MONEY & BANKING


IANS 15 November 2018
The Reserve Bank of India on Wednesday said it has imposed penalties on Deutsche Bank A.G. of Germany and The Jammu & Kashmir Bank Ltd for violating varous norms.   The penalties imposed are Rs 30.10 million on Deutsche Bank A.G. and Rs 30 million on The Jammu & Kashmir Bank Ltd.,...

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IANS 15 November 2018
Yes Bank on Wednesday said that its non-executive independent part-time Chairman Ashok Chawla has resigned with immediate effect.   "Yes Bank announces that Shri Ashok Chawla, non-executive independent part-time chairman, has tendered his resignation from the Bank's Board, with...

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Moneylife Digital Team 14 November 2018
In a strong and exemplary action, the Insolvency and Bankruptcy Board of India (IBBI) has debarred Martin SK Golla, an insolvency professional (IP) for 10 years for deliberate, blatant, orchestrated and collusive contraventions in his duty and responsibility.    "By his conduct and...

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IANS 14 November 2018
The Reserve Bank of India (RBI) would inject Rs12,000 crore into the market by purchasing government securities on November 15, 2018.   The decision comes amid concerns of a liquidity crisis in the economy after the financial services company IL&FS reported defaults in...

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Moneylife Digital Team 12 November 2018
PNB Housing Finance Ltd said it has received Rs3,500 crore for refinancing from the National Housing Bank (NHB). These funds will be utilised for sector wise disbursements and shall be in accordance with the norms set by the NHB refinance schemes, the company said in a...

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IANS 10 November 2018
Dismissing reports that the government sought Rs3.6 lakh crore from the RBI reserves as "misinformed speculation", Economic Affairs Secretary Subhash Chandra Garg on Friday said there was no such proposal and that the country's fiscal deficit target was on track.   The government will...

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Moneylife Digital Team 06 November 2018
The government is continuing to make efforts improve the Insolvency and Bankruptcy Code (IBC) for which the Insolvency and Bankruptcy Board of India (IBBI) will continue to interact with and seek feedback from various stakeholders. The government is also working to augment National Company...

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Moneylife Digital Team 06 November 2018
UPDATED on 10 November 2018 at 1550 to include response from CapitaWorld and SIDBI-led consortium   The Diwali gift from prime minister Narendra Modi to the micro, small and medium enterprises (MSME) sector, may well turn out to be a privacy and security nightmare for small businesses...

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If the feud between the government and the Reserve Bank of India (RBI) escalates further (as reported by several media organisations), there is a good chance that governor Dr Urjit Patel will throw in the towel at the next board meeting on 19th November. Sources, who are in touch with the...

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Moneylife Digital Team 05 November 2018
The Central Information Commission (CIC) has issued a show-cause notice to Dr Urjit Patel, governor of the Reserve Bank of India (RBI) for not honouring a judgement of the Supreme Court on disclosure of wilful defaulters’ list who had not paid loans of Rs50 crore and more.    In the...

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Moneylife Digital Team 31 October 2018
Several banks in India, which are using Microsoft Office 365 cloud-based email services are sharing financial data of customers with US agencies, says a report.   In the report, DNA Money says this was pointed out by Reserve Bank of India (RBI) in its risk assessment report (RAR) and...

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Moneylife Digital Team 31 October 2018
A faceoff between the government and the Reserve Bank of India (RBI) has reportedly escalated to the point that it may lead to the resignation of RBI Governor. The breaking point was apparently over the government’s plan to invoke Section 7 of the RBI Act for the first time. What exactly is...

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IANS 25 October 2018
The Enforcement Directorate (ED) on Thursday said it has sent request for attachment of fugitive diamantaire Nirav Modi's Hong Kong assets worth Rs 255 crore in the multi-crore Punjab National Bank (PNB) loan default case.   The financial probe agency sought attachment of the assets...

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Every year, the public sector banks (PSBs) celebrate Vigilance Awareness Week between 26th October and 1st November.  Oaths of integrity and honesty are administered to the staff at the corporate offices by a high dignitary of each PSB in the presence of some local high-ranking police...

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IANS 24 October 2018
Business magnate Cyrus P. Mistry on Wednesday announced the launch of a new global enterprise, Mistry Ventures LLP, to provide strategic insights and advice to businesses, incubate new ventures and provide seed, early stage and growth capital to startups in India and worldwide.   It...

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IANS 24 October 2018
The major reason for the crisis being faced by banks is the absence of a developed bond market in the country, the official auditor said on Tuesday.   Speaking at the launch of the Indian School of Public Policy here, Comptroller and Auditor General Rajiv Mehrishi maintained that the...

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IANS 24 October 2018
The Enforcement Directorate on Tuesday filed chargesheet under the anti-money laundering law against Sandesara brothers and their Gujarat-based pharmaceutical company Sterling Biotech Limited (SBL) in the fraudulent Rs 8,100-crore loan from domestic as well as offshore branches of Indian...

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Moneylife Digital Team 24 October 2018
Well-known law firm Cyril Amarchand Mangaldas has withdrawn its inquiry report of 2016 which had found no evidence of nepotism and conflict of interest on the part of Chanda Kochhar, former managing director (MD) and chief executive (CEO) of ICICI Bank. Using the report, the Bank had closed...

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Moneylife Digital Team 23 October 2018
In a shocking incident, the Noida Police have arrested the secretary of Paytm founder and chief executive Vijay Shekhar Sharma, her husband and one more person for trying to blackmail him and  attempt extort Rs20 crore from him.    The first information report (FIR) filed with the...

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Shobhit Agarwal 23 October 2018
It may be true that ‘when the going gets tough, the tough gets going,’ but this does not hold true for the Indian real estate sector currently. The ongoing crisis in ono-banking finance companies (NBFCs) post Infrastructure Leasing and Financial Services (IL&FS) default has made things even...

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