The Reserve Bank has imposed a penalty of Rs 79 lakh on Apna Sahakari Bank, Mumbai for non-compliance with certain directions, including on NPA classification
Addressing AIMA National Management Convention, Das underlined the need for increased investment in healthcare education, digital and physical infrastructure to ensure sustainable growth and generate employment opportunities.
The RBI on Tuesday extended the device-based tokenisation to card-on-file tokenisation (CoFT) services, a move that will bar the merchants from storing actual card data.
Notably, there are 13 bank holidays listed but as Ganesh Chaturthi overlaps with second Saturday, it is counted as one holiday. Also, 11 September’s leave overlaps with the second Saturday.
In both cases, the RBI said, the penalty is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers.
RBI's revised guidelines mean that every time customers buy online or renew subscriptions, the details will have to be typed afresh.
If the Reserve Bank of India (RBI) revises the guidelines from January 2022, then the customers with debit cards and credit cards will need to punch in their 16-digit card number every time they proceed to make a transaction.
As per the RBI calendar, banks will remain shut from today, i.e. Thursday (August 19) to next Monday (August 23) as August marks the beginning of the festive season.
Bank Locker New Guidelines: The revised instructions will be applicable to both new and existing safe deposit lockers and the safe custody of articles facility with the banks.
The Reserve Bank of India had issued orders in December and February to HDFC Bank on certain incidents of outages in the internet banking /mobile banking/payment utilities of the bank over the past two years.
The reason cited the absence of adequate capital and being unable to pay its present depositors in full. The bank ceased to carry on banking business with effect from the close of business on Friday.
RBI said it conducted a statutory Inspection for Supervisory Evaluation (ISE) of the bank with reference to the bank's financial position as on March 31, 2020.
Banks will have to submit a system generated statement on downtime of ATMs due to non-replenishment of cash to the RBI.
RBI JE exam was held on March 8. Check result at rbi.org.in
The career bureaucrat-turned-central banker also welcomed the govt's approach to the pandemic-triggered crisis as a prudent and calibrated one.
RBI Monetary Policy Review: RBI keeps interest rates unchanged at 4 per cent.
The restrictions were put in place because of mastercard's failure to comply with local data storage norms that require payment companies to store data related to Indian customers only in the country
In April, RBI had said that it would encourage participation of non-banks in Reserve Bank of India-operated Centralised Payment Systems (CPS) -- RTGS and NEFT systems -- in a phased manner.
The RBI said the statutory inspections for supervisory evaluation (ISE) of the bank were conducted with reference to its financial position as on March 31, 2017, (ISE 2017), March 31, 2018, (ISE 2018), and March 31, 2019 (ISE 2019).
According to the RBI Act, the government nominates 10 eminent persons from various fields to the central board of the RBI, besides four directors (one from each of the four local boards)
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