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Reserve Bank of India (RBI) has imposed a penalty of Rs1.13 crore on four cooperative banks, including Bombay Mercantile Cooperative Bank Ltd, for non-compliance with the directions issued by the banking regulator. The highest penalty of Rs63.30 lakh has been imposed on Bombay Mercantile Cooperative Bank.
Rashi Peripheral is engaged in two business verticals -- personal computing, enterprise, cloud solutions (PES) and lifestyle and IT essentials (LIT).
Senior RBI officials on Thursday said that barring Paytm Payments Banks from accepting deposits was part of “a supervisory action and the restrictions are proportionate to the gravity of the situation.”
America’s publicly traded companies are flashing a key sign of economic uncertainty -- they’ve been hoarding cash, a media report said.
As predicted by economists, the monetary policy committee (MPC) of Reserve Bank of India (RBI) kept the repo rate unchanged at 6.50% during its February bi-monthly meeting. The marginal standing facility (MSF) rate and the bank rate will be steady at to 6.75%. RBI’s policy stance continues to be ‘withdrawal of accommodation’, with five out of six MPC members voting in its favour, governor Shaktikanta Das says. More Details Soon...