Reserve Bank Of India Rbi Provisions
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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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Government Imposes Anti-Money Laundering Provisions on Crypto Sector in India: Details
The Finance Ministry on Tuesday announced that it was applying anti-money laundering legislation to crypto trading, safekeeping and related financial services. The government has already levied more stringent tax rules on the crypto sector, including applying a levy on trading in 2022.
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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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Amazon Pay Fined Rs 3.06 Crore For Non-Compliance With Norms
The Reserve Bank of India todaysaid 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.
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RBI's Inflation Mandate Failure Report Cannot Be Made Public, Government Tells Parliament
The government on Monday told Parliament that the Reserve Bank of India (RBI) had submitted its report on the breach of the inflation target for three consecutive quarters, but it cannot be made public per the provisions of the RBI Act.
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Central Bank Digital Currency Transactions to Remain Anonymous 'To a Certain Degree': RBI
Central bank digital currencies (CBDC) transactions would remain anonymous to a certain degree, Reserve Bank of India Deputy Governor T Rabi Sankar said on Wednesday. The IT department allows cash transactions up to a certain limit to be carried out without government ID proof, but the RBI is yet to clarified the degree to which CBDC transactions w...
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RBI Imposes Fines Worth Rs 73 Crore In 30 Months, But No Details On Violations: Report
The Reserve Bank of India (RBI) has imposed fines to the tune of Rs 73.06 crore in 48 cases involving banks for violating certain provisions or contravention of its directions since January 2020.
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RBI Mulling To Adopt "Expected Loss" Approach For Loan Provisioning
Governor Shaktikanta Das on Friday said the Reserve Bank is mulling to adopt the "expected loss" approach for loan provisioning.
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RBI Imposes Monetary Penalty On RBL Bank For Non-Compliance
The Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 2 crore on RBL Bank. The penalty is "for contravention of section 28 (h) of the RBI (Interest Rate on Deposits) Directions, 2016 and for non-compliance with the provisions of clause (b) of sub-section (2) of section 10A of the Banking Regulation Act, 1949 (the Act)," the cen...
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RBI Imposes Rs 25 Lakh Penalty On Axis Bank For Violating Certain Norms
RBI imposed a monetary penalty of Rs 25 lakh on Axis Bank as it failed to comply with certain provisions of Know Your Customer (KYC) norms.
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RBI Cancels Licence Of Dr Shivajirao Patil Nilangekar Urban Co-operative Bank
RBI said Dr Shivajirao Patil Nilangekar Urban Co-operative Bank does not have adequate capital and earning prospects, and does not comply with the provisions of the Banking Regulation Act, 1949.
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Reserve Bank Of India Imposes Penalty Of Rs 10 Crore On HDFC Bank
The Reserve Bank of India (RBI) on Friday, May 28, imposed a monetary penalty of Rs 10 crore on HDFC Bank for violation of provisions under various sections of the Banking Regulation Act
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Top Court Seeks Centre's Reply On Appointing WhatApp 'Grievance Officer'
The Supreme Court today asked the Centre to file its reply on a plea alleging that WhatsApp does not comply with the Indian laws, including the provision for appointing a grievance officer.
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RBI Permits Banks To Spread Q1 Bond Loss Provision Over One Year
RBI eased the provisioning norms for bond losses incurred by the banks by allowing them to stagger the mark-to-market losses over four quarters
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RBI Defers New Accounting Standard Until Next Year
The announcement is a relief to investors who had feared that under the new rules, banks' loan-loss provisions would shoot up
-
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'.
-
Government Imposes Anti-Money Laundering Provisions on Crypto Sector in India: Details
The Finance Ministry on Tuesday announced that it was applying anti-money laundering legislation to crypto trading, safekeeping and related financial services. The government has already levied more stringent tax rules on the crypto sector, including applying a levy on trading in 2022.
-
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...
-
Amazon Pay Fined Rs 3.06 Crore For Non-Compliance With Norms
The Reserve Bank of India todaysaid 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.
-
RBI's Inflation Mandate Failure Report Cannot Be Made Public, Government Tells Parliament
The government on Monday told Parliament that the Reserve Bank of India (RBI) had submitted its report on the breach of the inflation target for three consecutive quarters, but it cannot be made public per the provisions of the RBI Act.
-
Central Bank Digital Currency Transactions to Remain Anonymous 'To a Certain Degree': RBI
Central bank digital currencies (CBDC) transactions would remain anonymous to a certain degree, Reserve Bank of India Deputy Governor T Rabi Sankar said on Wednesday. The IT department allows cash transactions up to a certain limit to be carried out without government ID proof, but the RBI is yet to clarified the degree to which CBDC transactions w...
-
RBI Imposes Fines Worth Rs 73 Crore In 30 Months, But No Details On Violations: Report
The Reserve Bank of India (RBI) has imposed fines to the tune of Rs 73.06 crore in 48 cases involving banks for violating certain provisions or contravention of its directions since January 2020.
-
RBI Mulling To Adopt "Expected Loss" Approach For Loan Provisioning
Governor Shaktikanta Das on Friday said the Reserve Bank is mulling to adopt the "expected loss" approach for loan provisioning.
-
RBI Imposes Monetary Penalty On RBL Bank For Non-Compliance
The Reserve Bank of India (RBI) on Monday imposed a monetary penalty of Rs 2 crore on RBL Bank. The penalty is "for contravention of section 28 (h) of the RBI (Interest Rate on Deposits) Directions, 2016 and for non-compliance with the provisions of clause (b) of sub-section (2) of section 10A of the Banking Regulation Act, 1949 (the Act)," the cen...
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RBI Imposes Rs 25 Lakh Penalty On Axis Bank For Violating Certain Norms
RBI imposed a monetary penalty of Rs 25 lakh on Axis Bank as it failed to comply with certain provisions of Know Your Customer (KYC) norms.
-
RBI Cancels Licence Of Dr Shivajirao Patil Nilangekar Urban Co-operative Bank
RBI said Dr Shivajirao Patil Nilangekar Urban Co-operative Bank does not have adequate capital and earning prospects, and does not comply with the provisions of the Banking Regulation Act, 1949.
-
Reserve Bank Of India Imposes Penalty Of Rs 10 Crore On HDFC Bank
The Reserve Bank of India (RBI) on Friday, May 28, imposed a monetary penalty of Rs 10 crore on HDFC Bank for violation of provisions under various sections of the Banking Regulation Act
-
Top Court Seeks Centre's Reply On Appointing WhatApp 'Grievance Officer'
The Supreme Court today asked the Centre to file its reply on a plea alleging that WhatsApp does not comply with the Indian laws, including the provision for appointing a grievance officer.
-
RBI Permits Banks To Spread Q1 Bond Loss Provision Over One Year
RBI eased the provisioning norms for bond losses incurred by the banks by allowing them to stagger the mark-to-market losses over four quarters
-
RBI Defers New Accounting Standard Until Next Year
The announcement is a relief to investors who had feared that under the new rules, banks' loan-loss provisions would shoot up
