Page 3 - Penalty

RBI imposes fine on 8 urban co-operative banks for breach of various norms

Penalty has been imposed on Mehsana Urban Co-operative Bank for non-compliance with certain provisions of the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016.

448 notices served to e-commerce entities for violations of declaration

As many as 448 notices were served to e-Commerce entities for violations of the declaration during the last one year and nine months and approx Rs 78 lakh penalty was charged from companies

Legal heir bound by law to file deceased's tax return for year of death

Failure to do so can result in penalties for the legal heir

Arunachal to impose fine, cancel licence if eateries don't remove 'beef'

The Naharlagun district administration in Arunachal Pradesh has asked all the hotels and restaurants in the state to remove the word 'beef' from their signboards

RBI fines Ola Financial Services Rs 1.67 cr for not following directions

Ola Financial Services was found to be non-compliant with the directions issued by RBI on KYC requirements

Sebi slaps Rs 12 cr penalty on Sahara group firms in OFCD issue matter

Asserts that by representing the OFCD as pvt placement, issuers deprived subscribers of various measures of investor protection

Sebi slaps Rs 23 lakh penalty on 3 people for misrepresentation of funds

Capital markets regulator Sebi on Wednesday imposed penalties totalling Rs 23 lakh on 3 individuals in a case related to misrepresentation in the financial details of Indian Infotech and Software Ltd

Fidelity front running: Sebi slaps over Rs 4.28 cr penalties on 11 entities

Sebi on Friday slapped penalties worth more than Rs 4.28 crore on 11 entities for front running trades of 21 Fidelity Group entities besides barring them from the securities market for varying periods

Sebi imposes penalty of Rs 1 cr on IIFL for misusing client securities

Capital markets regulator Sebi on Friday imposed a penalty of Rs 1 crore on India Infoline Ltd (IIFL) for misutilisation of client securities. The amount has to be paid by IIFL within 45 days. The order came after Sebi conducted multiple inspections of the books of accounts of IIFL, now known as IIFL Securities, for the period April 2011 to January 2017. Based on the findings, the market watchdog initiated adjudication proceedings. "It was found that the noticee (IIFL) had misused client funds in the range of Rs 0.59 crores to Rs 397.02 crores for settlement obligation of debit balance clients and in the range of Rs 0.26 crores to Rs. 73.28 crores for proprietary purposes, in addition to settlement obligation of debit balance clients," Sebi said. In addition, the interest on funds misused by the noticee amounted to Rs 34.87 crore, it added. Further, the noticee has not settled the funds of clients during the inspection period as mandated by Sebi. Consequently, the market watchdo

RBI imposes Rs 2.97 million penalty on Unimoni Financial Services

A show-cause notice was issued to Unimoni Financial Services. The penalty was imposed after considering the company's response

RBI imposes penalties of Rs 93 lakh each on Axis and IDBI Bank

A monetary penalty of Rs 93 lakh has been imposed on Axis Bank for non-compliance of certain directions issued by RBI, the regulator said in a release

Delhi Police to pay double penalty if found flouting traffic norms

Delhi Police personnel who flout traffic norms in the capital will have to shell out double the penalty, according to an official order.

Chitra Ramkrishna's fall from grace: 'Queen of bourses' to Rs 3-cr penalty

Ramkrishna was the third woman to head an exchange in the Asia-Pacific region after Sri Lanka's Colombo Stock Exchange and China's Shenzhen Stock Exchange

Peanut penalty and reputation risks for banks

Is it becoming a routine affair, like being fined by the traffic police for jumping the red light or by a TTE for travelling without a ticket on a Mumbai local?

RBI penalises Paytm Payment Bank and Western Union Financial Services

RBI imposed a monetary penalty of Rs 1 crore on Paytm Payments Bank

RBI imposes Rs 30 lakh penalty on Janata Sahakari Bank, Pune

The RBI on Monday said a penalty of Rs 30 lakh has been imposed on Janata Sahakari Bank Ltd, Pune for non-compliance with certain directions

RBI imposes Rs 79 lakh penalty on Mumbai-based Apna Sahakari Bank

The Reserve Bank has imposed a penalty of Rs 79 lakh on Apna Sahakari Bank, Mumbai for non-compliance with certain directions, including on NPA classification

Reserve Bank penalises Spice Money, Kuppam Co-op Town Bank

The Reserve Bank on Tuesday said it has imposed a penalty of Rs 2.44 lakh on Spice Money Limited for contravention of certain norms

RBI imposes Rs 6 crore penalty on four White Label ATM operators

The RBI on Friday said it has imposed penalties totalling Rs 6 crore on four White Label ATM operators for deficiencies in regulatory compliance

RBI imposes Rs 15 lakh penalty on Baghat Urban Co-operative Bank, Solan

The RBI on Wednesday said it has imposed a penalty of Rs 15 lakh on The Baghat Urban Co-operative Bank Limited, Solan, for violation of certain norms, including, those related to NPA classification