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The RBI has given approval to LIC to increase its holding in the bank up to 9.99 per cent. Currently, LIC owns 4.96 per cent stake in Kotak Mahindra Bank.
Investegate announcements from Federal Bank Ltd The, Half-year Report
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.
Additionally, the RBI imposed a penalty of approx Rs 27.8 lakhs on Western Union Financial Services (WUFSI) for non-compliance with provision laid out in the Master Direction on Money Transfer Service Scheme (MTSS Directions) dated February 22, 2017.
The Reserve Bank of India (RBI) has slapped a penalty of Rs 1 crore on Paytm Payments Bank Limited (PPBL).