RBI Penalizes Central Bank of India and Sonali Bank PLC for Violations The Reserve Bank of India (RBI) recently imposed penalties on Central Bank of India and Sonali Bank PLC for regulatory violations. This action underscores the central bank’s commitment to maintaining discipline and adherence to financial regulations in the banking sector. Penalties Imposed Central…
RBI Cancels Purvanchal Cooperative Bank’s Licence Financial Insufficiency and Regulatory Action The Reserve Bank of India (RBI) has revoked the licence of Purvanchal Co-operative Bank, situated in Ghazipur, Uttar Pradesh. The decision stems from the bank’s failure to maintain sufficient capital and sustainable earnings. This financial inadequacy led the RBI to take regulatory action to…
RBI Imposes Business Restrictions on Edelweiss Group Overview of RBI’s Action The Reserve Bank of India (RBI) has imposed significant business restrictions on Edelweiss Group’s lending and asset reconstruction entities. This move aims to address concerns related to loan manipulation and structured transactions that allegedly circumvented regulatory norms. Edelweiss Asset Reconstruction Company Ltd (EARCL) and…
RBI Imposes Rs. 3.1 Lakh Penalty on Hero FinCorp for Fair Practices Code Violation Overview of the Incident The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs. 3.1 lakh on Hero FinCorp Limited. The fine was levied due to the company’s failure to adhere to the Fair Practices Code (FPC) guidelines…
SEBI’s Amendments to LODR Regulations: Enhancing Market Capitalization Computation Introduction to SEBI’s Amendments The Securities and Exchange Board of India (SEBI) has introduced significant amendments to the Listing Obligations and Disclosure Requirements (LODR) Regulations. These changes are poised to impact the computation of market capitalization, aligning it with international standards and ensuring greater transparency in…
Reliance Capital’s Acquisition by Hinduja Group’s IIHL Receives IRDAI Approval Reliance Capital, a prominent player in the financial services sector, is set to undergo a significant transition as the acquisition proposal by Hinduja Group’s IndusInd International Holdings Ltd (IIHL) receives approval from the Insurance Regulatory and Development Authority of India (IRDAI). This development holds relevance…
Bharti Enterprises Sells ICICI Lombard Shares for ₹663 Crore: Transaction Overview In a significant financial move, Bharti Enterprises, a prominent player in various sectors including telecom and agri-business, has sold its shares in ICICI Lombard General Insurance Company Limited. The transaction amounted to a staggering ₹663 crore. This deal marks a strategic shift in the…
RBI Lifts Restrictions on Bank of Baroda’s (BoB) World Mobile App The Reserve Bank of India (RBI) has recently lifted the restrictions imposed on Bank of Baroda’s (BoB) World Mobile App. This decision comes after the bank complied with the regulatory norms and rectified the issues pointed out by the central bank. The lifting of…
RBI Imposes Monetary Penalties on Co-operative Banks The Reserve Bank of India (RBI) has recently taken a decisive step by imposing monetary penalties on several co-operative banks across the country. This move comes as part of the RBI’s ongoing efforts to enforce regulatory compliance and maintain the stability of the banking sector. Background of the…
RBI Cancels AceMoney India NBFC License for Irregular Lending Practices The Reserve Bank of India (RBI) has taken stringent action against AceMoney India, a Non-Banking Financial Company (NBFC), by revoking its license due to irregular lending practices. The move comes in response to AceMoney India’s failure to comply with regulatory guidelines and norms set by…
