the Complinity Base Modules.
Does the solution cover international Compliances?
Current scope of the compliances is limited to Indian Laws. Complinity covers Central, State, Municipal and Indian Industry Specific Laws. The user can track international laws on the platform as long as they can source the compliances in the standard Complinity excel format.
IMPLEMENTATION
Does the software require installation?
Complinity is primarily a cloud-based software which means that no installation of the software is required on the company’s local servers. Company account and individual user accounts are created after the signup process.
Is it a Cloud Solution or On-Premise solution?
Complinity is a cloud-based solution with all security protocols and certifications in place. It is trusted by more than 1000+ companies in India. On-Premise solution can be discussed on individual case by case basis.
How much time does it take to implement the solution?
Time depends on the scope of the implementation which is a factor of number of companies, industries, locations and departments involved. It also depends on the response time of the customers wrt to sharing required information. On the average it takes less than 3 months to Go Live after the sign-up process is over.
Which teams are involved in the implementation from the customer side and Complinity side?
Customer create their own implementation team which involves members who are directly responsible for doing the compliances and their seniors who track and monitor the compliances on a regular basis. Complinity’s Compliance and Implementation and Support team is involved in the implementation phase. A formal Kick off Call is arranged at the start of the implementation and the process ends with a formal Go Live mail sent by Complinity.
Will there be a relationship manager assigned to my company?
Complinity has a highly automated and streamlined process of supporting our customers. Customers can reach with their queries and concerns over a dedicated support number 8181 900 600, online ticket monitoring system called Helpdesk, Live chat and email etc. Although no dedicated relationship manager is assigned for every customer, the turn-around-time (TAT) of 48 hours is rigorously maintained and monitored by the senior management.
SECURITY
How is data secured on the platform? What security certifications have been obtained by Complinity?
Complinity takes customer data security very seriously. The application is CERT-in certified (the national nodal agency for responding to computer security incidents as and when they occur) by an independent third-party. The organization is ISO 9001, ISO 27001, ISO 27701 and SOC2 certified and undergoes monthly VAPT (Vulnerability Assessment & Penetration Testing) tests to ensure application robustness and security. Application-level security details can be requested from the respective sales representative.
Does Complinity cover GDPR compliances?
Yes, Complinity is GDPR compliant.
Can Complinity be hosted on our internal cloud?
Yes, but the commercials are different for customer’s internal cloud or On-Premise solutions. Please connect with your sales representatives for more details.
PRICING
What is the pricing model?
There are 2 components of the pricing. One Time cost covers the cost of Implementation and training and is dependent on the number of entities. The second component is the monthly subscription. It is based on the number of active users and covers licensing cost, legal updates, hosting charges and support and maintenance.
Is the pricing negotiable?
Prices mentioned in the Pricing section are very competitive. Complinity is a premium service and offers great value for money to its customers. For more than 10 users please talk to your sales representative for more details.
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Who We Are
Complinity is a comprehensive cloud-based Governance, Risk and Compliance Management System that helps track and monitor compliances, controls and tasks within a company.