Page 12 - Master Circular News Today

RBI fines ICICI Bank with Rs 3 crore for breach of certain directions ICICI Bank Reserve Bank of India (RBI) imposed a monetary penalty of Rs 3 crore on private lender ICICI Bank. This fine was imposed for violation of certain directions issued by RBI on ‘prudential norms for classification, valuation and operation of investment portfolio by banks’ The regulator stated, "This penalty has been imposed in exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read...

Source: Highlights Giving details, the RBI said an examination of correspondence in the matter of shifting of securities from one category to another revealed, inter alia, contravention of the directions. A notice was issued to ICICI Bank advising it to show cause as to why penalty should not be imposed on it for failure to comply with the directions issued by the RBI. A penalty of Rs 3 crore has been imposed on ICICI Bank Ltd for contravention of certain directions, the Reserve Bank of India s...

URL copied Image Source : FILE PHOTO A notice was issued to ICICI Bank advising it to show-cause as to why penalty should not be imposed on it for failure to comply with the directions issued by the RBI. A penalty of Rs 3 crore has been imposed on ICICI Bank Ltd for contravention of certain directions, the Reserve Bank of India said on Monday. The RBI has imposed a monetary penalty of Rs 3 crore on ICICI Bank for "contravention of certain directions issued by ...

RBI imposes ₹3 crore penalty on ICICI Bank May 03, 2021 This is for not shifting securities from one category to another The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹3 crore on ICICI Bank for non-compliance with its directions in the matter of shifting of securities from one category to another. The central bank, in a statement, said the monetary penalty has been imposed on the Bank for contravention of certain directions contained in its Master Circular on ‘Pruden...

CBIC clarifies on GST refunds related to deemed export, zero-rated supplies March 12, 2021 × The Central Board of Indirect Taxes and Customs (CBIC) has come out with a clarification on GST refunds related to deemed export supply and zero-rated supply. The board said that representations have been received on the difficulties being faced by the recipients of the deemed export supplies in claiming refund of tax paid in respect of such supplies since the system is not allowing them to file refun...

The RBI on Wednesday said it has imposed a Rs 55 lakh penalty on Pune-based Seva Vikas Cooperative Bank Limited for non-compliance with certain directions, including for not ensuring end-use of funds lent. The penalty, it said, has been imposed for non-compliance with certain directions in the Master Circular - Management of Advances -UCBs and Master Circular - Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs. "The penalty has been imposed on the bank.....

HC stays bank account as fraud Updated: Updated: ‘CBI, ED can carry on with their probe’ Share Article ‘CBI, ED can carry on with their probe’ The Telangana High Court on Friday passed an interim direction staying declaration of M/s Coastal Projects Limited’s bank account as fraud by the Reserve Bank of India and other banks. A bench of Chief Justice Hima Kohli and Justice B. Vijaysen Reddy passed this order after hearing a writ petition filed by Sabbineni Surendra of the company. Whi...

SEBI compiles scheme of arrangements regulations into master circular The regulator noted that in case of any inconsistency between the Master Circular and the applicable circulars, the content of the relevant circular shall take precedence BusinessToday.In | December 22, 2020 | Updated 21:38 IST Market regulator Securities and Exchange Board of India (SEBI) has issued a master circular for listed companies, which includes the detailed requirements to be complied by such entities while underta...

HC sets aside JLF call over fraud account Updated: Updated: Share Article The Telangana High Court in Hyderabad.   | Photo Credit: Nagara Gopal The Telangana High Court had set aside a decision of the Joint Lenders Forum (JLF), a group of banks, declaring the bank account of a company called M/s B.S. Limited as fraud. Pronouncing its verdict in a writ petition filed by the company’s former chairman Rajesh Agarwal, a division bench of Chief Justice Raghvendra Singh Chauhan and Justice B. Vi...