The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹4.00 lakh on Smriti Nagrik Sahakari Bank Maryadit, Mandsaur, for non-compliance with RBI directions on Exposure Norms, Statutory/Other Restrictions on Urban Cooperative Banks (UCBs), and Know Your Customer (KYC) requirements.
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹9.60 lakh on Nuvama Wealth Finance Limited (formerly known as Edelweiss Finance and Investments Limited) for non-compliance with the RBI (Know Your Customer (KYC)) Directions, 2016.
The Governor of the Reserve Bank of India (RBI) today launched the Mission “Har Payment Digital” as part of the Digital Payments Awareness Week (DPAW) 2023, observed from March 6 to 12, 2023. The initiative aims to make every citizen in India a user of digital payments. The theme for this year’s campaign is “Digital Payment Apnao, Auron ko bhi Sikhao” (Adopt digital payments and also teach others).
The Reserve Bank of India (RBI) has extended the period of Directions issued under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) on Nagar Urban Co-operative Bank Ltd., Ahmednagar.
Originally, the Directions were imposed from the close of business on December 6, 2021 for a period of six months. The validity of these Directions had been extended multiple times, the last extension being up to March 6, 2023.
The Reserve Bank of India (RBI) has issued directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Musiri Urban Co-operative Bank Ltd., Musiri, effective from the close of business on March 3, 2023.