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RBI imposes monetary penalty on Ujjivan Small Finance Bank and Shriram Finance
RBI imposed a ₹6.70 lakh penalty on Ujjivan Small Finance Bank Limited for failing to comply with the RBI’s guidelines on Loans and Advances - Statutory and Other Restrictions.
RBI greenlights Kotak Mahindra Bank: Digital onboarding & credit card issuance resumes!
After reviewing the audit findings and compliance submissions, the RBI found the bank’s corrective actions satisfactory and revoked the restrictions.
MobiKwik launches India’s first full-scale e₹ wallet in partnership with RBI and Yes Bank
The e₹ wallet allows a daily transaction limit of ₹50,000 and a per-transaction limit of ₹10,000.
Supreme Court allows banks to charge over 30% on credit card dues
The decision came after appeals were filed by Citibank, American Express, HSBC, and Standard Chartered Bank against the NCDRC's 2008 ruling, which had held that the interest rates charged by these banks, ranging from 36% to 49% per annum, were exploitative.
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