Page 18 - Master Directions News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Some of the well-known urban cooperative banks in the country were penalized by the RBI recently for flouting its statutory

Reserve Bank of India (RBI) on Monday said penalties have been imposed on eight cooperative banks for deficiencies in their regulatory compliances. A penalty of Rs 4 lakh has been imposed on The Associate Co-operative Bank Ltd, Surat (Gujarat) for contravention of directions on 'Loans and advances to directors, relatives and firms/concerns in which they are interested', and

Interoperability of digital wallets would increase penetration of digital payments ​ By IANS | ​ 0 Views Social media FOMO actively hurts job performance: Study. Image Source: IANS News New Delhi, May 20 : With RBI making mobile wallet interoperability mandatory from FY23, the non-bank (prepaid payment instruments) PPI issuers or the digital wallets has been brought at par with traditional bank accounts in terms of services offered with the move enabling much wider usage and penetration of digital payments in the country, experts have opined. "The RBI has made four key changes that will...

RBI imposes ₹1 cr penalty each on CUB and TMB May 20, 2021 The Central Bank’s action is based on the deficiencies in regulatory compliance. The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1 crore each on City Union Bank (CUB) and Tamilnad Mercantile Bank (TMB). In the case of CUB, the RBI, in a statement, said the penalty has been imposed for contravention of/ non-compliance with certain provisions of the Reserve Bank of India (Lending to Micro, Small & Medium Enterprises Sector) Directions, 2017 and the circulars on Educational Loan Scheme and Credit Flow to Agric...

Mehsana Urban Co-op Bank in news; Central Registrar orders Arbitration Chairman & some Directors are alleged to have misappropriated funds Amidst news of irregularities in one of the leading UCBs of Gujarat, Mehsana Urban Cooperative Bank, the Central Registrar of Cooperative Societies Vivek Aggarwal has appointed Vipal Ganda, Advocate as an Arbitrator to resolve the issues. Arbitrator Vipal Ganda has been asked to submit his report to the office of the Central Registrar within 90 days. The cases, among others, relate to misappropriation of funds by the Chairman and some of the Directors of M...