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RBI penalises National Urban Co-operative Bank Ltd, Pratapgarh, UP

Mumbai, July 5 (UNI) The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs five lakh on the National Urban Co-operative Bank Ltd, Pratapgarh, Uttar Pradesh.
RBI has penalised the Bank in exercise of powers vested in it under the provisions of Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies), for violation of RBI Instructions/Guidelines on Exposure Norms and Statutory/Other Restrictions, Know Your Customer Norms and Obtaining Membership of Credit Information Companies (CICs).
The Reserve Bank of India had issued a showcause notice to the Bank, in response to which the Bank had submitted a written reply.
After considering the facts of the case, the Reserve Bank came to the conclusion that the violations were substantiated and warranted imposition of penalty.
UNI JS NV RJ 1423
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Govt to infuse Rs 11,336 cr in 5 public sector banks

17 Jul 2018 | 10:55 PM

New Delhi, July 17 (UNI) The government on Tuesday announced an infusion of Rs 11,336 crore in five public sector banks as part of its Indradhanush scheme.

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WE Hub hosts MSME workshop for women entrepreneurs

17 Jul 2018 | 9:37 PM

Hyderabad, July 17 (UNI) 'WE HUB' along with MSME-DI organised a workshop to showcase the various schemes and financial assistance programs available from the Government of India, Government of Telangana and Banking institutions, here on Tuesday.

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IDBI board to seek govt decision over LIC proposal

17 Jul 2018 | 9:30 PM

New Delhi, July 17 (UNI) A day after board of state-run insurance company LIC gave its nod to increase its stake in debt-ridden Public Sector Bank IDBI up to 51 per cent; the IDBI board decided to seek the decision
of the government over the LIC proposal.

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Max Life Insurance to distribute Rs 1,084 crore as bonus to its participating policyholders

17 Jul 2018 | 7:26 PM

Gurugram, July 17 (UNI) Max Life Insurance, one of the leading life insurance companies of India, announced that it will be paying Rs 1,084 crore as policyholder bonus on the participating policies in-force, an increase of 27 per cent over Rs 854 crore in the same period in the previous year.

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MediaTek unveils new chipset to power smartphones

17 Jul 2018 | 7:21 PM

New Delhi, July 17(UNI) Taiwanese semiconductor company MediaTeK on Tuesday unveiled its Helio A series, expanding its Helio family of feature-packed and power-efficient chipsets with the company's new Helio A22 system-on-chip (SoC).

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