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Regulations, audit for UCBs & NBFCs to be brought on par with banks: RBI

Non-banking finance companies (NBFCs) have got special attention in the latest monetary review with Reserve Bank of India (RBI) governor Shaktikanta Das making the central bank’s commitment to ensure these entities are strong and robust while also announcing tighter regulations for the sector in the near future. “We want the NBFC sector to remain robust. It plays an important part in filling the last mile gap and hence we have also made some changes like allowing co-lending with banks. It is a priorty for the RBI to ensure they remain strong and work well,” Das said. RBI has proposed a scale based regulatory framework for NBFCs depending on their size, a discussion paper for which will be out by January 15 for public comments.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.