Search For "reserve bank"
FICCI cautions Centre on possible reduction of credit support
Updated : 8 years ago IST
New Delhi [India], Mar. 16 (ANI): Responding to the Reserve Bank of India's (RBI) notice discontinuing the issuance of Letters of Undertaking (LOUs) and Letters of Comfort (LOCs) for trade credit for imports, the Federation of Indian Chambers of Commerce and Industry (FICCI) said although th
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LG orders investigation into Delhi Nagarik Sehkari Bank irregularities
Updated : 8 years ago IST
New Delhi [India] March 15 (ANI) Lt. Governor of Delhi Anil Baijal on Thursday ordered an investigation into irregularities in Delhi Nagarik Sehkari Bank Limited.
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No banking regulator can catch, prevent all frauds: Urjit Patel
Updated : 8 years ago IST
New Delhi [India], Mar. 14 (ANI): In view of the recent Nirav Modi-led Punjab National Bank (PNB) fraud case, Reserve Bank of India (RBI) Governor Urjit Patel on Wednesday said that it is not possible for any banking regulator to catch or prevent all frauds.
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RBI discontinues LOUs/LOCs issuance for trade credit for imports
Updated : 8 years ago IST
New Delhi [India], Mar 13 (ANI): The Reserve Bank of India (RBI) on Tuesday announced discontinuation of the issuance of Letters of Undertaking (LOUs) and Letters of Comfort (LOCs) for trade credit for imports with immediate effect.
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IBBI, RBI sign MoU for effective implementation of insolvency code
Updated : 8 years ago IST
New Delhi [India], Mar. 13 (ANI): The Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) with the Reserve Bank of India (RBI) for effective implementation of the Insolvency and Bankruptcy Code and its allied rules and regulations, through a quick and
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Limit collateral damage from bank frauds, urges ASSOCHAM
Updated : 8 years ago IST
New Delhi [India], Mar. 11 (ANI): Apex trade association ASSOCHAM on Sunday said that all out efforts must be made by banks, regulators, government and India Inc to limit the collateral damage from the alleged fraud in the Punjab National Bank (PNB) row.
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RBI imposes Rs 5 cr penalty on Airtel Payments Bank
Updated : 8 years ago IST
New Delhi [India], Mar. 10 (ANI): The Reserve Bank of India (RBI) imposed a penalty of Rs. 5 crore on Airtel Payments Bank, the financial services arm of Bharti Airtel Limited, for violating operating guidelines and Know Your Customer (KYC) norms.
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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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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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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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