RBI imposes fine of Rs 11 crore on seven public sector banks for violating norms on current account opening. Allahabad Bank and Bank of Maharashtra have been imposed a fine of ₹2 crore each, Bank of Baroda, Bank of India, Indian Overseas Bank and United Bank of India have been slapped with fines ...

Based on the feedback from stakeholders and with a view to further liberalise the ECB framework, it has been decided, in consultation with the Government of India, to relax the end-use stipulations relating to external commercial borrowings for Working Capital requirements, General Corporate ...

The Reserve Bank has slapped a fine of Rs 25 lakh on two online payment solutions providers Mobikwik Systems and Hip Bar. Daily Current Affairs Quiz 2019 Mobikwik Systems Private Limited has been slapped a fine of Rs 15 lakh while Hip Bar Pvt Ltd faced a fine of Rs 10.85 lakh, according to ...

Reserve Bank of India or RBI assigned BP Kanungo to run the monetary policy portfolio. The monetary policy department, including forecasting and modelling unit, was earlier looked after by Acharya, who ended his stint as the deputy governor after last month's surprise resignation where the ...

The Reserve Bank of India (RBI) has penalised State Bank of India and Union Bank of India for violating certain regulatory guidelines. The penalty has been imposed on the bank for non-compliance of income recognition and asset classification (IRAC) norms, code of conduct for opening and operating ...

An internal committee of the Reserve Bank of India, which was set up to review timings of different financial markets, suggested that the foreign exchange market could function from 9 am to 9 pm At present, the currency market works from 9 am to 5 pm. It change the timing of the functioning of the ...

The Reserve Bank of India (RBI) board finalised a three- year roadmap to improve regulation and supervision, among other functions of the central bank. This medium term strategy name is Utkarsh 2022 which is in line with the global central banks’ plan to strengthen the regulatory and ...

Reserve Bank of India has set up a six-member working group to review the regulatory and supervisory framework for Core Investment Companies (CICs). The panel will be headed by Tapan Ray, Non-Executive Chairman, CBI. The move comes as the corporate group structures becomes more complex and ...

The Reserve Bank of India (RBI) has imposed penalties ranging between Rs 25-50 lakhs on four state-run lenders for violating Know Your Customer (KYC) norms and anti-money laundering standards. Punjab National Bank, Allahabad Bank, and UCO Bank were fined Rs 50 lakh each while Corporation Bank ...

Reserve Bank of India (RBI) deputy governor Viral Acharya, the lone man or the last man in RBI, who often batted for central bank's independence from both inside and outside quarters has reportedly called it a day. This is the second top level exit after the governor Urjit Patel, also an ...