ParkRiver
  • What’s New
  • Market
  • Global
  • Finance

Subscribe to Updates

What's New

These are the best-performing S&P 500 stocks this week. Here’s where analysts see them going

Best online brokers in Canada for 2022

What's Hot

These are the best-performing S&P 500 stocks this week. Here’s where analysts see them going

Best online brokers in Canada for 2022

Facebook Twitter Instagram Pinterest Tumblr LinkedIn Reddit
Facebook Twitter Instagram
ParkRiverParkRiver
  • Whats-New
  • Global
  • Market
  • Finance
  • Resources
  • Special
  • Opinion
Subscribe
ParkRiver
Home»Banking»RBI imposes penalty of ₹82 lakh on Jupiter Capital, ₹32 lakh on Indian Bank

RBI imposes penalty of ₹82 lakh on Jupiter Capital, ₹32 lakh on Indian Bank

Banking
Share
Facebook Twitter LinkedIn Pinterest Tumblr Reddit VKontakte Telegram WhatsApp

The RBI has imposed a penalty of ₹82 lakh on Bengaluru-based Jupiter Capital Private Ltd, for breach of norms on submission of credit information.

The central bank had conducted statutory inspections of the company with reference to its financial position as on March 31, 2020 and March 31, 2021.

These revealed that the non-bank lender had not complied with regulatory directions pertaining to submission of credit information to Central Repository of Information on Large Credits, submission of credit information data to Credit Information Companies, RBI said in a release today.

The provisions fall under directions issued by RBI under ‘Non-Banking Financial Company Returns (Reserve Bank) Directions, 2016’ and ‘Membership of Credit Information Companies (CICs)’, it added.

Indian Bank

RBI today also imposed a fine of ₹32 lakh on Indian Bank for breach of directions on classification and reporting of frauds.

The Statutory Inspection for Supervisory Evaluation (ISE) of the bank was conducted by RBI with reference to its financial position as on March 31, 2019. The examination of the Risk Assessment Report, Inspection Report and all related correspondence revealed that Indian Bank was in violation of certain provisions of RBI (Fraud classification and reporting by commercial banks and select FIs) Directions, 2016.

“The bank failed to comply with the above-mentioned directions to the extent it furnished flash report to RBI in certain instances with delay,” the release said.

Published on

August 06, 2022

Keep Reading

Share. Facebook Twitter Pinterest LinkedIn Tumblr Reddit VKontakte Telegram WhatsApp

Related Posts

6 high-profile crypto exchanges under ED lens for helping Chinese funnel funds abroad

Govt to issue new 10-year G-Sec at next Friday’s auction

CoinDCX plans to expand product portfolio

Banks, agents can call borrowers only between 8 am and 7 pm: RBI

Add A Comment

Leave A Reply Cancel Reply

Editors Picks

ඔන්ලයින් මුදල් ණය ශ්‍රී ලංකාව: ක්ෂණික මුදල් ණය මාර්ගගතව

PJF Performance Premium 76 Inch Extended-Length Resistance Band for Strength, Mobility, and Plyometric Exercises

Green Line Weekly! Aug 7, 2022

Strong returns are hard to find in 2022. Three tax savings strategies to sock away a few bucks

Latest Posts

These are the best-performing S&P 500 stocks this week. Here’s where analysts see them going

Best online brokers in Canada for 2022

Morgan Stanley Bullish on These 2 Stocks for at Least 40% Upside; Here’s Why

Can Europe avoid the energy bill apocalypse?

Subscribe to Updates

Navigation
  • Opinion
  • Resources
  • Special
  • Stock
Coverage
  • What’s New
  • Market
  • Global
  • Finance
Resources
  • Business
  • Economy
  • Banking
  • Investing
© 2022 ParkRiver. Designed by ThemeSphere.

Type above and press Enter to search. Press Esc to cancel.