All posts tagged "State Bank of India"
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329Capital RegulationVijaya, Dena Banks Start Operating as Bank of Baroda Branches
The state-backed three-way merger of Vijaya Bank, Dena Bank and Bank of Baroda has taken effect, creating India’s third largest lender.
April 1, 2019 -
917EnforcementSWIFT Related Fines Imposed by RBI Total $10mn Across 36 Banks
The number of banks fined by the RBI for failing to integrate their core banking systems with SWIFT has now risen to 36, with fines totaling $10.16mn.
March 11, 2019 -
1.6KEnforcement
UPDATED – RBI Fines Multiple Banks for SWIFT Integration Non-Compliance
The penalties follow directions issued by the RBI in February 2018 requiring banks to link their core banking systems with the SWIFT network.
March 5, 2019 -
1.0KEnforcement
UPDATED – Multiple Indian Banks Penalised for Rule Violations
The latest penalties involve banks' non-compliance with RBI directions on the monitoring of borrowers' end use of loan funds, as well as failures related to KYC/AML compliance.
February 13, 2019 -
428Capital Regulation
RBI Turns Down Bank Requests for Special Classification of IL&FS Loans
Banks will need to provision for IL&FS assets at the standard rate of 15% in the first year in the December quarter and will not get the six month reprieve they had asked for.
January 10, 2019 -
553Asia-PacificMyanmar Allows Local Lending by Foreign Bank Branches
To date, the 13 foreign banks with branches in Myanmar have only been allowed to lend to foreign entities in the country, and only in foreign currencies.
November 13, 2018 -
491EnforcementIndia Probes Metropolitan Stock Exchange for Fraud, Mismanagement
The MSEI is under investigation by the government of India and SEBI for alleged fraud and mismanagement, and has hired a forensic auditor to look into the allegations made by two whistleblowers.
August 6, 2018 -
422EnforcementRBI Under Fire for Failure to Detect $1.8bn Loan Fraud
Central bank audits failed to detect loan fraud using Punjab National Bank guarantees for over seven years; overseas branches which granted loans also under scrutiny.
February 21, 2018
