SC: Under RTE Act, States Cannot Justify Low Teacher Pay by Citing Centre’s Failure to Release Funds || Supreme Court: While a Child’s Welfare is Paramount, It is Not the Sole Factor in Custody Disputes || Supreme Court: High Court Cannot Reject a Plaint While Exercising Jurisdiction under Article 227 || SC: Merely Leasing an Apartment Does Not Bar a Flat Buyer’s Consumer Complaint Against the Builder || Delhi HC: Unproven Adultery Allegations Cannot be Used to Deny Interim Maintenance under the DV Act || Bombay HC: Storing Items in a Fridge isn’t Manufacturing and Doesn’t Make Premises a Factory || Kerala HC: Disability Pension is Not Payable if the Condition is Unrelated to Military Service || Supreme Court: Award Valid Even If Passed After Mandate Expiry When Court Extends Time || Jharkhand HC: Regular Bail Plea During Interim Bail is Not Maintainable under Section 483 BNSS || Cal HC: Theft Claims and Public Humiliation Alone Don’t Amount To Abetment of Suicide U/S 306 IPC

Reserve Bank of India imposes monetary penalty on FINO Payments Bank Limited- (Reserve Bank of India) (05 Nov 2018)

MANU/RPRL/0105/2018

Banking

The Reserve Bank of India (RBI) has, on October 31, 2018, imposed a monetary penalty of Rs. 10 million on FINO Payments Bank Limited (the bank) for contravention of the direction to stop opening of new accounts until further instructions on account of violation of certain licensing conditions and operating guidelines for payments bank. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A (1) (c) read with Section 46 (4) (i) of the Banking Regulation Act, 1949.

Tags : PENALTY IMPOSITION BANK LIMITED

Share :