Non-Banking Financial Companies (NBFC) cannot outsource core management functions like internal audit, strategic and compliance functions for your Know Your Customer (KYC) norms, the sanction of loans and management of investment portfolio. As per notification number RBI/2017-18/87 on RBI’s website, Access to customer information by the staff of the service provider shall be on ‘need … Continue reading “New outsourcing norms for NBFC released by RBI”