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RBI announces ombudsman scheme to address complaints against NBFCs

The Reserve Bank of India (RBI) on Friday brought non-banking financial companies (NBFC) under an Ombudsman Scheme, by which an aggrieved person can file a complaint against an NBFC. 257 more words

PNB, others argue over RBI rules on credit facilities for import of pearls

A grey area in the Reserve Bank of India (RBI) guidelines on credit facilities for import of pearls has led to a conflict between public sector  244 more words

Scam-hit PNB says it has transferred 1,415 employees since Feb 19

State-owned Punjab National Bank, which is hit by “Letter of Undertaking” fraud, has transferred over 1,400 employees since February 19, 2018 following advisory from Central Vigilance Commission (CVC).The Delhi-based lender claimed these transfers were made as per prevailing rotational transfer policy of the bank and that these transfers have not affected the branch operations.Bank has transferred 721 officers, 437 clerks and 257 sub-staff, taking total number of employees being transferred to 1,415. 133 more words

Rs 114-bn PNB scam: Spotlight back on hawala trade in diamond industry

With the diamond industry going through a rough patch and two of its big names — Mehul Choksi and Nirav Modi — accused of fraudulent activities, the issue of illegitimate channels such as  244 more words

Really painful: Letter to BS on RBI forms panel to curb banks fraud 

It has been reported that the Reserve Bank of India (RBI) is setting up a panel to curb bank fraud. It is ridiculous to set up a panel by the  228 more words

"अब पछताए होत क्या,जब मोदी चुग गयो बैंक "

आजकल जहाँ देखो एक ही चर्चा…नीरव मोदी काण्ड!! चर्चा होनी भी लाज़मी है,और हो भी क्यों न? आखिर देश के करोड़ो लोगो की मेहनत का पैसा अगर ऐसे डूबेगा, तो हंगामा होना भी  चाहिए.


RBI says had issued warnings on possible misuse of SWIFT system

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MUMBAI – The Reserve Bank of India on Tuesday said it had alerted unidentified banks about the need to prevent any “potential malicious use of the SWIFT infrastructure” at least three times since August 2016, but added lenders had not fully implemented all of the required measures. 118 more words

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