RBI asks NBFC to implement CFSS by Sept 2025
24 Feb 2022 10:18:10
RESERVE Bank on Wednesday asked certain class of Non-Banking Financial Companies (NBFC) to mandatorily implement ‘Core Financial Services Solution (CFSS)’ by September 30, 2025 in order to provide seamless customer interface as well as have a centralised data base. CFSS is akin to the Core Banking Solution (CBS) adopted by banks.