Home Business Bank Fees: Here’s What You PAY For Not Maintaining Minimum Balance The term Average Minimum Balance or AMB signifies the smallest amount you need to keep in your savings account to avoid being charged with non-maintenance fees. Published: August 17, 2024 6:19 PM IST By Joy Pillai Bank Fees: Here’s What You PAY … Read more
Home Business RBI Imposes 1Cr Fine On ICICI Bank & 91 lakh On Yes Bank For Non-Compliance RBI said ICICI Bank did not comply with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’. The Reserve Bank of India (RBI) has imposed monetary penalty on Yes Bank and ICICI Bank … Read more
The Reserve Bank of India imposed penalties on two private banks—ICICI Bank and Yes Bank—for lapses in compliance, the regulator said in a statement Monday evening. The penalty on Yes Bank is Rs 91 lakh, while that on ICICI Bank is Rs 1 crore. Yes Bank The penalty is imposed on Yes Bank because it … Read more
MUMBAI: RBI has imposed penalties on ICICI Bank and Yes Bank of Rs 1 crore and Rs 91 lakh, respectively, for violation of norms. Yes Bank violated RBI norms by imposing charges on bank accounts where the balance had run down to zero. It had also opened and operated internal accounts in customers’ names for … Read more
Mumbai: Notwithstanding the sharp swings in the stock market in recent weeks, individual investors are not shying away from borrowing and betting on shares, especially mid-caps – some of the worst hit in the recent sell-off. The total quantum of margin funding – a short-term loan to investors for buying shares they cannot afford otherwise … Read more
NEW DELHI: Share of One97 Communications, parent company of Paytm, hit upper circuit for second consecutive session on Monday. The stock surged 18.50 or 4.99% to 389.20 with a total increase of 11% in two sessions after it received approval from the National Payments Corporation of India (NPCI) join UPI as a third-party application provider … Read more
Home Business Paytm To Become Third-party UPI App, Gets Regulator’s Nod NPCI said that four banks — Axis Bank, HDFC Bank, SBI, YES Bank — will act as Payment System Provider to Paytm. Paytm New Delhi: One97 Communications Limited (OCL), Paytm’s parent entity got the approval of National Payments Corporation of India (NPCI) to participate … Read more
MUMBAI – Private banks, which have always been the favourites of institutional investors, lost the spot to public sector banks who are touching the sky riding on retail bulls. So far in 2024, all public sector banks have given double-digit returns to investors. On the contrary, private sector banks have seen single to double-digit fall … Read more
National Asset Reconstruction Company of India (NARCL) has proposed to acquire the debt of Jaiprakash Associates from banks for ₹10,000 crore, making it the largest offer made so far by the government-backed asset reconstruction company (ARC) that started operations just over two years ago. If a majority of lenders sell their debt, ARC will acquire … Read more
Mumbai: Recent penalties by the banking watchdog on financial intermediaries are an early warning on what’s in store for rule violators in the new regulatory era as central bank governor Shaktikanta Das ‘future-proofs’ an increasingly digital financial ecosystem to deliver durably robust economic growth in India’s fast-paced journey toward becoming a developed nation. The Reserve … Read more