A recent press report said that the RBI has penalized Gujarat-based cooperative lender Mansa Nagarik Sahakari Bank Limited (MNSBL) for violation of Anti-Money Laundering (AML) guidelines. The RBI has imposed a penalty of Rs 1 lakh on Gandhinagar- headquartered MNSBL for violating the RBI’s instructions regarding the submission of reports on cash transactions above Rs… Read More »
A recent press report said that Reliance Power has received Reserve Bank of India’s approval for raising $2.2 billion loan from the US and Chinese banks, for the 3,960 mw-Sasan power project in Madhya Pradesh. Reports said that $1.1 billion would be offered by Chinese banks, including Bank of China, China Development Bank and Export… Read More »
A recent press report said that the Reserve Bank of India (RBI) has penalised Gujarat-based co-operative sector lender – Porbandar Vibhagiya Nagarik Sahakari Bank (PVNSB) – for violation of its guidelines. The RBI has imposed a fine of Rs. 1 lakh on PVNSB for violating RBI guidelines on ‘Know Your Customer (KYC)’ norms as well… Read More »
We tend to ignore the basic fundamental of stocks when we invest. However small the ownership of the company, we tend to buy it! Every stock represents a tiny ownership of the company. This implies that the corporate events within the company will impact the stock. The purpose of a firm is to maximize the… Read More »
A recent press report said that the National Housing Bank (NHB) has planned to take a decision on whether there will be a complete on floating-rate home loan. According to Mr. R. V. Verma, NHB chairman and managing director told the press that the decision will be in the best interest of the borrowers. He… Read More »
A recent press report said that the Finance Ministry is likely to look for the Parliament’s nod for an additional Rs. 10,000-12,000 crore to recapitalize about half a dozen public sector banks this fiscal. Reports said that over and above Rs 6,000 crore has been allocated in the budget. Mr. D. K. Mittal, Financial Services… Read More »
A recent press report said that the Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (Rupees five lakh only) on Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS)… Read More »
A recent press report said that Dhanlaxmi Bank, as a part of its strategy has planned to focus on the self employed rather than salaried class to increase its retail portfolio especially home loans. According to Mr. Arvind Halli, Head – Retail Assets and Credit Card, Dhanlaxmi Bank, though the self employed customers seem more… Read More »
According to a recent report the RBI has increased the amount that the exporters can receive through service providers. The RBI offered the enhancement of amount that can be received as export remittances through Online Payment Gateway Service Providers (OPGSPs) from $500 to $3000. The Central Bank has permitted the banks dealing with foreign exchange… Read More »
A recent press report said that Maharashtra Government has planned to extend the crop loan limit to Rs. 1 lakh from Rs 50,000 earlier under zero per cent interest rate scheme. Reports said that the decision was taken at the weekly Cabinet meeting chaired by Chief Minister Mr. Prithviraj Chavan. He said that the extension… Read More »