Reserve Bank of India (RBI) issued preliminary regulations proposing to prohibit the capitalisation of penal charges and additional interest levied by banks on customers for loan defaults, in an effort to standardise different lending practises.
Under the amended MV Act, the violation of PUC norm now invites a penalty of Rs 10,000. Earlier, it was Rs 1,000 on first violation and Rs 2,000 for next offence.
"A penalty of Rs 5 lakh is imposed jointly and severally" on Vital Communications Ltd (VCL) by Sebi for failing to provide information on allotment of shares and there by violating Sebi norms.
The raging issue whether to make forced marital intercourse and sexual acts part of offence of rape in penal law has been extensively debated and now it cannot be considered as a criminal act, the Supreme Court today said
Bangalore, August 10: The Karnataka high court on Tuesday observed that banks recovering penal charges from customers not maintaining minimum balance in their accounts might have to pay back the amount with penal interest once
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