RBI appoints Technical Committee on Mobile Banking

The Reserve Bank of India has announced the constitution of a Technical Committee on Mobile Banking, to examine the options/alternatives including the feasibility of using encrypted SMS based funds transfer using an application that can run on any type of handset for expansion of mobile banking in the country. Terms of Reference of the Committee… Read More

Tags: Chief Information OfficerHDFC bankICICI BankIndiaMobile bankingNational Payment Corporation of IndiaReserve Bank of IndiaUnstructured Supplementary Service Data

8% Savings (Taxable) Bonds, 2003 – Premature Encashment

RBI/2013-14/206 DGBA.CDD. No. 1448/13.01.299/2013-14 August 30, 2013 The Chairman / Managing Director Head Office (Government Accounts Department) State Bank of India and Associates All Nationalized Banks (Excluding Punjab and Sind Bank & Andhra Bank) Axis Bank Ltd./ICICI Bank Ltd./HDFC Bank Ltd./ Stock Holding Corporation of India Ltd. (SHCIL) Dear Sir/Madam, 8% Savings (Taxable) Bonds, 2003… Read More

Tags: Axis BankBondsGovernment of IndiaHDFC bankICICI BankIndiaInterestState Bank of India

RBI penalises Axis Bank, HDFC Bank and ICICI Bank

The Reserve Bank has imposed a monetary penalty on Axis Bank, HDFC Bank and ICICI Bank for violating Reserve Bank of India instructions. The details of the penalty are: Bank Penalty amount (` in lakh) Axis Bank Ltd. 500.10 HDFC Bank Ltd. 450.00 ICICI Bank Ltd. 100.10 The penalties have been imposed in exercise of powers… Read More

Tags: Axis BankHDFC bankICICI BankKnow Your CustomerKYCmoney launderingReserve BankReserve Bank of India

Unpaid and Unclaimed Dividends with Companies

According to data available on the ˜MCA21™ portal of the Ministry of Corporate Affairs, an amount of Rs.1,101.35 crore is presently available with 1,406 companies on account of unpaid and unclaimed dividends. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corporate Affairs, said that… Read More

Tags: Godrej Consumer Products LimitedHDFC bankICICI BankIndiaMahindraMahindra & Mahindra LimitedTata Consultancy ServicesTata Power

First Interoperable RFID Technology Based Electronic Tolling System Launched

Dr. C P Joshi Rolls Out Electronic Toll Collection on Vadodara Mumbai Section of NH-8 Dr. C P Joshi, the Union Minister for Road Transport and Highways dedicated to the Nation today, the first interoperable Radio Frequency Identification Device (RFID) technology based Electronic Tolling System at Charoti Toll Plaza, Dahanu in Thane District, Maharashtra. The… Read More

Tags: Electronic Toll CollectionICICI BankNational Highways Authority of IndiaRadio-frequency identificationRFIDToll PlazaToll roadVadodara

RBI initiates Scrutiny of Three Banks for Alleged KYC/AML Guidelines

The Reserve Bank of India has initiated the process of carrying out comprehensive scrutinies covering both, Head Office and branches of three private sector banks, namely, ICICI Bank, HDFC Bank and Axis Bank. Apart from this, the Reserve Bank has also undertaken a thematic study in respect of banks that are active in selling gold… Read More

Tags: Axis BankForeign Exchange Management ActHDFC bankICICI BankModern Language Associationmoney launderingPrevention of Money Laundering Act 2002Reserve Bank of India

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