RBI Significantly Raises Bulk Deposit Limit for Large UCBs to ₹1 Crore and Above The Reserve Bank of India (RBI) recently implemented a noteworthy change by substantially elevating the bulk deposit threshold for large Urban Co-operative Banks (UCBs) to ₹1 crore and above. This decision marks a pivotal shift in the financial landscape, reshaping the…
RBI Imposes Fines on 5 Co-operative Banks: Ensuring Financial Discipline The Reserve Bank of India (RBI) recently made a significant move by penalizing five co-operative banks for various non-compliance issues. This action emphasizes the regulator’s commitment to maintaining financial discipline and adherence to regulations within the banking sector. Amidst growing concerns about regulatory violations and…
RBI to Implement a New Penalty Framework for Banks The Reserve Bank of India (RBI) has recently announced its plans to introduce a revamped penalty framework for banks, aiming to strengthen the regulatory mechanism governing the banking sector. This strategic move comes as part of the RBI’s continuous efforts to fortify the banking system, ensuring…
RBI Directs Bank of Baroda to Halt New Customer Onboarding on Its Mobile App The Reserve Bank of India (RBI) has recently taken a significant step by instructing the Bank of Baroda to suspend new customer onboarding through its mobile application. This move has far-reaching implications in the banking sector and is particularly crucial for…
