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 penalty on United Overseas Bank Limited- (Reserve Bank of India) (03 Oct 2019)

MANU/RPRL/0177/2019

Banking

The Reserve Bank of India (RBI) has, by an order dated October 01, 2019, imposed a monetary penalty of ` One crore on United Overseas Bank Limited (the bank) for its failure to comply with the provisions of section 10B of the Banking Regulation Act, 1949 (the Act). 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 Act, taking into account the failure of the bank to adhere to the aforesaid provisions of the Act. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank.

Tags : NON-COMPLIANCE PROVISION PENALTY IMPOSITION

Share :