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RBI: Three UCBs penalised; Direction on two extended

The Reserve Bank of India imposed penalties on three urban cooperative banks as well as extended the ....

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Bet big on fintech | Chennai News - Times of India

Chennai lags behind Mumbai and GIFT City in fintech despite a rich banking history. The state govt's Nov 2021 FinTech Policy aims to attract next-gen ....

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RBI Imposes Rs9.25 lakh Penalties on 5 Cooperative Banks for Not Following Rules & Regulations

Reserve Bank of India (RBI) has imposed a penalty of Rs9.25 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. ....

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RBI Imposes Rs89.95 Lakh Penalty on 5 Cooperative Banks for Non-compliance with Directions and Prohibitory Orders

Reserve Bank of India (RBI) has imposed a penalty of Rs89.95 lakh on five cooperative banks for non-compliance with RBI directions or prohibitory orders. The highest penalty of Rs59.90 lakh has been imposed on Nashik-based Janalaxmi Cooperative Bank Ltd. ....

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RBI: A small entity like UCB too can be systemically important, says RBI

RBI deputy governor Swaminathan J countered the notion that a small entity like an Urban cooperative Bank (UCB) is not systemically important. He underscored the importance of governance standards and the inter-connectedness of financial entities. Even a small disturbance can have far-reaching effects and erode public trust. The failure of UCBs in the past highlights the contagion risks posed by smaller banks. UCBs play a critical role in the financial system, serving various sectors of society. Transparent decision-making, accountability, and adherence to best practices are crucial. ....

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