Start learning 50% faster. Sign in now
The Reserve Bank of India has imposed a monetary penalty of Rs 4.34 crore on Bank of Baroda, Rs 5 crore on Citibank, and Rs 1 crore on Indian Overseas Bank for violating norms. Bank of Baroda, according to RBI, failed to ensure accuracy and integrity of data on large exposures submitted to RBI with respect to some accounts. The penalty on Citibank was because the lender failed to credit the eligible amount to the Depositor Education and Awareness Fund within the prescribed time period, paid remuneration in the form of commission to its certain staff members, and outsourced the monitoring and disposal/closure (decision-making function) of AML (Anti-Money Laundering) alerts to a group company. On IOB, RBI said the bank was found violating norms while extending term loans to two corporate entities without undertaking due diligence on the viability and bankability of the projects to ensure that revenue streams from the projects were sufficient to take care of the debt servicing obligations, and it was sanctioned to substitute budgetary resources envisaged for certain projects.
What is the name of the scheme launched in Uttar Pradesh to empower youth entrepreneurs, and how much has the government allocated in the budget for the...
What was the employment growth rate in India for FY24?
How much did Equities contribute to the total National Pension System ( NPS ) Assets Under Management ( AUM ) ?
The Insurance Regulatory and Development Authority of India (IRDAI) has increased the limit on losses for the appointment of Surveyors and Loss Assessor...
A group of countries made a joint agreement to build the India-Middle East-Europe Economic Corridor, which of the following countries is not a part of it?
World Tuna Day is observed every year on?
Which country did India make its first - ever rupee payment for the purchase of crude oil from?
What type of nuclear reactor is India expected to commission in 2026?
Who is the President of the Confederation of Indian Industry ?
Recently ________ has been appointed as the New Prime Minister of Sri Lanka ?