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The Reserve Bank of India (RBI) has extended the deadline to 15 March 2024, after which Paytm Payments Bank Ltd is barred from accepting deposits. The last date fixed earlier was 29 February 2024. RBI also released FAQs to help customers understand the implications of its restrictions on Paytm Payments Bank.
The directorate of enforcement (ED) has launched a preliminary investigation or a pre-open inquiry into alleged violations related to the Foreign Exchange Management Act (FEMA) in the Paytm Payments Bank Ltd case, says a report. Meanwhile, citing regulatory actions, the National Highway Authority of India (NHAI) has removed Paytm Payments Bank from its list of 30 authorised banks for the FASTag service.
Enhancing the protection of insurance policyholders, the Insurance Regulatory and Development Authority of India (IRDAI) has proposed to enhance the free look period to 30 days in the case of life and health insurance policies.
Four independent directors of Binny Ltd agreed to pay Rs42.57 lakh to settle the adjudication proceedings initiated by the Securities and Exchange Board of India (SEBI) for violating SEBI regulations and failing to act independently. Those who agreed to settle the matter include justice (retd) S Jagadeesan, T Manisriram, T Radhakrishnan and Dr DVR Prakash Rao.
Balu Forge Industries Limited (BFIL) supplies precision-engineered products, crankshafts and forging components suitable for automobiles, defence, railways and new energy space.