banking regulations

Mumbai, March 30 The RBI on Monday imposed a penalty of ₹31.8 lakh on Airtel Payments Bank for non-compliance with certain provisions related to disclosure in financial statements.The Reserve Bank of India (RBI) said it had conducted a statutory inspection for supervisory evaluation of the...

March 30, New Delhi – The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 was discussed in the Lok Sabha, with Finance Minister Nirmala Sitharaman emphasizing the importance of data privacy.She stated that banks must strictly adhere to Know Your Customer (KYC) norms to ensure the...

New Delhi, March 30 Banks cannot see or record what valuables customers store in lockers, as this would violate banking regulations, Finance Minister Nirmala Sitharaman said on Monday, ruling out differential insurance coverage based on the contents.Sitharaman was responding to a supplementary...

Chandigarh, March 26 – The Haryana State Vigilance and Anti-Corruption Bureau has made its first arrest in connection with alleged discrepancies in fixed deposit receipts amounting to nearly Rs 150 crore held by the Panchkula Municipal Corporation at a Kotak Mahindra Bank branch.According to...

Mumbai, March 20 The Reserve Bank announced on Friday that it has imposed a fine of ₹31.8 lakh on Hongkong and Shanghai Banking Corporation for non-compliance with certain directions related to inactive accounts and unclaimed deposits.In a statement, the Reserve Bank said that a statutory...

New Delhi, March 17 – Aam Aadmi Party (AAP) Rajya Sabha MP Raghav Chadha raised the issue of penalties for minimum account balance in the Upper House of Parliament on Tuesday, urging the Union government to abolish such charges on small bank accounts, saying that they disproportionately affect...

New Delhi, March 17 The Supreme Court on Tuesday asked the Centre and the Reserve Bank of India why the details of the bank accounts of deceased persons could not be disclosed to heirs, and said the government must come up with a policy on the issue.A bench of Justices Vikram Nath and Sandeep...

Mumbai, March 16 The Reserve Bank on Monday imposed a penalty of Rs 3.1 lakh on the payment aggregator Cashfree Payments India Private Ltd for non-compliance with its directions.The RBI found that Cashfree made certain "unauthorized deductions" from an escrow account, according to an official...

New Delhi, March 14 The National Consumer Disputes Redressal Commission (NCDRC) has directed Axis Bank to pay Rs 3.19 crore to a Delhi-based logistics company, holding the bank liable for "deficiency in service" for refusing to accept demonetized currency notes for deposit during the 2016...

Mumbai, March 10 The Reserve Bank of India on Tuesday issued revised prudential norms governing dividend declaration by banks after examining feedback from stakeholders on the draft guidelines.Among the key changes, the RBI has eased the method of calculating "Adjusted Profit After Tax (PAT)"...

Mumbai, March 10 The Reserve Bank of India has capped the maximum dividend that banks can pay to shareholders at 75 per cent of profit after tax (PAT), effective from the financial year 2026-27.The central bank issued the Reserve Bank of India (Commercial Banks – Prudential Norms on...

Mumbai, March 6 The Reserve Bank of India on Friday issued draft amendment guidelines to strengthen the framework governing customer liability in digital transactions, as it seeks to widen protection for users and speed up the resolution of complaints related to fraudulent electronic banking...

Chandigarh, February 22 The Haryana government has de-empaneled IDFC First Bank and AU Small Finance Bank for government business with immediate effect, according to an official circular.No government funds will be parked, deposited, invested, or transacted through these institutions, it said...

Ballia (UP), February 21 Six people, including the branch manager of Canara Bank, have been booked on charges of criminal intimidation, police here said on Saturday.The action came following a complaint by Asha Mishra of Tagore Nagar in the Ballia Kotwali Police Station area, they said.The...

Prayagraj (UP), February 19 The Allahabad High Court has observed that there should be no room for discrimination or high-handedness when investigating agencies instruct banks to freeze accounts during cyber fraud investigations.A division bench of Justice Atul Sreedharan and Justice Siddharth...

Mumbai, February 16 The RBI on Monday issued draft guidelines for banks to report foreign exchange derivative transactions involving the rupee undertaken by their related parties globally, a move aimed at enabling better pricing decisions by market participants.The Reserve Bank said it has...

Mumbai, February 12 The Reserve Bank on Thursday released draft rules governing banks' engagement of loan recovery systems, mandating training for agents and also recordings of all calls.A bank must ensure that all phone calls made to a borrower by an agent are recorded, the RBI said...

Mumbai, February 11 Banks should refrain from offering any incentives that could lead to the mis-selling of products or services, the Reserve Bank proposed on Wednesday.In its draft amendment directions for advertising, marketing, and sales of financial products and services by regulated...

New Delhi, February 10 Approximately ₹72,454 crore in unclaimed deposits from banks, including foreign lenders, are held by the Depositor Education and Awareness (DEA) Fund maintained by the Reserve Bank of India (RBI) as of January 28, 2026, Parliament was informed on Tuesday.The balances in...