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The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs1.05 crore on Kotak Mahindra Bank and Rs1 crore on IndusInd Bank for violating the provisions of its regulations.
The central bank added that “the statutory inspection for supervisory evaluation of the banks was conducted by RBI with reference to its financial positions as on March 31, 2018 and March 31, 2019.”
At the beginning of the COVID-19 crisis, the vast majority of states across the country implemented "stay at home" orders requiring the closure of…
RBI said the aforesaid charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty, to the extent of non-compliance with such directions, , reserve bank of india, central bank of india
NFTs’ programmability supports new business and profit models. For example, creators can program an NFT’s smart contract to collect a royalty each time the NFT is resold so that a share of the transaction goes back to the original creator.