The Reserve Bank of India has revised its master direction on Know Your Customer (KYC) for regulated entities to incorporate amendments to the Prevention of Money Laundering rules. What is the purpose of "Ongoing Due Diligence" as per the amendments to the KYC rules?
The Reserve Bank of India (RBI) has imposed penalties on two private-sector lenders – ICICI Bank and Kotak Mahindra Bank. ICICI Bank was fined Rs 12.19 crore as the regulator found from its Inspections for Supervisory Evaluation (ISE) for its financial position as on March 31, 2020, and March 31, 2021, that the bank sanctioned/committed loans to firms in which two of its directors were also directors. ICICI Bank was also found marketed and engaged in the sale of non-financial products and failed to report frauds to the RBI within the prescribed timelines. Kotak Mahindra Bank was fined Rs 3.95 crore as it levied foreclosure charges despite there being no clause in the loan agreement for levy of prepayment penalty on loans recalled/foreclosure initiated by the bank.
Which of the following statements is true?
From the following information calculate the amount of sales to earn a desired profit of Rs.6,000
Fixed Cost: 12,000
Selling Price: 12 per...
While computing exemption in respect of gratuity received by a non-Government employee covered by the Payment of Gratuity Act, one of the items to be co...
A type of market where debt and stocks are traded and maturity period is more than a year is known as
__________ is a systematic examination of the books and records or a business
GeM is characterized by which of these three core elements?
For intra-State sales, the GST is divided between the Centre and the State in the ratio?
Interest payable by a non-corporate assessee for deferment of advance tax is
How much percentage of salary is allowed for exemption in House rent allowance Section 10(13A) in case of metro city?
Which of the following account has a Credit Balance?
