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Compliance under PMLA, demands reporting entities’ registration and adherence to regulatory norms like KYC, transaction records, and reporting of suspicious activities
Laws

28 crypto/ VDA platforms register with FIU-India to comply with PMLA...

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Offshore crypto exchanges must register with India’s FIU: Finance Ministry As many as 28 Virtual Digital Assets (VDA) service providers, including WazirX, Coin DCX, and...
Shaktikanta Das said that many lenders were depending too much on the algorithms to make their decisions and there was a need to analyze data more carefully before making investment decisions
Banking

RBI Governor expresses concern over high dependence of NBFCs on bank...

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The prospects are at a new high in the country and this is the time to make it India’s moment, says RBI Governor Addressing the...
The supervisory restrictions will be reviewed upon the rectification of the said deficiencies to the satisfaction of RBI
Banking

RBI directs Bajaj Finance to stop sanction, disbursal of loans under...

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RBI asks Bajaj Finance to stop lending via 'eCOM' and 'Insta EMI Card' products Exercising its powers under section 45L(1)(b) of the Reserve Bank of...
Three immovable properties of Pawan Munjal located in Delhi have been provisionally attached under the provisions of PMLA
Fraud

ED accuses Hero MotoCorp’s Pawan Munjal of using others’ forex for...

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Hero MotoCorp's Pawan Munjal's properties Worth Rs.24.95 cr seized The Enforcement Directorate (ED) on Friday accused Hero MotoCorp executive chairperson Pawan Kant Munjal of using...
Penalty imposed on Shree Lodra Nagarik Sahakari Bank Ltd, Malpur Nagarik Sahakari Bank Ltd and Limbasi Urban Co-operative Bank Ltd
Banking

RBI imposes fine on 3 Gujarat banks for violating norms

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RBI action taken against the banks is based on deficiencies in regulatory compliance The Reserve Bank of India (RBI) has imposed monetary penalties on three...
People can avail the facility of sending the Rs.2000 banknotes through post offices of India Post
Banking

Total value of Rs.2000 notes in circulation drop to Rs.0.1 lakh...

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RBI reveals over 97% of Rs.2000 notes returned, Rs.10,000 cr worth notes still in circulation The Reserve Bank of India (RBI) has said that the...
Bank Bachao Desh Bachao Manch, a forum representing various sections of civil society, is seeking ways to combat Aadhar card-related bank fraud
Banking

Civil society forum writes to Governor of RBI seeking information security...

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Forum asks RBI Governor Shaktikanta Das for bank security auditors Given the rising number of incidents involving online bank frauds due to the misuse of biometrics...
MPC voted unanimously to leave the repo rate unchanged at 6.5 percent
Economy

For the 4th consecutive time, RBI leaves repo rate unchanged with...

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RBI keeps repo rate unchanged at 6.5% The Reserve Bank of India (RBI), as was widely expected, left the key lending rate unchanged at a...
Penalty of Rs.1.3 cr was imposed on SBI, Rs.1.62 cr on Indian Bank, Rs.1 cr on Punjab & Sind Bank, and Rs.8.80 lakh on Fedbank Financial Services
Banking

RBI fines SBI, Indian Bank, Punjab & Sind Bank, Fedbank Financial...

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RBI imposes penalty worth Rs. 4.7 cr on SBI, 3 others; cancels Kapol Co-operative Bank licence The Reserve Bank of India (RBI) slapped fines on...
The timeline and place of return of original movable or immovable property documents will be mentioned in the loan sanction letters issued on or after the effective date
Banking

RBI directs banks to return property papers within 30 days of...

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RBI introduces guidelines for timely release of property papers to borrowers after loan repayment Reserve Bank of India (RBI) has issued guidelines for banks related...
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