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RBI Fines ICICI, Axis, 3 Other Key Banks Over Lack Of Regulatory Compliances
A penalty of Rs 31.80 lakh was imposed on Bank of Maharashtra for non-compliance with certain directions on KYC.
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RBI Imposes Rs 75 Lakh Penalty On HDFC Bank For Breach Of Norms
The Reserve Bank of India (RBI) has imposed a penalty of Rs 75 lakh on HDFC Bank, the country's largest private sector lender, for not complying with directions in the RBI's Know Your Customer (KYC) master direction, according to officials.
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RBI Imposes Rs 76.6 Lakh Penalty On Four Entities
The Reserve Bank on Friday said it has imposed Rs 76.6 lakh penalty on four non-banking financial companies for non-compliance with certain provisions of its directions related to 'peer-to-peer lending platform'.
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Axis Bank, HDFC Bank Fined 2.91 Crore For Deficiencies In Regulatory Compliance
The RBI said a penalty of Rs 1.91 crore has been imposed on Axis Bank for contravention of certain provisions of the Banking Regulation Act, and non-compliance with certain directions.
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RBI Fines Visa Rs 2.41 Crore Over Usage Of Unauthorised Payment Method
The Reserve Bank of India imposed a penalty of Rs 2.41 crore (nearly $288,000) on Visa in relation to its usage of an unauthorised payment transfer method, the central bank said on Friday.
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Punjab National Bank Among 5 Banks Penalised By RBI For Non-Compliance
The Reserve Bank of India (RBI) has penalized five banks, including Punjab National Bank (PNB), in the first week of July for non-compliance with various RBI directions.
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Kotak Mahindra Bank Down By 12% As Markets Decline In Early Trade
Equity benchmark indices declined in early trade on Thursday, giving up their gains of last four days, amid heavy selling in Kotak Mahindra Bank and foreign fund outflows.
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RBI Penalises LIC Housing Finance, IDFC First Bank Over Violation
The Reserve Bank on Friday said it has imposed a penalty of Rs 1 crore on IDFC First Bank and Rs 49.70 lakh on LIC Housing Finance for violation of certain norms.
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Financial Intelligence Unit Imposes Penalty of Over Rs. 5 Crore on Paytm Payments Bank
India's Financial Intelligence Unit (FIU) on Friday imposed a penalty of Rs. 5,49,00,000 ($662,565) on Paytm's banking arm, Paytm Payments Bank, for violations in reporting illegal money routed through its accounts, the country's finance ministry said.
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RBI Fines State Bank Of India, Canara Bank For Regulatory Violations
The Reserve Bank of India (RBI) imposed a monetary penalty on State Bank of India and Canara Bank for regulatory violations, the central bank said in a press statement on Monday.
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PayPal Moves Delhi High Court Against Order Holding It as ‘Payment System Operator’ Under Money Laundering Law
American online payment gateway PayPal on Wednesday moved the Delhi High Court against an order which ruled that it was a "payment system operator" under the Prevention of Money Laundering Act (PMLA) and has to thus comply with "reporting obligations" under it.
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Cyber Fraud Cases Reports Crossed Over 14,000 in 2021, MoS Informs Parliament
As many as 14,007 cyber fraud cases were registered in 2021, Parliament was informed on Monday. Quoting National Crime Records Bureau (NCRB) data, Minister of State for Finance Bhagwat Karad said "total number of cyber fraud cases which includes...frauds committed through online apps is 14,007 in 2021 (latest published data pertains to the year 20...
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Amazon Pay India Faces Penalty of Over Rs. 3.06 Crore by RBI for Non-Compliance
The Reserve Bank of India on Friday said it has imposed a penalty of over Rs. 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. "It was observed that the entity was non-compliant with the directions issued by RBI on KYC re...
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RBI Imposes Penalties On 3 Cooperative Banks Over Non-Compliance
The Reserve Bank in a statement said it has imposed penalty on three cooperatives banks for deficiencies in regulatory compliance. The three cooperative banks include, The Maharashtra State Co-operative Bank; The Nasik Merchant's Co-operative Bank;
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Google Pay Alleged to Operate Without Authorisation, Delhi High Court Asks RBI and Google to Respond
Delhi High Court on Wednesday asked the Reserve Bank of India (RBI) how Google's mobile payment app, Google Pay, was facilitating financial transactions without the requisite authorisation from it.
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RBI Fines ICICI, Axis, 3 Other Key Banks Over Lack Of Regulatory Compliances
A penalty of Rs 31.80 lakh was imposed on Bank of Maharashtra for non-compliance with certain directions on KYC.
-
RBI Imposes Rs 75 Lakh Penalty On HDFC Bank For Breach Of Norms
The Reserve Bank of India (RBI) has imposed a penalty of Rs 75 lakh on HDFC Bank, the country's largest private sector lender, for not complying with directions in the RBI's Know Your Customer (KYC) master direction, according to officials.
-
RBI Imposes Rs 76.6 Lakh Penalty On Four Entities
The Reserve Bank on Friday said it has imposed Rs 76.6 lakh penalty on four non-banking financial companies for non-compliance with certain provisions of its directions related to 'peer-to-peer lending platform'.
-
Axis Bank, HDFC Bank Fined 2.91 Crore For Deficiencies In Regulatory Compliance
The RBI said a penalty of Rs 1.91 crore has been imposed on Axis Bank for contravention of certain provisions of the Banking Regulation Act, and non-compliance with certain directions.
-
RBI Fines Visa Rs 2.41 Crore Over Usage Of Unauthorised Payment Method
The Reserve Bank of India imposed a penalty of Rs 2.41 crore (nearly $288,000) on Visa in relation to its usage of an unauthorised payment transfer method, the central bank said on Friday.
-
Punjab National Bank Among 5 Banks Penalised By RBI For Non-Compliance
The Reserve Bank of India (RBI) has penalized five banks, including Punjab National Bank (PNB), in the first week of July for non-compliance with various RBI directions.
-
Kotak Mahindra Bank Down By 12% As Markets Decline In Early Trade
Equity benchmark indices declined in early trade on Thursday, giving up their gains of last four days, amid heavy selling in Kotak Mahindra Bank and foreign fund outflows.
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RBI Penalises LIC Housing Finance, IDFC First Bank Over Violation
The Reserve Bank on Friday said it has imposed a penalty of Rs 1 crore on IDFC First Bank and Rs 49.70 lakh on LIC Housing Finance for violation of certain norms.
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Financial Intelligence Unit Imposes Penalty of Over Rs. 5 Crore on Paytm Payments Bank
India's Financial Intelligence Unit (FIU) on Friday imposed a penalty of Rs. 5,49,00,000 ($662,565) on Paytm's banking arm, Paytm Payments Bank, for violations in reporting illegal money routed through its accounts, the country's finance ministry said.
-
RBI Fines State Bank Of India, Canara Bank For Regulatory Violations
The Reserve Bank of India (RBI) imposed a monetary penalty on State Bank of India and Canara Bank for regulatory violations, the central bank said in a press statement on Monday.
-
PayPal Moves Delhi High Court Against Order Holding It as ‘Payment System Operator’ Under Money Laundering Law
American online payment gateway PayPal on Wednesday moved the Delhi High Court against an order which ruled that it was a "payment system operator" under the Prevention of Money Laundering Act (PMLA) and has to thus comply with "reporting obligations" under it.
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Cyber Fraud Cases Reports Crossed Over 14,000 in 2021, MoS Informs Parliament
As many as 14,007 cyber fraud cases were registered in 2021, Parliament was informed on Monday. Quoting National Crime Records Bureau (NCRB) data, Minister of State for Finance Bhagwat Karad said "total number of cyber fraud cases which includes...frauds committed through online apps is 14,007 in 2021 (latest published data pertains to the year 20...
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Amazon Pay India Faces Penalty of Over Rs. 3.06 Crore by RBI for Non-Compliance
The Reserve Bank of India on Friday said it has imposed a penalty of over Rs. 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. "It was observed that the entity was non-compliant with the directions issued by RBI on KYC re...
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RBI Imposes Penalties On 3 Cooperative Banks Over Non-Compliance
The Reserve Bank in a statement said it has imposed penalty on three cooperatives banks for deficiencies in regulatory compliance. The three cooperative banks include, The Maharashtra State Co-operative Bank; The Nasik Merchant's Co-operative Bank;
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Google Pay Alleged to Operate Without Authorisation, Delhi High Court Asks RBI and Google to Respond
Delhi High Court on Wednesday asked the Reserve Bank of India (RBI) how Google's mobile payment app, Google Pay, was facilitating financial transactions without the requisite authorisation from it.
