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IMPOSITION OF FINANCIAL PENALTY
BHEL, SAIL at risk of losing Maharatna tagTwo major Indian public sector companies, BHEL and SAIL, face a one-year deadline to improve their financial performance. Failure to meet p...- Invested in US stocks directly and made forex gains due to depreciating Rupee? Know how to compute tax on forex gains and report it in ITRIndian residents investing in US stocks face forex gains tax. These gains are taxable as capital gains when US dollars are converted back t...
- 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...
- New Defence Rules: 5-year ban for poor supplies, 10 years for misconductNew Ministry of Defence guidelines introduce stricter penalties for defence suppliers. Companies failing to meet contract terms or supplyin...
- Failed to report US stocks gained via ESOP? Use this one-time Amnesty scheme; Know how it worksA one-time amnesty scheme, the FAST-DS, has been introduced to help Indian residents and NRIs resolve past non-compliance with reporting fo...
- Employee fined Rs 10 lakh over lack of ESOP disclosure in ITR; here's why ITAT Chennai cancelled itAn Indian employee faced a Rs 10 lakh penalty for not disclosing foreign ESOPs in his Income Tax Return. The Income Tax Appellate Tribunal,...
- RBI imposes penalty on Airtel Payments BankThe Reserve Bank of India has levied a Rs 31.8 lakh penalty on Airtel Payments Bank for failing to disclose certain customer complaints in ...
- RBI imposes penalty on HSBCIn a statement, the Reserve Bank said a statutory inspection for supervisory evaluation of the bank was conducted with reference to its fin...
- RBI slaps penalties on American Express Banking Corp, HDB Financial ServicesThe Reserve Bank of India imposed penalties on two financial entities. American Express Banking Corp received a fine for credit card direct...
- RBI imposes monetary penalty on Muthoot FinCorpThe RBI has fined Muthoot FinCorp ₹2.7 lakh for not complying with Internal Ombudsman norms. An inspection revealed the company lacked a sy...
- RBI imposes penalty on South Indian BankThe Reserve Bank of India (RBI) has fined South Indian Bank Rs 59.20 lakh for violating rules related to 'interest rate on deposits' and 'c...
- RBI imposes Rs 29.6 lakh penalty on HSBCThe Reserve Bank of India (RBI) has imposed a Rs 29.6 lakh penalty on The Hongkong and Shanghai Banking Corporation Limited (HSBC) for non-...
- RBI imposes Rs 3.1 lakh penalty on Hero FinCorpThe RBI carried out a statutory inspection of the company, assessing its financial status as of March 31, 2023. Following this inspection, ...
- CCI seeks stakeholders' comments on proposed regulations to determine turnover of enterprisesThe Competition Commission of India (CCI) has proposed that indirect taxes, trade discounts, and intra-group sales will not be considered w...
- Sebi imposes Rs 10 lakh fine on Bajaj Hindusthan Sugar for disclosure lapsesThe order came after the regulator received a complaint through SCORES against Bajaj Hindusthan Sugar, whereby the complainant raised conce...
- RBI fines Paytm Payments Bank, Western UnionThe RBI informed that on examination of Paytm Payments Bank Limited's application for issue of final Certificate of Authorisation (CoA), it...
- Coal ministry mulls scheme to allow coal block owners to surrender minesOf the total coal production, 671.297 MT was non-coking coal and the remaining 44.787 MT was coking coal. Public sector produced 685.951 MT...
- RBI imposes Rs 5 crore penalty on Axis BankThey also include 'Financial Inclusion-Access to Banking Services-Basic Savings Bank Deposit Account'; and 'Frauds-Classification and Repor...
- RBI imposes penalty on Muthoot Finance, Manappuram FinanceThe central bank has also imposed a penalty of Rs 5 lakh on Manappuram Finance, Thrissur for non-compliance with directions on verification...
- RBI imposes Rs 5 lakh penalty on Muthoottu Mini FinanciersRBI today said it has imposed a penalty of Rs 5 lakh on Muthoottu Mini Financiers for violation of various regulatory norms, including guid...
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