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RBI KYC COMPLIANCE
RBI sweetens FCNR deposits: NRIs can now earn up to 7% on dollar savingsFor the first time in years, the math is actually working for non-resident Indians to invest dollar savings in India.- RBI fines Canara Bank for violations related to KYC, inactive accountsThe Reserve Bank of India has taken action against Canara Bank, slapping a substantial Rs 41.8 lakh fine for failing to comply with Know Yo...
- RBI slaps Rs 10.10 lakh penalty on City Union Bank, 2 more entitiesThe Reserve Bank of India has levied fines on three financial entities. City Union Bank faced a penalty for incorrect loan charges and data...
- Sebi proposes to permit third-party payment in mutual funds in certain scenariosThe current regulatory framework mandates that all payments for investments in mutual funds must originate directly from the investor's own...
- Why India cannot build a world-class fintech champ yetIndia boasts world-class digital finance but lacks global consumer fintechs. Regulatory hurdles prevent innovation, unlike in markets with ...
- RBI imposes penalty on IIFL FinanceThe Reserve Bank of India has fined IIFL Finance Rs 3.1 lakh for not returning surplus amounts from gold auctions to borrowers. Appnit Tech...
- RBI eases rules for outward remittances; drops prior approval for non-bank entitiesThe Reserve Bank of India has eased rules for non-bank entities facilitating outward remittances. Prior approval from the RBI is no longer ...
- Nifty Bank crashes 900 points as SBI, IndusInd, Yes Bank, other lender stocks tumble up to 4%. What lies ahead?The Nifty Bank index plunged nearly 900 points, driven by weak earnings from State Bank of India and broader market sentiment. SBI shares l...
- RBI imposes penalties on YES Bank, Hinduja Housing FinanceThe RBI said the bank failed to put in place a system of using KYC Identifier assigned by Central KYC Records Registry for the purpose of e...
- Hyderabad cops want RBI to plug gaps that facilitate cybercrimeHyderabad Police's crackdown on cyber fraud, revealing systemic banking gaps and Rs 400 crore annual losses, has prompted a high-level meet...
- NRI but using resident savings account? Here’s what you must know about NRE, NRO, and FEMA rulesNRIs must update their Indian bank accounts to NRE or NRO status to comply with FEMA regulations. Failing to do so can result in significan...
- WhatsApp banned 9,400 accounts involved in digital arrest scams since January this year: Centre to SCAuthorities are launching a major crackdown on digital arrest scams. WhatsApp has banned thousands of accounts involved in these frauds. Ne...
- RBI fines Pine Labs Rs 3.1 lakh for KYC lapses on prepaid payment instrumentsThe move follows a statutory inspection of the fintech’s operations conducted between July 2024 and May 2025. The RBI clarified that the ac...
- RBI Imposes penalty of Rs 75 lakh on HDFC Bank for violating customer KYC directionsHDFC Bank: The Reserve Bank of India found HDFC Bank violated Know Your Customer (KYC) norms as laid down by RBI's Master Direction - Know ...
- Paytm Fallout: RBI's new KYC drill impacting ARC dealsEarlier, asset reconstruction companies (ARCs) would ask creditors selling bad loans for central KYC records, but now the RBI is insisting ...
- Digibanks, know thy KYC-keepingRBI's regulatory intervention on customer identification by payments banks is seen as harsh for startups. Digital wallet providers argue th...
- RBI imposes Rs 3.06 crore penalty on Amazon Pay (India) for violation of normsThe central bank, however, added the penalty is based on deficiencies in regulatory compliance and not intended to pronounce upon the valid...
- RBI imposes penalties on Federal Bank, Bank of IndiaAbout Federal Bank, RBI said the bank failed to ensure that no incentive (cash or non-cash) was paid to its staff engaged in insurance brok...
- RBI imposes fine of Rs 3 crore each on Deutsche Bank, J&K BankThe RBI also slapped a fine of Rs 3 crore on state-owned Jammu and Kashmir Bank Ltd for violating similar norms.
- RBI fines Indian Overseas Bank after fraud came to lightThe Reserve Bank of India has imposed a fine of Rs 20 million on Indian Overseas Bank for non-compliance with the directions issued by RBI ...
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