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The Reserve Bank of India has imposed monetary penalties on two payment system operators -- Paytm Payments Bank Ltd (PPBL) and Western Union Financial Services Inc (WUFSI) -- as deficiencies were found in regulatory compliance.

As this was an offence of the nature referred to in Section 26 (2) of the PSS Act, a notice was issued to PPBL

We examine equity funding and private investment into India-based entities as well as compliance and reporting obligations for foreign enterprises.

The Reserve Bank of India has imposed monetary penalties on two payment system operators -- Paytm Payments Bank Ltd (PPBL) and Western Union Financial Services Inc (WUFSI) -- as deficiencies were found in regulatory compliance.The RBI imposed a ...

India: Ujjivan SFB initiates steps to merge with holding company Ujjivan has recently sold about 12.6 million shares to 17 domestic institutional investors at Rs210 per share. Photo: Hemant Mishra/Mint July 12, 2021 Ujjivan Small Finance Bank (SFB) on Saturday said it would initiate steps for the amalgamation of the holding company Ujjivan Financial Services Ltd with the bank. The decision to merge the holding company with itself comes after the Reserve Bank of India (RBI) allowed small finance...

Banks must swear by RBI’s norms on governance × Radical reforms are also needed from the govt for a material improvement in the governance of PSBs The Reserve Bank of India (RBI) issued operative guidelines with regard to the appointments of MD and CEO, Whole Time Director, Chairperson, Non-Executive Directors and composition of important committees last month, as part of its measures to strengthen corporate governance standards in commercial banks. Further, the regulator plans to bring out...

  We wish to inform you that at the meeting of the Board of Directors of the Corporation held today i.e., May 7, 2021, the Board approved the audited financial results of the Corporation (both standalone and consolidated) for the year ended March 31, 2021, in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations).   We would like to state that the statutory auditors of the Corporation have issued au...

Loading the player... Indias smartphone industry grew 23% in Q1; Xiaomi leads, Samsung second Indias smartphone shipments grew by a robust 23 per cent in the first quarter of calendar year 2021 at over 38 million units, the latest research report by Counterpoints Market Monitor has said. This was the highest ever first quarter shipment in the country which was boosted by new product launches, promotions and financial schemes, as well as pent-up demand from last year. 30 vaccines to battle COVI...

RBI imposes ceiling of 70 years for MD, CEO of bank Top Searches RBI imposes ceiling of 70 years for MD, CEO of bank PTI / Apr 26, 2021, 19:03 IST FacebookTwitterLinkedinEMail With regard to upper age limit for MD & CEO and WTDs in the private sector banks, the RBI said that no person can continue on such positions beyond the age of 70 years. (Representative image) MUMBAI: The Reserve Bank of India (RBI) on Monday fixed the tenure of MD, CEO and whole-time director (WTD) in a private sector ba...

RBI caps bank MD, CEO tenure at 15 yrs, puts upper age limit of 70 yrs The central bank also fixed the maximum age limit for chairman and non-executive directors (NED) at 75 years. BusinessToday.In | April 26, 2021 | Updated 19:27 IST RBI said no person can continue as MD and CEO or WTD beyond the age of 70 years. The Reserve Bank of India (RBI) on Monday capped the tenure of MD, CEO and whole-time director (WTD) of private sector banks at 15 years and said the upper age limit for these posts ...