RBI Bank Suggested stronger corporate governance in core investment companies

The panel which has been set up by the Reserve bank of India has recently suggested that the core investment companies need stronger corporate governance practices, which includes the formation of the board-level committees, internal audits and the appointment of the independent directors. These recommendations were submitted by the WG (working group) to Review the … Read more RBI Bank Suggested stronger corporate governance in core investment companies

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RBI penalized Mehsana’s Gujarat Based Urban Co-operative bank

RBI has recently penalised the Gujarat Based Mehsana Urban Co-operative Bank for contravention of norms on ‘loans and advances to directors, relatives and firms/concerns in which they are interested’. It said that the penalty was imposed through an order. The central bank, after the statutory inspection on March 2018 said that the penalty was “for … Read more RBI penalized Mehsana’s Gujarat Based Urban Co-operative bank

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RBI Asked Banks to investigate the report on leaked debit and credit card information

The Reserve Bank of India (RBI) has issued a notice for the banks asking them to investigate the reports that shows that 1.3 million accounts of the debit and credit card customers were online on sale and to ensure that these details are safe. As per the news by ZDNet, RBI has also said that … Read more RBI Asked Banks to investigate the report on leaked debit and credit card information

RBI rejected proposal of merger of Lakshmi Vilas Bank with Indiabulls housing finance

Laskshmi Vilas bank announced that the Central bank has not given any approval on its mereger with Indiabulls finance limited. The Lakshmi Vilas Bank (LVB) said in a stock exchange filing, “This is to inform that RBI vide their letter dated October 09, 2019, informed that the application for voluntary amalgamation of lndiabulls Housing Finance … Read more RBI rejected proposal of merger of Lakshmi Vilas Bank with Indiabulls housing finance

RBI increased the Withdrawal Limit for the PMC Customers

For the relief of the crisis-hit Punjab & Maharashtra Cooperative (PMC) Bank customers, the Reserve Bank of India has now increased withdrawal limit from Rs 1,000 to Rs 10,000. “Other terms and conditions of the said Directive shall remain unchanged. With the above relaxation, more than 60% of the depositors of the Bank will be … Read more RBI increased the Withdrawal Limit for the PMC Customers