Question
What was the total penalty imposed by the RBI on
Tamilnad Mercantile Bank Limited for non-compliance with directives on 'Interest Rate on Advances' and 'Central Repository of Information on Large Credits (CRILC) - Revision in Reporting'?Solution
RBI's imposition of a ₹13,180,000 penalty on Tamilnad Mercantile Bank Limited was due to several failures including benchmarking interest rates on certain loans to MSMEs to an external benchmark lending rate, adopting multiple benchmarks within the same loan category, improperly pricing floating rate loans, and incorrectly reporting borrower ratings to CRILC. This move underscores RBI's stringent compliance requirements to ensure transparency and fairness in banking operations .
What is the primary function of the ‘Jago Grahak Jago App’ launched by the Department of Consumer Affairs?
What is the total amount collected from GST on online gaming in six months, as reported in the 54th GST Council meeting?
What historic aspect relates to the expected invitation of Indonesia’s President Prabowo Subianto as the chief guest for India’s Republic Day in 202...
which state in India will receive a $141.12 million loan from the Asian Development Bank (ADB) for the development of internal infrastructure in three i...
What is the purpose of the 'Mukhyamantri Majhi Ladki Bahin Yojana' launched in Maharashtra?
The Insurance Regulatory and Development Authority of India (IRDAI) has made changes to the approval process for insurance products.What changes have be...
Which cricketer retired from Test cricket on July 12, 2024, at Lord's Cricket Ground, ending a 21-year career with 704 wickets in 188 Tests?
SC in a 4:1 majority verdict upholds decision to demonetize the Rs ____ and Rs ____ denomination notes.
What is the purpose of the Anusandhan National Research Fund under Priority 8 of the budget?
Where are the headquarters of ITC Ltd?
Relevant for Exams:
