RBI bans LoUs and LoCs issuance by Banks
Post Punjab National Bank (PNB) Fraud the Reserve Bank of India (RBI) has banned the use of letters of undertaking (LoUs) and letters of comfort (LoCs). RBI
Public Sector Banks To Publish Wilful Defaulters Photo on Websites
The finance ministry under Enhanced Access and Service Excellence (EASE) programme has directed all state-run banks to publish the names and photographs of all wilful
Aadhaar is Not Mandatory For Linking Bank Accounts
Aadhaar not mandatory for opening bank accounts or linking with mobile SIM registration or other related services which includes issuance of tatkal passport services. However,
Aadhaar is Mandatory in these Social Security Schemes
Supreme court of India has extended the validity of linking Aadhaar with Bank accounts & other services to indefinitely. Meanwhile the apex court has also
RBI Starts Audit of Public Sector Banks For LoU’s & Trade Finance Activities
Post Punjab National Bank Fraud – Reserve Bank of India (RBI) has started the auditing of all the public sector banks for issuance of LoU’s
₹5 crore penalty on Airtel Payments Bank By RBI
Reserve Bank of India (RBI) has imposed Rs 5 crore penalty on Airtel Payments Bank for non violation of Know Your Customer (KYC) norms. Earlier
Aadhaar linkage Last Date 31st March May be Extended
The last date for linking Aadhaar number with all the investments including bank account may be extended beyond 31st March 2018. The central government has
Five Probable PSBs For RBI’s Prompt Corrective Action Plan (PCA)
ICRA report on probable PSB’s under PCA – Recall of Rs 157-bn AT-1 bonds may lead five Public Sector Banks under Reserve Bank of India’s
Comments