Record-breaking Penalties Imposed on ICICI and Kotak Mahindra for Norm Violations
Monetary penalty of approximately Rs. 12.2 crore on ICICI Bank and a monetary penalty of ₹3.95 crore on Kotak Mahindra Bank Limited.
November 6, 2023
Monetary penalty of approximately Rs. 12.2 crore on ICICI Bank and a monetary penalty of ₹3.95 crore on Kotak Mahindra Bank Limited.
These SOPs apply to vendors engaged by TPPs and contractors /concessionaires conducting supply through Memorandum of Understanding (MOU) with TPPs.
Circular: RBI/2023-24/72 DoR.FIN.REC.48/20.16.003/2023-24 issued in line with the Statement on Developmental and Regulatory Policies.
Circular: RBI/2023-24/73 DoR.FIN.REC.49/20.16.003/2023-24 to CICs to improve the grievance redress mechanism and customer service.
The term “Bulk Deposit” in the context of RRBs has been amended to denote singular rupee term deposits amounting to one crore rupees or more.
New directions regarding interest rates on domestic term deposits vide circular bearing reference number RBI/2023-24/74 DOR.SPE. REC. No 51/13.03.000/2023-24.
RBI Releases Non-Banking Financial Company– Scale Based Regulation Directions, 2023
Currency in Circulation (CIC) declines in the first half of financial year, marking unprecedented H1 decrease in a decade.
The RBI’s warning about personal loan growth serves as a reminder for lenders to remain cautious about potential challenges in the future.
SEBI has been conducting outreach programs to encourage civic bodies to consider raising funds for their infrastructural projects through bonds and pooled finance.
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