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BHIM promotional cashbacks & incentives – Government of India has decided to launch the promotional cashback’s & incentives for using Bharat Interface for Mobile (BHIM). BHIM is competing with other players in the market like Paytm, Google Tez , PhonePe etc. Government is launching the BHIM cashback offers on April 14, the birth anniversary of Babasaheb Ambedkar. […]
RBI has imposed a penalty of Rs 3 crore on IDBI bank for non-compliance to the Income Recognition and Asset Classification (IRAC) norms. RBI has informed the bank vide its letter dated April 10, 2018, a monetary penalty of Rs 30 million on the Bank in exercise of the powers…for non compliance with the directions issued […]
If we may believe on a report by brokerage firm Nomura Financial Advisory Services, the time is ripe for Kotak Mahindra Bank to buy Axis Bank. Bank could be a potential acquisition target after its board accepted managing director Shikha Sharma’s plea to cut her fourth three-year term to seven months under RBI pressure. Shikha Sharma, who […]
State Bank of India (SBI) chairman Mr. Rajneesh Kumar has batted for the privatization of some of the state running Public Sector Banks. Although he raised the concern on the timing. He said that the time, though, is not right at present, because these banks would need time to be strengthened and one has to […]
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 […]
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