16
Sunday
June 2019
8:28 PM IST
News Headlines
Protesting doctors turn down Mamata''s invite for talks, say CM has to apologise first        China supports suspension of Hong Kong''s controversial extradition bill after massive protests        Seven sustain burn injuries as bus catches fire in road accident        CM to raise Kerala''s objection in Niti Aayog meet over handing over Intl Airport to Adani group        Finch''s 153 sets up Australia''s 87-run win over Sri Lanka        Coutinho brace fires Brazil to 3-0 win over Bolivia in Copa America opener        India, SCO members unite to condemn terrorism in Bishkek Declaration        Agitating doctors decline Mamata''s invite for talks        Cyclone Vayu to recurve again; likely to hit Kutch next week        UK court sets Feb 2020 timetable for Assange US extradition trial        Trump blames Iran in tanker blasts, says sea lane not at risk        ENG Pacers, Root set up England''s overwhelming eight-wicket win over West Indies        Tendulkar sues Australian bat manufacturer for $2 mn in royalties        Lee Chong Wei, badminton's beloved nearly man        No pressure as only 1.5 billion people expecting India to win World Cup: Hardik        India ad spend likely to be Rs 697 billion in 2019: Report        No debate set for Hong Kong bill after protests        Trump says would take foreign info on 2020 presidential opponent        Delhi court sends member of Pak-based terror outfit to 5-day NIA custody        Congress pays tributes to 13 people killed in AN-32 crash        
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Business News
RBI imposes Rs 1 lakh penalty on Lucknow-based co-op bank
 
Mumbai, Apr 10 (PTI) The Reserve Bank Wednesday said it has imposed a penalty of Rs 1 lakh on UP Postal Primary Co-operative Bank, Lucknow for violation of norms regarding shifting of its branch.

The RBI had issued a show-cause notice to the bank, in response to which the lender submitted a written reply.

After considering the facts of the case and the bank's reply in the matter and personal hearing, the Reserve Bank of India (RBI) came to the conclusion that the violation was substantiated and warranted imposition of penalty.

The Rs 1 lakh penalty has been imposed on the co-operative bank "for violation of RBI Instructions/Guidelines for shifting of its branch without obtaining prior approval from RBI", the central bank said.

On Tuesday, the RBI had imposed certain restrictions on The Mudhol Co-operative Bank, Bagalkot district, Karnataka till its "financial position improves".

From the close of business on April 8, 2019, the bank has been barred from granting or renewing any loans, make any investments, and acceptance of fresh deposits, without prior approval of RBI in writing.

"In particular, a sum not exceeding Rs 1,000 of the total balance in every savings bank or current account or any other deposit account may be allowed to be withdrawn" subject to conditions stated in the RBI directions, it said.

The RBI, however, added that the directions issued to The Mudhol Co-operative Bank should not per se be construed as cancellation of the banking licence.

The bank will continue to undertake banking business with restrictions till its financial position improves, it added.


India ad spend likely to be Rs 697 billion in 2019: Report
UK court rejects Nirav Modi''s bail for fourth time over fears he would abscond
Bring down corporate tax to 18 pc sans exemptions: CII
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Fiat Chrysler in talks with Aurora on autonomous vehicles
Facebook stops Huawei from pre-installing apps on phones
Rupee rises 31 paise to 69.39 vs USD in early trade
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Six of top-10 firms add Rs 99,994 cr in m-cap; TCS leads
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Toyota Kirloskar sales down 6% at 13,066 units in May
Sitharaman: India's first woman FM; looks to steer economy out of slowdown
Rupee sees high volatility post allocation of key portfolios
Sensex drops over 200 pts; Nifty below 11,900
G20 countries eye tax policy for internet giants: Nikkei
Sensex, Nifty resume record run on F&O expiry
Sensex sheds 248 pts; banking stocks drag
SBI to mop up Rs 5,000 cr by issuing Basel III-compliant bonds
PNB shares continue to fall; tank over 5%
KERALA NEWS
Seven sustain burn injuries as bus catches fire in road accident
 Thiruvananthapuram: Seven people sustained burn injuries when the bus in which they were travelling  
Rahul renews attack on BJP, Modi during ''thanksgiving'' visit to Wayanad
It's Confirmed: 23-year-old boy infected with Nipah
Congress expels Abdullakutty for praising PM Modi
INTERNATIONAL NEWS
China supports suspension of Hong Kong''s controversial extradition bill after massive protests
 Beijing: China on Saturday said it supports the Hong Kong leader''s decision to suspend a controvers
UK court sets Feb 2020 timetable for Assange US extradition trial
Trump blames Iran in tanker blasts, says sea lane not at risk
No debate set for Hong Kong bill after protests
NATIONAL NEWS
Protesting doctors turn down Mamata''s invite for talks, say CM has to apologise first
 Kolkata: Striking junior doctors turned down Chief Minister Mamata Banerjee''s invitation for a meet
Agitating doctors decline Mamata''s invite for talks
Cyclone Vayu to recurve again; likely to hit Kutch next week
Delhi court sends member of Pak-based terror outfit to 5-day NIA custody
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