A bank account may be frozen due to a UPI transaction when cyber police or a bank traces allegedly fraudulent money into that account after a cyber complaint, 1930 complaint or National Cyber Crime Reporting Portal complaint. However, freezing the entire bank account for one disputed UPI entry may be challenged if it is disproportionate,...
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An NBFC LSP Agreement is a contractual arrangement between a regulated lender, such as an NBFC, and a Lending Service Provider that performs one or more digital lending functions for the regulated entity, such as customer acquisition, services incidental to underwriting, loan servicing, monitoring or recovery. Under RBI’s Digital Lending Directions, digital lending through an...
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