Penalty

RBI slaps Rs 7 cr penalty on SBI for violating NPA identification, fraud risk management norms

The Reserve Bank of India on Monday said it has slapped a penalty of Rs 7 crore on the country's largest bank SBI for non-compliance with norms related to NPA identification and fraud risk management, among others

GST evasion: 10% of profiteered amount as penalty is draconian when the concept of profiteering itself is nebulous

The Narendra Modi government’s obsession with foiling profiteering under the Goods and Services Tax (GST) law is going on unabated.

National Stock Exchange fines 250 companies for non-compliance with listing regulations

The National Stock Exchange (NSE) Wednesday said it has penalised 250 companies, including two IL&FS group firms and Jet Airways, for non-compliance with various listing regulations for the quarter ended 31 March, 2019

RBI slaps Rs 3 crore fine on Allahabad Bank, ICICI Bank for non-compliance of various norms

The Reserve Bank has imposed a fine of Rs 2 crore on Allahabad Bank for non-compliance of directions with regard to Nostro accounts, the state-owned lender said Tuesday

RBI imposes Rs 5 cr penalty on four public sector lenders for violation of various banking norms

The RBI said the fines are based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers.

RBI slaps Rs 5.2 cr penalties on Axis Bank, UCO Bank and Syndicate Bank for violation of norms

The RBI, however, said the action on banks 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 with its customers

RBI imposes Rs 5 cr penalty on Federal Bank for non-compliance on data reporting of large borrower exposures; other norms

South-based Federal Bank has been penalised Rs 5 crore for non-compliance on reporting of large borrower exposures and non-payment of customer compensations, among other deficiencies, the Reserve Bank said Wednesday.

RBI imposes Rs 1 cr fine on Union Bank of India for delay in fraud detection, reporting

RBI had issued a show cause notice to the bank on 15 January, 2018 asking why a penalty not be imposed on Union Bank of India under the Act.

Delhi Metro collects Rs 38 lakh as fines in 11 months from people sitting on train floors, reveals RTI

Delhi Metro collected Rs 38 lakh as fines over 11 months from those caught sitting on the floor of the train, a Right to Information (RTI) reply has revealed.

Income tax returns filing extended to 31 August: Here's why it is good news for the salaried class

The Modi government must have reckoned with the political consequences of slapping a penalty (euphemistically called fee) of Rs 5,000 even for a day’s delay and come to the sobering conclusion that the salaried class' goodwill is more important than revenue in an election year.