Banking Regulation Act 1949 Current Affairs, GK & News

RBI cancels licence of Madgaum Urban Co-operative Bank Ltd, Margao

The Reserve Bank of India cancelled the license of Madgaum Urban Cooperative Bank Co., Ltd., located in Margao, Goa, because due to the current financial situation of the bank they will not be able to pay its current depositors in full. Highlights The Reserve Bank of India further stated that based on the data submitted ..

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RBI imposes Rs 2 crore penalty on SBI

The Reserve Bank of India (RBI) has announced on March 16, 2021 that it has fined India’s largest lending bank “State Bank of India (SBI)” with Rs 2 crore after it failed to follow the regulations in payment of remuneration to its employees through the commissions. Highlights The Reserve Bank of India imposed the monetary ..

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RBI brings State Bank of Sikkim under its regulatory purview

The Reserve Bank of India (RBI) has brought the State Bank of Sikkim under its regulation. State Bank of Sikkim It is a state-owned banking institution. The headquarter of the bank is at Gangtok, Sikkim. It operates under the jurisdiction of the State of Sikkim. The bank handles the banking services as well as the ..

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