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 an […]
RBI slapped a fine of Rs 25 lakh on Mobikwik and Hip Bar Read More »
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 outspoken academic chose to cut short his time in office.
RBI assigned BP Kanungo to run the monetary policy portfolio Read More »
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 current accounts and reporting of data on Central
Reserve Bank of India imposed fine on State Bank of India and Union Bank of India Read More »
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
RBI formed an internal committee to review timings of different financial markets Read More »
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 supervisory mechanism, sources aware of the board meeting.
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 layered. The working group has been asked to submit
RBI form panel to review supervisory framework for core investment companies Read More »
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 was fined Rs 25 lakh. The banking regulator found
RBI imposes fine on four public sector banks for violating KYC norms Read More »
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 economist who held the
RBI launched Complaint Management System to facilitate grievance redressal process Read More »
RBI Deputy Governor Viral Acharya, who was in-charge of the monetary policy department, has resigned six months before the scheduled end of his term, the Reserve Bank of India (RBI) confirmed on Monday. Acharya submitted a letter a few weeks ago saying he was unable to continue his term beyond July 23 due to unavoidable
RBI Deputy Governor Viral Acharya Resigns Before Term Ends Read More »
RBI expert committee on Micro, Small and Medium Enterprises (MSMEs) headed by the former Securities and Exchange Board of India (SEBI) Chairman U K Sinha, has recommended doubling the capital on collateral-free loans from the current Rs 10 lakh to Rs 20 lakh, for borrowers falling under the Micro Units Development and Refinance Agency (MUDRA),
RBI panel on MSMEs suggested Rs 20 lakh collateral-free loan under Mudra Scheme Read More »
