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Latest Banking News & Financial updates from around the web. Daily updates on Global Banking News, Financial Markets, Economy and News from the different banks.
The Financial Intelligence Unit (FIU) has slapped Rs 9 crore penalty on Bank of Baroda for not adhering the anti-money laundering norms in the old case related to non reporting of suspicious transactions linked to the Rs 6,000 crore scam in its Delhi-based branch. Maximum penalty of Rs 1 lakh, as per Prevention of Money […]
Reserve Bank of India (RBI) has held the bonuses to the heads of top private banks i.e. Axis Bank, HDFC Bank & ICICI Bank on the size of the payouts citing the lenders’ performance issues for the financial year ended March 31, 2017. ET reported the news. ICICI’s board had approved a bonus of Rs 2.2 crore […]
The Supreme court held that top officers of private banks could be treated on par with public servants under the Prevention of Corruption Act, 1988. The top court has commented on the recent hearing related to an alleged nexus between VideoconNSE 2.17 % Group chairman Venugopal Dhoot and Deepak Kochhar, the husband of ICICI Bank […]
Jio Payment Banks begin operations in India – The Reserve Bank of India (RBI) has informed that the Jio Payments Bank has commenced its banking services from Tuesday dated 03-04-2018. Payments banks are concept being promoted by the Reserve Bank of India (RBI) to further financial inclusion by giving services such as small scale savings […]
The Central Bureau of Investigation (CBI) filed charges against former chairman and managing director R K Dubey over allegations of providing about Rs 68 crore loan to Delhi-based jewellery company, Occasion Silver Pvt Ltd, which fell under Quick Mortality Assets and turn bad within a year of the bank giving it the loan. Charges were […]
CGTMSE Coverage extended to Retail Trade & Collateral Loans also – Now Retail Trades & partial collateral loans may be covered under Credit Guarantee Scheme of CGTMSE. A decision in this regard taken under “Rebooting CGTMSE” organized by Ministry of MSME and CGTMSE on February 20, 2018. Following modifications were recommended for implementation : Charging Annual […]
The Payment of Gratuity Amendment Bill and The Specific Relief Amendment Bill passes in Lok Sabha under chaos. The Gratuity bill be now placed in Rajya Sabha for approval. Passing of Gratuity bill will enable the Central government to provide tax-free gratuity of Rs 20 lakh to the organised sector workers including Public Sector Bank […]
Post PNB Fraud, a lot of fuss for privatizing PSB’s by many industrialists, CEO’s of various companies, bureaucrats; it times for RBI governor to veil pitch for Public Sector Bank’s privatization. He said that [box type=”info” align=”aligncenter” ]The government should decide what to do with public sector banks (PSBs) if it wanted to optimize the use […]
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