RBI fines Bandhan Bank for not reducing promoter shareholding to 40%

RBI fines Bandhan Bank for not reducing promoter shareholding to 40%

The penalty has been imposed in exercise of powers vested in the RBI under the provisions of the Banking Regulation Act, 1949
Current Affairs:The Reserve Bank of India (RBI) on Tuesday forced a punishment of Rs 1 crore on Bandhan Bank for not cutting down the advertiser shareholding to 40 percent. Bandhan MFI had acquired on a basic level widespread financial permit from the national bank in 2014 and began undeniable tasks as a bank from August 2015.
RBI forced the punishment by virtue of inability to pare the shareholding of Bandhan Financial Holdings Ltd to 40 percent of its paid-up casting a ballot capital, inside three years from beginning of the matter of the bank, the loan specialist said in a BSE documenting.
Bandhan Bank turned out with an IPO and got recorded in March 2018.
The bank had as of late converged with Gruh Finance, which cut down the shareholding of the advertiser from 82.26 percent to 60.96 percent. The moneylender had before said it was attempting endeavors to further diminish the shareholding to 40 percent.
The national bank has additionally forced a fine of Rs 1 crore on Pune-based Janata Sahakari Bank and Rs 25 lakh on Jalgaon Peoples Co-employable Bank efor abusing salary acknowledgment, progresses the executives and resource order standards.
The RBI has forced, by request dated October 16, financial punishment of Rs 1 crore on Janata Sahakari Bank, Pune, for rebelliousness with bearings gave on pay acknowledgment and resource grouping (IRAC) standards, the executives of advances and introduction standards and statutory or different confinements, the national bank said in a discharge on Tuesday.

Comments

Post a Comment

Popular posts from this blog

Five Indian students create AI-powered anti-pollution face mask, nebulizer

Image
Five Indian students create AI-powered anti-pollution face mask, nebulizer Nine out of 10 in the world breathe polluted air, causing as many as seven million deaths every year Technology : Prodded by India’s diligent issue of air contamination, a group of understudies have created man-made brainpower fueled enemy of contamination face veil and a compact nebulizer. The items would help individuals with breathing illnesses like asthma and other ceaseless respiratory maladies. The advancement was created by a group containing Aakash Bhadana, Ishlok Vashishta, Vasu Kaushik, Dipesh Narwat, and Bharat Sundal. Presently, they are altogether adapted to contend at the 2019 Imagine Cup World Championship one week from now facilitated by Microsoft in Seattle, US. The yearly challenge led by Microsoft unites understudies worldwide to help settle a portion of the world’s hardest difficulties. Nine out of 10 on the planet inhale contaminated air, causing upwards of seven million passi...
Read more

India still fast-growing economy with much potential: World Bank economist

Image
India still fast-growing economy with much potential: World Bank economist If you look at the growth of domestic demands that’s slowing much faster than the growth of GDP: World Bank’s Chief Economist for South Asia Current Affairs :India has been moderately hit hard by the ongoing worldwide log jam bringing about its anticipated development dropping to 6.0 percent in 2019, yet it’s as yet a quickly developing economy with a great deal of potential, a top World Bank market analyst said on Sunday. “It’s as yet a quickly developing economy. So even with the ongoing lull, it has development numbers that are higher than in many nations of the world. It’s as yet a quickly developing economy with a ton of potential,” World Bank’s Chief Economist for South Asia Hans Timmer told PTI. In its most recent release of the South Asia Economic Focus, the World Bank said that India’s development rate is anticipated to tumble to 6 percent this monetary. Be that as it may, it said the nat...
Read more

India offers world’s cheapest mobile data packs, reveals UK research

Image
India offers world’s cheapest mobile data packs, reveals UK research While India ($0.26) topped the scale of cheap mobile data, Kyrgyzstan ($0.27), Kazakstan ($0.49), Ukraine ($0.51) and Rwanda ($0.56) completed the top five countries offering the cheapest data packs India offers a portion of the world’s least expensive  mobile data  packs, with the US and UK logging among the most astounding costs, new research in the UK uncovered on Tuesday. Value correlation site Cable.co.uk found that 1 gigabyte (GB) of information cost $0.26 in India, contrasted with $6.66 in the UK. The US had a standout amongst the most costly rates, with a normal expense of $12.37 for a similar measure of information. The worldwide normal came in at $8.53 for 1GB in the investigation, which looked at portable information estimating in 230 nations around the globe. “A nation whose youthful populace has an especially high innovative mindfulness, India offers an  Smart Phone  sho...
Read more