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Posted Date : 24-May-2022 , 04:12:40 pm | Posted By CASANSAAR
The RBI on Monday said it has set up a committee to evaluate the efficacy, adequacy and quality of customer service in banks, NBFCs, and other entities regulated by it. The six-member committee headed by former RBI deputy governor B P Kanungo has been asked to submit a report ...
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Posted Date : 24-May-2022 , 08:40:07 am | Posted By CASANSAAR
As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on April 08, 2022, the Reserve Bank of India had announced setting up of a Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) for examini...
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Posted Date : 13-May-2022 , 09:17:42 am | Posted By CASANSAAR
In an important judgment, the Supreme Court on Wednesday ruled that state laws cannot apply to over 9,500 non-banking financial companies (NBFCs) registered with the Reserve Bank of India (RBI). Sawing off attempts by the Kerala and Gujarat governments to bring the NBFCs under the purview of th...
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Posted Date : 23-Apr-2022 , 09:57:29 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Friday said that it has imposed a monetary penalty of Rs 36 lakh on Central Bank of India for non-compliance with certain directions of the central bank. The order was issued on April 18, 2022. The lender has been penalised for failing to comply with dir...
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Posted Date : 30-Mar-2022 , 08:09:59 am | Posted By CASANSAAR
India lost at least Rs 100 crore every day to bank fraud or scams over the past seven years, although there was a year-on-year reduction in the total amount involved, according to RBI data. The finance ministry, however, said measures put in place for prompt reporting and prevention had led t...
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Posted Date : 15-Mar-2022 , 08:07:47 am | Posted By CASANSAAR
The Reserve Bank of India has imposed a penalty of Rs 12.75 lakh on eight cooperative banks for deficiencies in regulatory compliances, the central bank said on Monday. The RBI has slapped a penalty of Rs 4 lakh on The Nabapalli Cooperative Bank Limited, Barasat, 24 Paraganas (N), West Bengal f...
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Posted Date : 12-Mar-2022 , 09:33:52 am | Posted By CASANSAAR
Reserve Bank of India (RBI) has barred Paytm Payments Bank from opening new accounts with immediate effect. RBI has also directed Paytm Payments Bank to appoint an IT audit firm to conduct a comprehensive audit of its IT system. In a statement, RBI said the onboarding of new customers will be s...
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Posted Date : 09-Mar-2022 , 10:01:52 am | Posted By CASANSAAR
RBI launched UPI for feature phones called UPI123pay. RBI governor Shaktikanta Das launched the UPI123pay and also launched a 24x7 helpline for digital payments in Mumbai. This new initiative by RBI will facilitate use of UPI with text and allow feature phone users to seamlessly perform various fina...
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Posted Date : 24-Feb-2022 , 10:01:46 am | Posted By CASANSAAR
The Reserve Bank of India on Wednesday issued amended Payments and Settlement Systems Regulations that allows companies wanting to run payment businesses to seek licenses from the regulator. The licensing application should include process flow of the operator, technology platform to be u...
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Posted Date : 23-Feb-2022 , 09:31:24 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday urged the public to exercise utmost caution while using unauthorised prepaid payment instruments (PPIs) saying they must verify beforehand that application or entity that they are dealing with is authorised to carry out the activity it performs or assures t...
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Posted Date : 21-Feb-2022 , 12:19:52 pm | Posted By CASANSAAR
The Reserve Bank of India on Friday said the Regulations Review Authority has recommended withdrawing about 100 more redundant circulars, besides elimination of certain paper based returns, a move expected to ease compliance for regulated entities. The Reserve Bank of India has set up the Regulat...
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Posted Date : 25-Jan-2022 , 08:16:54 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on January 24 imposed monetary penalties on eight cooperative banks for the violation of loan and know your customer norms. These banks are Rajkot Peoples Cooperative Bank, Vasai Janata Sahakari Bank, Mogaveera Cooperative Bank, The Varachha Cooperative Bank, The...
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Posted Date : 24-Dec-2021 , 09:46:26 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has imposed monetary penalty on the following two Payment System Operators (PSOs) for committing offences of the nature referred to in Section 26 (6) of the Payment and Settlement Systems Act, 2007 (PSS Act). Sr. No. Name of the PSO ...
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Posted Date : 30-Nov-2021 , 08:26:38 am | Posted By CASANSAAR
The Reserve Bank of India on Monday imposed a monetary penalty of Rs 1 crore on state-owned Union Bank of India for deficiencies in regulatory compliance. The penalty was imposed by an order dated November 25 for non-compliance with the certain provisions of directions issued by the RBI contained in...
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Posted Date : 27-Nov-2021 , 09:19:11 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) today imposed a monetary penalty of ₹ 1 crore on the country's largest lender State Bank of India (SBI) For holding shares in the borrower companies of an amount exceeding 30 per cent of the paid-up share capital of those companies. The RBI imposed the penal...
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Posted Date : 11-Nov-2021 , 07:40:06 am | Posted By CASANSAAR
Reserve Bank is organising its first global hackathon – “HARBINGER 2021 – Innovation for Transformation” with the theme ‘Smarter Digital Payments’. The Hackathon invites participants to identify and develop solutions that have the potential to make digital pa...
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Posted Date : 30-Oct-2021 , 08:52:46 am | Posted By CASANSAAR
Banks may open current accounts for borrowers who have availed credit facilities in the form of cash credit (CC)/ overdraft (OD) from the banking system, said Reserve Bank of India (RBI) on October 29 in a release. The development comes after the RBI reviewed and took into account the feedbac...
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Posted Date : 30-Oct-2021 , 08:32:32 am | Posted By CASANSAAR
The government has approved the reappointment of Shaktikanta Das as Governor of the Reserve Bank of India for a period of three years. The Appointments Committee of the Cabinet has approved the reappointment of Mr Das. The re-appointment will be effective from 10th December this year or until fur...
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Posted Date : 29-Oct-2021 , 07:42:51 am | Posted By CASANSAAR
The RBI has said it proposes to make micro-lending collateral-free, not just for microfinance institutions (MFIs) but for all lenders. Delivering the inaugural address at the Sa-Dhan National Conference on 'Revitalising financial inclusion' on Wednesday, RBI deputy governor Rajeshwar Rao sai...
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Posted Date : 23-Oct-2021 , 07:40:43 am | Posted By CASANSAAR
The Reserve Bank of India on Friday announced a limit on non-bank lenders financing subscriptions to initial share sales to stem the flow of large amounts of borrowed capital by high net worth individuals to such offerings. “There shall be a ceiling of ₹1 crore per borrower for financ...
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Posted Date : 22-Oct-2021 , 07:41:39 am | Posted By CASANSAAR
The Reserve Bank of India on Wednesday imposed a monetary penalty of ₹1 crore on Paytm Payments Bank Limited (PPBL) over certain specified violations. On examination of Paytm Payments Bank’s application for issue of final Certificate of Authorisation, the RBI observed that PPBL had ...
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Posted Date : 19-Oct-2021 , 08:42:12 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 1 crore on the country’s largest lender, State Bank of India (SBI), for not complying with directions issued by the central bank with regard to fraud classification and reporting by commercial banks. “This ac...
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Posted Date : 13-Oct-2021 , 08:57:06 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has barred chartered accountant firm Haribhakti & Co. LLP, from undertaking any type of audit assignments for any entities regulated by it for a period of two years with effect from April 1, 2022. "This action has been taken on account of the failure on ...
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Posted Date : 28-Sep-2021 , 08:13:49 am | Posted By CASANSAAR
Reserve Bank of India (RBI) on September 27 imposed a monetary penalty of Rs 2 crore on RBL Bank for contravention of former's directions on Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 and non-compliance with provisions of clause (b) of sub-section (2) of section 10A ...
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Posted Date : 14-Sep-2021 , 08:27:04 am | Posted By CASANSAAR
Banking regulator Reserve Bank of India (RBI) on Monday cautioned people not to share account login details, personal information, copies of KYC documents, card information, PIN, password and OTP with unidentified persons or agencies. "Such details should not be shared through unverified/una...
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Posted Date : 28-Aug-2021 , 07:39:10 am | Posted By CASANSAAR
Reserve Bank of India has announced issue price for Sovereign Gold Bond Scheme 2021-22 - Series VI. RBI has fixed price of 4,732 Rupee per gram for bonds which will be available for subscription from Monday and will remain open till 3rd September 2021. A discount of Rupees 50 will be given to inv...
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Posted Date : 27-Aug-2021 , 09:46:39 am | Posted By CASANSAAR
The Reserve Bank of India has appointed Shri Ajay Kumar as Executive Director (ED) with effect from August 20, 2021. Prior to being promoted as ED, Shri Ajay Kumar was heading the New Delhi Regional Office of the Bank as Regional Director. Shri Kumar has, over a span of three decades, served i...
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Posted Date : 24-Aug-2021 , 08:47:37 am | Posted By CASANSAAR
The expert committee on Urban Co-operative Banks was set up on February 2021 under the chairmanship of former Deputy Governor of Reserve Bank of India (RBI), NS Vishwanathan. The expert committee on August 23 submitted its report in two parts. The first part of the report lays o...
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Posted Date : 19-Aug-2021 , 09:01:38 am | Posted By CASANSAAR
The Reserve Bank on Wednesday came out with revised guidelines for the hiring of lockers under which the liability of banks will be limited to 100 times its annual rent in case of fire, theft, building collapse or frauds by bank employees. As per the revised guidelines, which shall come into effe...
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Posted Date : 10-Aug-2021 , 08:15:39 am | Posted By CASANSAAR
The Reserve Bank on Monday issued draft guidelines to further liberalise regulatory framework governing overseas investments with a view to promote ease of doing business. The RBI has placed on its website two documents -- draft Foreign Exchange Management (Non-debt Instruments - Overseas Investm...
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- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- 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
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- 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.
