Eight PSU banks fined by RBI for violating regulatory norms

Agencies
August 3, 2019

Mumbai, Aug 3: The Reserve Bank of India (RBI) has imposed a penalty ranging between Rs one crore to two crore on eight government-owned banks for violating norms on fraud classification, bill discounting and monitoring of end use of funds.

Bank of Baroda, Bank of India, Indian Overseas Bank and Union Bank of India were fined Rs 1.5 crore each while Allahabad Bank and Bank of Maharashtra were penalised Rs 2 crore each. Oriental Bank of Commerce was penalised with Rs 1 crore, the central bank.

"A scrutiny was carried out by RBI in the accounts of the companies of a group and it was observed that the banks had failed to comply with provisions of one or more of the directions issued by RBI," it said in a statement late on Friday.

"Based on the findings of the scrutiny, notices were issued to the banks advising them to show cause as to why penalty should not be imposed for non-compliance with the directions."

In a separate statement, the regulator said a fine of Rs 1 crore was levied on Corporation Bank for non-compliance of norms on cyber security framework as well as fraud classification and reporting.

"A report of cyber security incident submitted by the bank about fraudulent transactions using a cancelled debit card revealed that the bank had failed to comply with the directions issued by RBI on Cyber Security Framework in Banks and Frauds Classification and Reporting by commercial banks and select FIs," the statement said.

The RBI clarified that the decision of imposing the monetary penalty is taken after the failure of banks to adhere to its directions. The action is based on the 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.

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News Network
March 19,2020

Mar 19: Amidst spiralling cases of COVID-19 in the country, Union Minister of State for Health and Family Welfare Ashwini Kumar Choubey on Thursday advocated "absorbing sunlight" as a possible precaution against coronavirus that has claimed over 8,000 lives globally.

Speaking to reporters outside parliament, Choubey said 10-15 minutes in the sun would build immunity as sunlight provides Vitamin D.

"From 11 am to 2 pm the sun is shining brightly. We should spend at least 10-15 minutes to absorb sunlight so that we get vitamin D which improves the immunity of our body and also kills such viruses. All should be aware of (this fact)," he said when asked about the spread of coronavirus.

COVID-19 cases in India climbed to 169 on Thursday after 18 fresh cases were reported from various parts of the country, according to the Union health ministry.

The cases include 25 foreign nationals -- 17 from Italy, 3 from the Philippines, two from the UK, one each belonging to Canada, Indonesia and Singapore.

The figure also includes three deaths reported from Delhi, Karnataka and Maharashtra so far.

According to the World Health Organisation, the novel coronavirus has killed over 8,000 people globally and infected more than two lakh.

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Agencies
February 20,2020

New Delhi, Feb 20: Hitting out at the Bharatiya Janata Party (BJP), Congress leader Sachin Sawant on Thursday said that the same BJP who tried to pressurise government lawyers so that the accused in the Malegaon bomb blast case, Samjhauta express case can be let off are now demanding that there should be a re-investigation in the 26/11 terror attacks, this is the biggest irony.

"By demanding that the case be re-investigated the BJP which gave a ticket to Pragya Thakur who was accused in the Malegaon blast case, has insulted all those brave police, the army who fought bravely. BJP should apologise to all those people," he said.

"If the BJP were serious about re-investigating the case why didn't they do it when they were in power in the state and the Centre? Was the government sleeping for the last five years? asked Maharashtra Congress committee's general secretary, Sachin Sawant.

"Rather than this, the BJP should ask for a fair inquiry in the incident where a Kashmir police officer Davindar Singh was caught in the company of terrorists and also, the role of the Sangh Parivar in the Malegaon Blasts," said Sawant.

Sawant said that BJP has crossed all limits while lying and it has stooped to the lowest levels of political discourse and is not thinking twice before defaming the Opposition.

In the book written by the retired police officer Rakesh Maria doesn't have anything other than what was there in the charge sheet on Ajmal Kasab. In his confession, Kasab has said that he was given an ID card with a Hindu name and also a red coloured thread by the Lashkar-e-taiba.

Because of this forged identity, they would be able to dodge the police. All these details have been clearly mentioned in the Kasab's confession.

Maria has mentioned in his book that if Kasab was not caught alive, the media would have declared him as a Hindu. Maria hasn't said that there was any kind of government pressure or any other conspiracy behind it. He was only talking about the media and also given all the details in the charge sheet. The BJP is only using this as a political tool in their low-class politics.

The leader added that, "The letter written by BJP MLA Atul Bhatkhalkar to CM Uddhav Thackeray has crossed all limits of lying. The Congress government in Maharashtra had formed a committee under retired home secretary Ram Pradhan to probe the 26/11 attack."

On the basis of an interview given by Ram Pradhan to a national daily on the 10th anniversary of the 26/11, he has levelled baseless allegations on former Central Home minister P Chidambaram, he added.

Bhatkhalkar in his letter has said that Chidambaram had asked Ram Pradhan to not to disclose the local connection that was found in the conspiracy. In fact, there is no such mention in the interview given by Ram Pradhan. Pradhan has said in the interview that Chidambaram wanted to see the report. Hence along with the report, some sensitive information was sent to the department separately and those were overlooked. After some time news related to David Headley had surfaced.

Ram Pradhan committee was not set up by the Centre but was set up by the state government and so it was not mandatory for the Centre to inform Ram Pradhan whether cognisance was taken regarding the sensitive information.

"In was during the Congress government that the first terrorist was caught alive due to the bravery of the police force and after following all the due procedures a verdict to hang him was given," said Sawant..

"Everyone has appreciated India's legal system in which even a terrorist was allowed to give his side," he added.

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News Network
March 11,2020

Mar 11: Thirteen of the 22 rebel MLAs in Madhya Pradesh have given an assurance that "they are not leaving the Congress", senior party leader Digvijaya Singh said on Thursday while expressing confidence that the Kamal Nath-led government in the state will win a floor test.

"We are not keeping quiet. We are not sleeping," Singh told PTI, a day after Congress leader from the state Jyotiraditya Scindia quit the Congress and 22 MLAs submitted their resignations from the assembly in Madhya Pradesh.

Scindia was offered the post of Madhya Pradesh deputy chief minister but wanted his nominee, Singh said. However, Kamal Nath refused to accept a "chela", he said.

Scindia, he said, could have been a Congress nominee to the Rajya Sabha but "only Modi-Shah" can give a Cabinet post to the "over-ambitious" leader.

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