T Rabi Sankar, Deputy Governor, RBI, says over time, virtually all securities will fall under the FAR category, and the move is unambiguously towards eventual unfettered access for non-residents into government securities.
Union Bank of India's MD and CEO Rajkiran Rai G said digital lending is changing the banking landscape in a big way because of the availability of data and many ecosystem partners collaborating with banks.
RBI has explained that its action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
Kurla Nagarik Sah Bank: No confidence motion against Chairman
UCB has a history of 15 chairmen, removed in 22 years!
Mired in controversies, the board of directors of the Mumbai based Kurla Nagarik Sahakari Bank is moving a no confidence motion against Kisan Madane, the incumbent Chairman of the bank on Thursday i.e. 20th May 2021.
Additional Registrar Shailesh Kothmire, has called a meeting for the same at the Divisional Commissioner’s Office in Konkan Bhavan today, amidst Covid-19.
Directors against the Chairman allege bank’s Chairman Madane has done nothing for the development of the bank ever since he took over and in the interest of the bank there is a need to change the Chairman. Interestingly, there is no allegation of misappropriation of funds against the Chairman who took over the charge of the bank in February 2020.