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"We Aren't Police...": RBI Chief Day After 4 Firms Banned From Giving Loans
Reserve Bank Governor Shaktikanta Das on Friday said that the central bank does not act like a policeman, but it maintains tight vigil on financial market and takes regulatory action whenever necessary.
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Axis Bank, HDFC Bank Fined 2.91 Crore For Deficiencies In Regulatory Compliance
The RBI said a penalty of Rs 1.91 crore has been imposed on Axis Bank for contravention of certain provisions of the Banking Regulation Act, and non-compliance with certain directions.
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Acted On Unsecured Loans To Avert Bigger Problems: RBI Governor
The Reserve Bank of India (RBI) endeavors to smell out a crisis early and act on it, Governor Shaktikanta Das said, stating that not taking any action on the unsecured lending front would have created "bigger problems".
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Paytm Payments Bank CEO Surinder Chawla Resigns
Beleaguered Paytm Payments Bank's managing director and CEO Surinder Chawla has resigned from the company, a regulatory filing said on Tuesday. Chawla's resignation comes amidst Paytm Payments Bank facing prohibitory action from banking regulator RBI.
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Paytm Gets Third-Party UPI App License From NPCI as Payments Bank Ceases Operations
Indian digital payments firm Paytm, formally known as One 97 Communications, was on Thursday granted a third-party application provider license by the country's payments authority, which will enable it to facilitate payments after its banking unit ceases operations.
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People In Queue To Exchange Rs 2,000 Notes After Last Date Quizzed At RBI
The Economic Offence Wing (EOW) of Odisha Police questioned people standing in queue to exchange Rs 2000 currency notes at the Reserve Bank of India counter here to find out whether they were acting as agents for others, an official said.
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PayPal Moves Delhi High Court Against Order Holding It as ‘Payment System Operator’ Under Money Laundering Law
American online payment gateway PayPal on Wednesday moved the Delhi High Court against an order which ruled that it was a "payment system operator" under the Prevention of Money Laundering Act (PMLA) and has to thus comply with "reporting obligations" under it.
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Existing UPI QR Codes Could Begin Processing Transactions in eRupee CBDC: RBI’s T Rabi Sankar
The RBI is considering if existing QR codes must act like a gateway for CBDC transactions. Currently, eRupee worth over Rs. 130 crore are in circulation as part of the going trials. The detail was revealed by Indian Finance Minister Nirmala Sitharaman earlier in March. By the end of June, India aims to onboard a million users to its CBDC ecosystem,...
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"Typical Of Our...": Congress' Jibe At PM Modi Over Rs 2,000 Notes Withdrawal
The Congress targeted the prime minister on Friday over the RBI announcement on the withdrawal of Rs 2,000 currency notes from circulation, saying the move was "typical of our self-styled vishwaguru" and his method of "first act, second think".
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ED Freezes WazirX Funds Worth Rs 64-Cr for 'Assisting' in Money Laundering
The Directorate of Enforcement (ED) said it had conducted searches on the premises of one of the directors of crypto exchange WazirX, and has issued an order to freeze their bank balances over Rs 60 crore. The ED has been conducting Money Laundering investigation against a number of Indian non-banking finance companies (NBFCs) and their fintech par...
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RBI Suggests Customers to Approach Local Police for Issues Related to Unregistered Digital Lending Apps
Reserve Bank Governor Shaktikanta Das has clarified that the central bank will only act against digital lending entities registered with it. Customers borrowing from unregistered digital lending apps are recommended to approach the local police in case of any issue.
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"If CBI, Enforcement Directorate Not Independent...": Court's Warning
The Bombay High Court on Thursday said the judiciary and agencies like the RBI, CBI and ED should act independently, and asked "what heavens are going to fall" if an interim protection from coercive action is granted for a few days to NCP leader Eknath Khadse in an alleged land grab case of 2016.
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Parliament Passes Bill To Bring Cooperative Banks Under RBI's Supervision
Parliament today passed amendments to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI, a move aimed at protecting the interest of depositors.
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Lok Sabha Passes Bill To Bring Cooperative Banks Under RBI Supervision
In a bid to protect the interest of depositors, the Lok Sabha on Wednesday passed an amendment to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI.
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Centre Designates 44 Nodal Officers To Crack Down On Terror Funding
The Home Ministry has designated 44 senior officers from the central, state and Union Territory governments, apart from entities like the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI), to serve as nodal authority for seizure of funds and other financial assets held by anyone engaged in or supporting terrorism.
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"We Aren't Police...": RBI Chief Day After 4 Firms Banned From Giving Loans
Reserve Bank Governor Shaktikanta Das on Friday said that the central bank does not act like a policeman, but it maintains tight vigil on financial market and takes regulatory action whenever necessary.
-
Axis Bank, HDFC Bank Fined 2.91 Crore For Deficiencies In Regulatory Compliance
The RBI said a penalty of Rs 1.91 crore has been imposed on Axis Bank for contravention of certain provisions of the Banking Regulation Act, and non-compliance with certain directions.
-
Acted On Unsecured Loans To Avert Bigger Problems: RBI Governor
The Reserve Bank of India (RBI) endeavors to smell out a crisis early and act on it, Governor Shaktikanta Das said, stating that not taking any action on the unsecured lending front would have created "bigger problems".
-
Paytm Payments Bank CEO Surinder Chawla Resigns
Beleaguered Paytm Payments Bank's managing director and CEO Surinder Chawla has resigned from the company, a regulatory filing said on Tuesday. Chawla's resignation comes amidst Paytm Payments Bank facing prohibitory action from banking regulator RBI.
-
Paytm Gets Third-Party UPI App License From NPCI as Payments Bank Ceases Operations
Indian digital payments firm Paytm, formally known as One 97 Communications, was on Thursday granted a third-party application provider license by the country's payments authority, which will enable it to facilitate payments after its banking unit ceases operations.
-
People In Queue To Exchange Rs 2,000 Notes After Last Date Quizzed At RBI
The Economic Offence Wing (EOW) of Odisha Police questioned people standing in queue to exchange Rs 2000 currency notes at the Reserve Bank of India counter here to find out whether they were acting as agents for others, an official said.
-
PayPal Moves Delhi High Court Against Order Holding It as ‘Payment System Operator’ Under Money Laundering Law
American online payment gateway PayPal on Wednesday moved the Delhi High Court against an order which ruled that it was a "payment system operator" under the Prevention of Money Laundering Act (PMLA) and has to thus comply with "reporting obligations" under it.
-
Existing UPI QR Codes Could Begin Processing Transactions in eRupee CBDC: RBI’s T Rabi Sankar
The RBI is considering if existing QR codes must act like a gateway for CBDC transactions. Currently, eRupee worth over Rs. 130 crore are in circulation as part of the going trials. The detail was revealed by Indian Finance Minister Nirmala Sitharaman earlier in March. By the end of June, India aims to onboard a million users to its CBDC ecosystem,...
-
"Typical Of Our...": Congress' Jibe At PM Modi Over Rs 2,000 Notes Withdrawal
The Congress targeted the prime minister on Friday over the RBI announcement on the withdrawal of Rs 2,000 currency notes from circulation, saying the move was "typical of our self-styled vishwaguru" and his method of "first act, second think".
-
ED Freezes WazirX Funds Worth Rs 64-Cr for 'Assisting' in Money Laundering
The Directorate of Enforcement (ED) said it had conducted searches on the premises of one of the directors of crypto exchange WazirX, and has issued an order to freeze their bank balances over Rs 60 crore. The ED has been conducting Money Laundering investigation against a number of Indian non-banking finance companies (NBFCs) and their fintech par...
-
RBI Suggests Customers to Approach Local Police for Issues Related to Unregistered Digital Lending Apps
Reserve Bank Governor Shaktikanta Das has clarified that the central bank will only act against digital lending entities registered with it. Customers borrowing from unregistered digital lending apps are recommended to approach the local police in case of any issue.
-
"If CBI, Enforcement Directorate Not Independent...": Court's Warning
The Bombay High Court on Thursday said the judiciary and agencies like the RBI, CBI and ED should act independently, and asked "what heavens are going to fall" if an interim protection from coercive action is granted for a few days to NCP leader Eknath Khadse in an alleged land grab case of 2016.
-
Parliament Passes Bill To Bring Cooperative Banks Under RBI's Supervision
Parliament today passed amendments to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI, a move aimed at protecting the interest of depositors.
-
Lok Sabha Passes Bill To Bring Cooperative Banks Under RBI Supervision
In a bid to protect the interest of depositors, the Lok Sabha on Wednesday passed an amendment to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI.
-
Centre Designates 44 Nodal Officers To Crack Down On Terror Funding
The Home Ministry has designated 44 senior officers from the central, state and Union Territory governments, apart from entities like the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI), to serve as nodal authority for seizure of funds and other financial assets held by anyone engaged in or supporting terrorism.
