RBI inspects, fines Axis, IOB millions of rupees!

RBI inspects, fines Axis, IOB millions of rupees!

Mumbai :The Reserve Bank said it has imposed a penalty of Rs 3 crore on Axis Bank for violation of NPA classification norms, and Rs 2 crore on Indian Overseas Bank for not complying with the KYC regulations, says a PTI report (March 5). RBI said it had carried out a statutory inspection of private […]

₹ 200 Bank note will help ease demonetization gap

₹ 200  Bank note will help ease demonetization gap

NEW DELHI: The central bank will soon issue 200-rupee note the Finance Ministry has confirmed today. The move will help fill the vast demand for cash after the notes ban, which wiped out over 85 per cent of the cash in circulation. The Finance Ministry, in a notification, said that on the recommendations of the […]

More fake notes surface in another Delhi ATM

More fake notes surface in another Delhi ATM

New Delhi, Mar 9 (PTI) In yet another case in a month, an automated teller machine in south Delhi’s Amar colony area dispensed a fake Rs 2,000 currency note with “Children Bank of India” printed on it, police said today. The fake bank note of Rs 2,000 denomination was dispensed from a private bank ATM […]

RBI vs EC: RBI Refuses to raise cash limit for Assembly contestants

RBI vs EC:  RBI Refuses to raise cash limit for Assembly contestants

New Delhi: Is it the Chief Election Commissioner versus the Governor of the Reserve bank? The EC asked the Reserve Bank to raise the cash withdrawal limit for those contesting Assembly Polls. RBI refused point blank! The Reserve Bank of India (RBI) has rejected the request of the Election Commission to enhance the weekly cash-withdrawal […]