• Home
  • Business
More

    One Crore penalty imposed on Lakshmi Vilas Bank by RBI

    Today's Latest

    Yogi government is planning to change name of Agra city to Agravan

    Lucknow, Nov 18 (IANS) After changing the names of Allahabad to Prayagraj and Mughalsarai to Deen Dayal Upadhyaya Nagar, the...

    Justice Bobde takes oath as 47th Chief Justice of India

    New Delhi, Nov 18 (IANS) Justice Sharad Arvind Bobde on Monday was sworn in as the Chief Justice of the...

    Amit Shah’s gift to Ladakh: Winter grade diesel

    New Delhi, Nov 17 (IANS) In what is seen as a major boost for the union territory (UT) of Ladakh,...

    Popular Today

    Jaypee Infra resolution: NBCC offers 1,426 acres to banks

    New Delhi, Nov 17 (IANS) Softening its resolution plan for Jaypee Infratech (JIL), state-run construction major NBCC has offered 1,426...

    Yogi government is planning to change name of Agra city to Agravan

    Lucknow, Nov 18 (IANS) After changing the names of Allahabad to Prayagraj and Mughalsarai to Deen Dayal Upadhyaya Nagar, the...

    Can’t have greats of Indian cricket play in front of empty stands: Ganguly

    Kolkata, Nov 17 (IANS) BCCI President Sourav Ganguly said on Sunday that skipper Virat Kohli will be happy to see...
    India Updates
    India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

    One Crore penalty imposed on Lakshmi Vilas Bank by RBIMumbai, Oct 14 (IANS) The Reserve Bank of India (RBI) on Monday imposed a penalty of Rs 1 crore on the Lakshmi Vilas Bank Ltd, owing to deficiencies in its regulatory compliance.

    The central bank said its statutory inspection of the bank with reference to its financial position as on March 31, 2017, revealed, inter alia, non-compliance with directions issued by RBI on”Income Recognition and Asset Classification (IRAC) norms”.

    - Advertisement -

    “This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers,” the RBI said.

    The action came after a week after the central bank rejected the merger of India Bulls Housing Finance Ltd and the bank.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Must Read

    Justice Bobde takes oath as 47th Chief Justice of India

    New Delhi, Nov 18 (IANS) Justice Sharad Arvind Bobde on Monday was sworn in as the Chief Justice of the...

    Justice Bobde takes oath as 47th Chief Justice of India

    New Delhi, Nov 18 (IANS) Justice Sharad Arvind Bobde on Monday was sworn in as the Chief Justice of the Supreme Court of India by...

    ‘Make in India’ hub Noida to churn over 30 cr mobiles in 5 yrs

    Noida, Nov 17 (IANS) The pace at which mobile manufacturing activity is growing in the Noida/Greater Noida area owing to the "Make in India" initiative,...

    Hindu, Muslim litigants against AIMPLB’s Ayodhya review plea

    Ayodhya, Nov 17 (IANS) The Hindu and Muslim litigants in the Ayodhya case have opposed the All India Muslim Personal Law Board's decision to file...

    Wikipedia co-founder launching WT: Social, as a rival to Facebook, Twitter

    San Francisco, Nov 17 (IANS) Intended to get right what Facebook and Twitter have so far been getting wrong, Wikipedia co-founder Jimmy Wales is launching...

    More Articles Like This