The eradication of the RBI on co-operative banks continues in 2021.After the gap, cooperative banks are back in the news. Last week, the Reserve Bank of India (RBI) canceled the license of United Co-operative Bank Ltd, in Bagnan, West Bengal, citing its poor financial situation. However, the good news at this time is that all …
The meeting of the RBI (MPC) finance committee came at a critical time with the economy facing the second wave of coronavirus. In anticipation of the expected move, the MPC maintained the current status quo in policy values and decided to continue standing. The second wave has hit the economy as most countries impose locks …
Many applications have been filed in the Supreme Court seeking to start contempt of court action against Reserve Bank of India (RBI) Governor Shaktikanta Das, Chief Executive of Indian Banks Association (IBA) and others for allegedly violating a high court order, announcing the appellants’ account as Non Performing Assets (NPA) on the issue of suspension. …
The banking regulator, the Reserve Bank of India (RBI), has issued a show cause notice before canceling the license of fraudulent Sambandh Finserve Pvt Ltd, as it has deteriorated beyond the regulatory minimum and financial condition in recent months Networth has deteriorated, two people directly familiar with the development. One of the individuals quoted above …
Exclusive : RBI to revoke fraudulent license-related license; Show cause notice Read More »
