Mumbai:The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹17,63,965 on Manappuram Finance Limited for non-compliance with certain provisions of the Master Direction on Issuance and Operation of Prepaid Payment Instruments (PPIs) dated October 11, 2017 (updated February 28, 2020) and the Master Direction – Know Your Customer (KYC) dated February 25, 2016 (updated April 20, 2020).

Mumbai: The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹90 lakh on IDBI Bank Limited for non-compliance with RBI directions on “Frauds – Classification and Reporting by Commercial Banks and Select FIs”, “Strengthening the Controls of Payment Ecosystem between Sponsor Banks and SCBs/UCBs as a Corporate Customer”, and the “Cyber Security Framework in Banks”. The penalty has been issued under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.

Mumbai: The Reserve Bank of India (RBI) has released comprehensive guidelines for the Establishment of Digital Banking Units (DBUs), marking a significant step toward expanding digital banking infrastructure nationwide. The move follows the Union Budget 2022–23 announcement to set up 75 DBUs in 75 districts as part of the Azadi Ka Amrit Mahotsav celebrations commemorating 75 years of India’s independence.

The Reserve Bank of India (RBI) has announced the launch of a comprehensive Framework for Geo-Tagging of Payment System Touch Points, aimed at strengthening digital payments infrastructure across the country. The initiative was outlined in the Statement on Developmental and Regulatory Policies accompanying the bi-monthly Monetary Policy Statement 2021–22.

The Minister of State in Prime Minister’s office, Dr. Jitendra Singh today informed Lok Sabha that the Government is aware of the growing challenges of cyber security breaches in nuclear facilities across the world. In a written reply, he said, "Indian nuclear establishment have set rigorous procedure for design, development and operation of the systems used in its installations.