The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹20 lakh on Dhani Loans and Services Limited, Gurugram, Haryana, for non-compliance with certain provisions of the RBI (Know Your Customer) Directions, 2016. The penalty was levied under the provisions of the RBI Act, 1934. The action follows a scrutiny conducted by RBI into the company’s compliance with KYC norms. The examination revealed that Dhani Loans and Services Limited:

The Financial Action Task Force (FATF) has issued its latest public statement on high-risk jurisdictions and countries under increased monitoring. The statement calls on member countries and other jurisdictions to apply enhanced due diligence measures for certain high-risk countries while ensuring that humanitarian aid, legitimate non-profit activities, and remittances are not disrupted.

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹30,50,000 (Rupees thirty lakh fifty thousand only) on Paul Merchants Finance Private Limited for non-compliance with provisions of the Master Directions on Prepaid Payment Instruments (PPIs) dated August 27, 2021, and updated on November 12, 2021.

The Governor of the Reserve Bank of India (RBI) today launched UDGAM (Unclaimed Deposits – Gateway to Access inforMation), a centralised web portal designed to help the public search for unclaimed deposits across multiple banks from a single platform.

The portal, developed by RBI in collaboration with Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and participating banks, aims to simplify the process of identifying unclaimed deposits and enable users to either claim the amount or reactivate their accounts.

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹28 lakh on Uttar Pradesh Co-operative Bank Limited, Lucknow for non-compliance with the Know Your Customer (KYC) Directions, 2016 and RBI’s directives on “Customer Service in State / District Central Co-operative Banks (StCBs / DCCBs)”.