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Posted Date : 19-Mar-2019 , 09:15:46 am | Posted By CASANSAAR
The RBI is pushing banks to tighten the process of monitoring the end use of funds through enhanced surveillance as it seeks to arrest evergreening and prevent divergence of funds by corporate borrowers. Senior bank executives said the urgency from the RBI has been heightened after the annu...
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Posted Date : 16-Mar-2019 , 08:59:03 am | Posted By CASANSAAR
The Reserve Bank of India has come out with guidelines to prevent misuse of price-sensitive information by participants in markets for financial instruments. The RBI said market participants, either acting independently or in collusion, shall not undertake any action with the intention to manipul...
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Posted Date : 08-Mar-2019 , 08:14:11 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) Thursday notified the norms for banks with regards to two per cent interest subvention or subsidy for short-term crop loans during 2018-19 and 2019-20. The Centre has already approved the scheme. To provide short-term crop loans up to Rs 3 lakh to fa...
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Posted Date : 06-Mar-2019 , 07:33:24 am | Posted By CASANSAAR
The Supreme Court will start hearing on the power, sugar, and shipping companies’ challenge to the Reserve Bank of India’s (RBI) February 12 circular from Wednesday. With a total exposure of nearly Rs 2 trillion in the power sector alone, companies, hoping for a verdict in their favou...
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Posted Date : 06-Mar-2019 , 07:28:09 am | Posted By CASANSAAR
India's central bank has fined at least 19 lenders, including top banks such as ICICI Bank and State Bank of India, for failing to comply with its guidelines on the use of global payments network SWIFT. The Reserve Bank of India (RBI) imposed the fines over the past four days, according to st...
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Posted Date : 04-Mar-2019 , 10:28:11 pm | Posted By CASANSAAR
The Reserve Bank of India has imposed a total monetary fine of Rs 8 crore on three banks - Karnataka Bank, United Bank of India and Karur Vysya Bank - for non-compliance of directions on Swift messaging software. While the RBI imposed a Rs 4 crore fine on Karnataka Bank, United Bank is facing a p...
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Posted Date : 01-Mar-2019 , 08:17:26 am | Posted By CASANSAAR
The Reserve Bank of India on Thursday said it has approved the amalgamation of 'DBS Bank, India' with 'DBS Bank India', the entity which has been granted permission to operate as a wholly owned subsidiary (WOS) of the Singaporean lender. It can be noted that DBS used to operate in...
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Posted Date : 27-Feb-2019 , 08:24:01 am | Posted By CASANSAAR
Seeking to curb excessive salary payout practices, the Reserve Bank has proposed strict compensation norms for senior officials of private as well as foreign banks, including minimum 50 per cent variable component and money clawback provisions. Floating a discussion paper, the central bank has al...
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Posted Date : 27-Feb-2019 , 08:11:56 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on February 26 said that Allahabad Bank, Corporation Bank and Dhanlaxmi Bank have been taken out of the Prompt Corrective Action (PCA) framework. In a statement, RBI said the Board for Financial Supervision (BFS) reviewed the performance of banks under PCA and note...
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Posted Date : 19-Feb-2019 , 06:43:33 am | Posted By CASANSAAR
The Reserve Bank has announced that it will transfer an interim surplus of 28,000 crore rupees to the central government for the half-year ended 31st December 2018. In a statement, the RBI said the decision has been based on a limited audit review and after applying the extant economic capital fr...
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Posted Date : 18-Feb-2019 , 09:26:44 pm | Posted By CASANSAAR
The Central Information Commission has pulled up the Reserve Bank of India for "perfunctory handling" of an RTI application seeking records of its board meetings where the issue of demonetisation was deliberated, and issued a show-cause notice to its Central Public Information Officer.&nbs...
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Posted Date : 18-Feb-2019 , 09:18:35 pm | Posted By CASANSAAR
The Reserve Bank has announced that it will transfer an interim surplus of Rs 28,000 crore to the central government for the half-year ended 31st December, 2018. In a statement issued on Monday evening, the RBI said the decision has been based on a limited audit review and after applying th...
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Posted Date : 13-Feb-2019 , 09:52:00 am | Posted By CASANSAAR
Reserve Bank has imposed monetary penalty of two million rupees each on HDFC Bank, IDBI Bank and Kotak Mahindra Bank for non-compliance of various Know Your Customer/ Anti-Money Laundering norms. In a statement issued from Mumbai yesterday, RBI informed that it has imposed monetary penalty ...
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Posted Date : 09-Feb-2019 , 10:35:29 am | Posted By CASANSAAR
The Reserve Bank has imposed a cumulative penalty of Rs 3.5 crore on state-owned lenders Corporation Bank and Allahabad Bank for violation of various norms. "This is to inform that Reserve Bank of India...has imposed an aggregate penalty of Rs 20 million on our bank due to some lapses in mon...
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Posted Date : 08-Feb-2019 , 09:02:41 am | Posted By CASANSAAR
State Bank of India Thursday said the Reserve Bank of India has slapped Rs 1 crore penalty on the country's largest lender for violating norms. RBI "in exercise of powers conferred under Section 47 A of the Banking Regulation Act, 1949 has levied a penalty of Rupees one crore on th...
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Posted Date : 06-Feb-2019 , 09:25:21 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) Tuesday said it has imposed a total penalty of Rs 2.2 crore on private sector lender Axis Bank in two separate cases. A penalty of Rs 2 crore has also been imposed on UCO Bank and Rs 1 crore on Syndicate Bank for violation of norms. The RBI said penalty of Rs...
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Posted Date : 05-Feb-2019 , 07:34:59 am | Posted By CASANSAAR
Reserve Bank of India said it would punish statutory auditors for lapses in conducting banks’ statutory audit and may even bar them from taking fresh audit assignment depending on the magnitude of it. The regulator said the quantum of punishment will depend on the magnitude of divergence fr...
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Posted Date : 27-Jan-2019 , 08:27:38 pm | Posted By CASANSAAR
The Supreme Court on Friday issued contempt notices to the RBI for failing to reveal under the Right to Information Act intelligence received on loan defaulters and details of action taken against banks in connection with fraud. In December 2015, a bench of the top court — comprising ...
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Posted Date : 17-Jan-2019 , 09:37:09 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Wednesday allowed entities that are eligible to receive foreign direct investment (FDI) to raise external commercial borrowings (ECBs), by enabling them to raise funds through automatic route up to $750 million per year. The ECBs raised would be within the overa...
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Posted Date : 17-Jan-2019 , 09:32:53 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on Bank of Maharashtra for deficiencies in regulatory compliance. According to the RBI, the fine was imposed by an order dated January 4, 2019 "for non-compliance with `Master Directions on Frauds-Classification and...
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Posted Date : 15-Jan-2019 , 10:51:30 am | Posted By CASANSAAR
The Reserve Bank of India has imposed a penalty of Rs 1 crore on Bajaj Finance for deficiencies in regulatory compliance. According to RBI, the penalty has been imposed, by an order on January 3, for violation of 'fair Practices Code of Master Direction DNBR'. "This ac...
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Posted Date : 12-Jan-2019 , 08:59:47 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has imposed a penalty of Rs 3 crore on Citibank India for not complying with directions regarding the 'fit-and-proper criteria' for directors of the bank. The RBI in a statement, however, added that the action is based on deficiencies in regulatory co...
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Posted Date : 09-Jan-2019 , 08:21:56 am | Posted By CASANSAAR
In a move aimed at enhancing the safety and security of the payment systems in the country, the Reserve Bank of India (RBI) on Tuesday issued guidelines on the use of tokenisation - a way to mask sensitive card data with unique symbols or elements. The tokenisation for debit/credit/prepaid card t...
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Posted Date : 08-Jan-2019 , 05:28:18 pm | Posted By CASANSAAR
The Reserve Bank of India on Tuesday appointed Infosys co-founder Nandan Nilekani as chairman of a committee to look into the digitisation of payments in India. Nilekani, who is known as the architect of the Aadhaar, and the former Unique Identification Authority of India (UIDAI) chairman, will be a...
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Posted Date : 07-Jan-2019 , 02:49:51 pm | Posted By CASANSAAR
Reserve Bank Governor Shaktikanta Das Monday said the central bank will take steps if there is a liquidity shortage in the economy, though currently liquidity needs are largely met. Das, who met associations of small and medium enterprises in the national capital, will meet non-banking financial ...
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Posted Date : 02-Jan-2019 , 06:46:19 pm | Posted By CASANSAAR
The Reserve Bank of India has undertaken enforcement action against seven banks (including a payments bank and a cooperative bank) and has imposed an aggregate penalty of Rs 14.20 crore for a wide range of contraventions in the period between July 1, 2018 and October 31, 2018, according to the lates...
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Posted Date : 02-Jan-2019 , 09:46:00 am | Posted By CASANSAAR
Reserve Bank has allowed a one-time restructuring of existing debt of up to 25 crore rupees for the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets. The decision will help the micro, small and medium enterprises (MSMEs) which a...
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Posted Date : 31-Dec-2018 , 01:16:50 pm | Posted By CASANSAAR
Fraudsters have looted Rs 41,167.7 crore from the banking system in 2017-18, a sharp jump of 72 per cent from Rs 23,933 crore the previous year, despite “stringent monitoring and vigilance”, according to data released by the Reserve Bank of India (RBI). There were 5,917 instances of b...
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Posted Date : 29-Dec-2018 , 04:32:30 pm | Posted By CASANSAAR
The central bank has called for strengthening the infrastructure at the National Company Law Tribunals (NCLT) to ensure time-bound resolution of stressed-asset loans in the banking sector, where the problem of mounting bad debt has prompted curbs on the normal operations at several high-street lende...
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Posted Date : 27-Dec-2018 , 10:34:31 am | Posted By CASANSAAR
Reserve Bank of India has named former Governor Bimal Jalan as the head of the expert panel that will decide on the appropriate size of reserves that the central bank should maintain and the dividend it should give to the government. RBI said in a statement yesterday that expert committee has bee...
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- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
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- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
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- GST Important Update - Enhancement in the GST Portal
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- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
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- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
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- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
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- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
Top Most RBI News On Casansaar Includes Latest News Details On Fema Forms,Fema Declaration,Updates On Reserve Bank Of India,RBI Circulars,Sebi,CA Firm.
