News and Articles

RBI imposes penalty over Rs 29 lakhs on Western Union and over Rs 10 lakhs on MoneyGram

Submitted by dhananjay on Fri, 05/03/2019 - 22:24

Mumbai : As per the press release from the Reserve Bank of India (RBI), it has, vide orders dated April 20, 2018, imposed monetary penalty of ₹ 29,66,959/- and ₹ 10,11,653/- on Western Union Financial Services Inc., USA and MoneyGram Payment Systems Inc., USA, respectively, for non-compliance of regulatory guidelines.

These penalties have been imposed in exercise of the powers vested in RBI under the provisions of Section 31 of the Payment and Settlement Systems Act, 2007 for compounding of the contraventions, says the release.
[RBI]

Use Science & Technology to bring in a positive change in the lives of people: Vice President tells Techies

Submitted by dhananjay on Tue, 04/23/2019 - 18:44

New Delhi : The Vice President of India, Shri M. Venkaiah Naidu has asked the youngsters and students to use science and technology and their intellect to bring in a positive change in the lives of people.

Addressing the 1st Convocation of Indian Institute of Information Technology, Sri City (IIIT Sri City), in Chittoor District of Andhra Pradesh today, Shri Naidu called upon the youth to make impactful contributions to the society by providing solutions to pressing problems of the nation such as poverty, illiteracy, climate change, hidden hunger, urban-rural divide, and others.

"Virtual reality centre" a reality - shall boost indigenous warship design capabilities

Submitted by dhananjay on Fri, 04/12/2019 - 23:42

New Delhi : Admiral Sunil Lanba, PVSM, AVSM, ADC the Chief of the Naval Staff, inaugurated the maiden ‘state-of-the-art’ Virtual Reality Centre (VRC) at the Directorate of Naval Design (Surface Ship Group), today. This centre would provide major boost to the Indigenous warship design capabilities of Indian Navy, providing impetus to self-reliance and greater fillip to warship construction under “Make in India” initiative of the Indian government.

The Vice President asks banks to adhere strictly to the principles of business ethics and good corporate governance at all times

Submitted by dhananjay on Fri, 04/12/2019 - 23:39

New Delhi : The Vice President of India, Shri M. Venkaiah Naidu has said that financial inclusion and inclusive development are the needs of the hour. He called for ‘Antyodaya’ and stated that development held no meaning until its benefits reached the most deprived groups of people. He was addressing the gathering at the celebration of the 125th Foundation Day of the Punjab National Bank (PNB), here today.

ECI invokes powers under Article 324 to prohibit display/exhibit any biopic/publicity material during MCC period

Submitted by dhananjay on Wed, 04/10/2019 - 23:34

New Delhi : The Election Commission of India today issued an order prohibiting display in electronic media including cinematograph of any biopic or publicity material in the nature of biography/hagiography sub-serving the purposes of any political entity or any individual entity connected to it.

[PIB]