The Reserve Bank of India (RBI) on Friday imposed a penalty of Rs 25 lakh on Punjab and Sind Bank for non-compliance with certain provisions of directions on 'Cyber Security Framework in Banks'.
RBI JE Result 2021: The Reserve Bank of India (RBI) has released the results of RBI JE recruitment exam 2021. Candidates who have appeared for the RBI Junior Engineer examination can check their result on the official website-- rbi.org.in.
The RBI said the penalties have been imposed due to deficiencies in regulatory compliance, and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
The latest directive comes against the backdrop of some banks and regulated entities citing the circular and cautioning customers against dealing in virtual currencies.
As the severe Covid crisis and the resultant lockdowns have shut down economic activities to a great extent, the monthly RBI Bulletin has said that demand and employment have been among the most impacted economic aspects amid the second Covid wave.
The Reserve Bank of India has appointed Jose J Kattoor as Executive Director (ED), the central bank said in a statement on Monday.
The penalty has been imposed for non-compliance with certain provisions, including Know Your Customer (KYC) directions.
The Reserve Bank has decided to review and strengthen the Risk Based Supervision (RBS) of the banking sector with a view to enable financial sector players to address the emerging challenges.
The penalty has been imposed for non-compliance with regulatory directions issued by NABARD contained in 'Review of Frauds - Guidelines on Monitoring and Reporting System', the Reserve Bank of India said on Tuesday.
In a major reform step, the Reserve Bank of India (RBI) has capped the tenure of bank MD and CEOs with immediate effect.
Among other things, the respondents will be asked whether the merger was positive from the point of customer services.
The RBI on Friday said the existing interim Ways and Means Advances (WMA) limit of Rs 51,560 crore for all states and Union Territories will continue up to September 30, 2021, as the effect of the COVID-19 pandemic is still prevalent.
RBI Governor Shaktikanta Das-headed rate-setting panel MPC started its three-day deliberation on the next monetary policy on Monday amid sudden surge in COVID-19 cases and the government's recent mandate asking the central bank to keep retail inflation around 4 per cent.
Banks will conduct special clearing operations for annual closure of government accounts on March 31, which is the last day of the current fiscal year, the RBI has said.
As per RBI's website, bank holidays in April include various festivals like Ram Navmi, Good Friday, Bihu, Babu Jagjivan Ram’s Birthday. Tamil New Year etc.
The Reserve Bank on Monday asked banks to implement the image-based Cheque Truncation System (CTS) in all branches by September 30, a move aimed at faster settlement of cheques resulting in better customer service.
Experts are of the view that the RBI will refrain from tinkering with the interest rates and keep the monetary stance accommodative at the policy review though it will take guidance from the budget to be unveiled by Finance Minister Nirmala Sitharaman in the Lok Sabha on February 1.
In October, the RBI had projected the contraction in gross domestic product (GDP) at 9.5 per cent.
HDFC Bank said the RBI order “has advised the bank to temporarily stop all launches of the digital business-generating activities planned under its program Digital 2.0 and other proposed business generating IT applications and sourcing of new credit card customers.”
Absconding godman Nithyananda now aims to follow up on his 'Reserve Bank of Kailaasa' with a Hindu parliament in the next six months, he said on Sunday.
Top News
Latest News
