RBI Fines Top Banks For Failing KYC Norms
If you haven’t complied with KYC requirements attached to your bank account, your bank may have just suffered the consequences. In a serious move, the Reserve Bank of India (RBI) has cracked the whip on some of the top banks…
Reserve Bank of India to tighten debt restructuring norms
The loan account monitoring will have to be more vigilant in monitoring a loan account while corporate will have to think twice before restructuring the loan with the Reserve Bank of India. The Reserve Bank of India is now planning…
Reserve Bank Of India slaps fine on Karad Urban Cooperative Bank Ltd
A penalty of Rs. 5 lakh has been imposed by the Reserve Bank Of India (RBI) on Maharashtra based Karad Urban Co-operative Bank for violating guidelines. The penalty has been imposed for shifting of branch without the regulator’s prior approval….
RBI asks banks to develop cost effective village banking
The banks have been asked by the Reserve Bank Of India (RBI) to develop cost effective village branch model. The RBI has asked to create a village model so as to promote the financial inclusion. D Subbarao, the RBI governor…
RBI cuts transaction fee for online purchases through debit cards
In some good news for the regular online purchasers, the Reserve Bank Of India (RBI) has reduced the transaction charges made online through the debit and credit cards to a maximum of 1%. The reduction was announced while addressing the…