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RBI slaps SBI with monetary penalty
Updated : 8 years ago IST
New Delhi [India], Mar. 08 (ANI): The Reserve Bank of India (RBI) on March 1, imposed a monetary penalty of Rs. 40 lakh on State Bank of India (SBI) for non-compliance of its directions on detection and impounding of counterfeit notes.
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ToneTag's RetailPod looks to empower merchants, revolutionize digital paym
Updated : 8 years ago IST
New Delhi [India], Mar 6 (ANI): As RBI data reveals that currency in circulation is almost at pre-demonetisation levels, ToneTag - a sound-based proximity communications and payment services provider - has been promoting Digital India with its products.
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RBI imposes Rs.30 million-penalty on Axis Bank
Updated : 8 years ago IST
Mumbai (Maharashtra) [India], Mar. 5 (ANI): The Reserve Bank of India (RBI) imposed a monetary penalty worth Rs. 30 million on Axis Bank Limited (the bank) for non-compliance with the directions issued on Income Recognition and Asset Classification (IRAC) norms.
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RBI charges fine on IOB over non-compliance with KYC norms
Updated : 8 years ago IST
Mumbai (Maharashtra) [India], Mar. 5 (ANI): The Reserve Bank of India (RBI) imposed a monetary penalty of Rs.20 million on Indian Overseas Bank for non-compliance with the directions issued by the former regarding Know Your Customer (KYC) norms.
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Tough RBI tightens PSL norms for foreign banks
Updated : 8 years ago IST
New Delhi [India], Mar 5. (ANI): The Reserve Bank of India (RBI) on Monday tightened Priority Sector Lending (PSL) norms for foreign banks by directing them to mandatorily create sub-targets so that they lend a portion of their loans to small and marginal farmers, micro enterprises (MSMEs) f
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Foreign exchange earnings witness 9.9% jump in Jan '18
Updated : 8 years ago IST
New Delhi [India], Mar. 1 (ANI): India's foreign exchange earnings (FEEs) for the month of January 2018, saw a 9.9 percent growth compared to that of the same period last year.
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PNB fraud: ASSOCHAM urges continuation of business lending
Updated : 8 years ago IST
New Delhi [India], Feb 25 (ANI): While the 1.77 billion dollar Punjab National Bank (PNB) fraud shook the economy, the ASSOCHAM on Sunday urged that business lending should not be allowed to halt.
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RBI sets April 30 deadline for banks to link CBS with SWIFT
Updated : 8 years ago IST
New Delhi [India], Feb 25 (ANI): In a bid to tighten internal controls in the banks, the Reserve Bank of India (RBI) has asked banks to integrate SWIFT (Society for Worldwide Interbank Financial Telecommunication) with its core banking solutions (CBS) by April 30.
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Bank of Maharashtra lodges FIR against four for loan default
Updated : 8 years ago IST
New Delhi [India], Feb 24 (ANI): Adding to the bandwagon of loan defaulters, the Bank of Maharashtra has filed an FIR with the Central Board of Investigation (CBI) against Delhi-based businessman Amit Singla and others over alleged loan default.
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RBI introduces Ombudsman Scheme for NBFCs
Updated : 8 years ago IST
New Delhi [India], Feb 23 (ANI): As announced in its Monetary Policy Statement on February 7, India's central bank, Reserve Bank of India (RBI), on Friday launched the Ombudsman Scheme for Non-Banking Financial Companies (NBFCs).
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Auxilo Finserve firms up Rs. 150 crore. to finance higher studies and scho
Updated : 8 years ago IST
New Delhi [India], Feb. 23 (ANI-NewsVoir): After having expanded its presence in Hyderabad and Chennai, Auxilo Finserve Pvt. Ltd., one of India's next-level education ecosystem financing NBFCs, has deliberated plans to serve the education needs of northern region, especially Delhi circle.
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BSE to launch cross currency derivatives and cross INR options
Updated : 8 years ago IST
Mumbai (Maharashtra) [India], Feb 21 (ANI): The Bombay Stock Exchange (BSE) on Wednesday received the approval from Securities and Exchange Board of India (SEBI) for introducing cross currency derivatives (future and options) on pairs such as Euro (EUR) - US Dollar (USD), Pound Sterling (GBP
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