New Delhi: The Telecom Regulatory Authority of India (TRAI) has cautioned banks and financial institutions against use of unregistered Telemarketers for promoting their business in violation of provisions of “The Telecom Commercial Communications Customer Preference (Thirteenth Amendment) Regulations, 2010”. The Authority said here today that despite actions taken by it, it continues to receive a large number of complaints from consumers against banks, insurance companies, builders, etc. for making calls/ SMSs organized through unregistered telemarketers.

Mumbai : The Reserve Bank of India has imposed monetary penalty on 22 banks for violation of its instructions, among other things, on Know Your Customer/Anti Money Laundering.

New Delhi : Kapil Sibal, Union Minister for Communications and IT released the National Cyber Security Policy, here today. Speaking on the occasion, he underlined that this policy should be seen as about protecting of information, such as personal information, financial/banking information, sovereign data etc. He said that information empowers, and in order to empower people with information, we need to secure the information/data. He also flagged the need to distinguish between data which can freely flow and data which needs to be protected.

Axis Bank was fined 5 crore rupees, HDFC Bank 4.5 crore and ICICI Bank, the country's second-largest lender, 1 crore rupees.

The penalties have been imposed in exercise of powers vested in the Reserve Bank under the provisions of Section 47(A)(1)( c ) read with Section 46(4)(i) of the Banking Regulation Act, 1949,