-Outlook Reserve Bank of India (RBI) today said it has completed investigations against banks following the Cobrapost expose and will take action if they are found guilty of violating prudential banking norms. "We have done investigations, we have prepared an internal report. There are processes to be followed to take investigations to its logical closure... "The first is action against individual institutions who are involved in practises which are not consistent with the...
More »SEARCH RESULT
Total Matching Records found : 6169
Banks under fire for Saradha mess -Srikumar Bondyopadhyay
-The Times of India KOLKATA: It's not only Cobrapost that seems to be stinging public sector banks. State-owned banks have come under fire and are accused of being hand-in-glove with willful defaulters like Ponzi kingpin Sudipta Sen. In a 25-page statement that the CBI deems a confession, Sen has detailed how he acquired Global Automobiles, a company with a bank debt of Rs 186 crore. Formed in 2005, the company's owner Shantanu...
More »House stalemate could push food bill to next session -Zia Haq
-The Hindustan Times Passage of the UPA's flagship food security bill, a potential vote-winner, is at risk of being delayed with the BJP disrupting Parliament as it seeks the heads of two scandal-tainted ministers and key government ally Sharad Pawar demanding a full debate on the legislation. The food bill aims to give about two-thirds of Indians, or over 800 million people, a legal right to cheap food, and is a programme...
More »Women SHGs to get loans at lower rates - Elizabeth Roche
-Live Mint Cabinet clears proposal to give loans at 7% interest rate, and 4% if SHGs repay loans within the stipulated period The federal cabinet has cleared a proposal to give loans to women self-help groups (SHGs) at 7% interest rate, cheaper than the existing 11.5-14%, bringing the cost of loans on a par with those given to farmers. SHGs that repay loans within the stipulated period will be eligible for loans at...
More »It is only KYC norm violation, says RBI
-The Hindu Mumbai: Reserve Bank of India (RBI) Deputy Governor K.C. Chakrabarty, on Monday, refuted Money laundering charges levelled against various banks, and said that all exposures by Cobrapost.com were connected to know-your-customer (KYC) norms. "We are seeing how the banks are following up on the KYC norms. There are certain differences in the manner of reporting of KYC norms in each bank...Need to strengthen KYC guidelines," he said. In March this year,...
More »
