RBI has imposed a monetary penalty of ₹25 lakh on Axis Bank Limited for violation of rules.
The monetary penalty was imposed for “contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India – (KYC) Direction, 2016".
The penalty on Axis Bank has been imposed under the Banking Regulation Act, 1949.
RBI will set up a committee to scrutinise applications and give recommendations on new umbrella entity (NUE) licences, people aware of the development said.
The five-member committee will be headed by RBI chief general manager P Vasudevan.
NUEs will establish their own payment infrastructure to compete with National Payments Corp. of India (NPCI).
RBI imposed a monetary penalty of Rs 1 lakh on the Kosamba Mercantile Co-operative Bank Ltd for violation of rules.
The bank didn't comply with certain directions issued by RBI on ‘Loans and advances to directors, relatives, and firms'.
The statutory inspection of the bank conducted by RBI revealed that the bank had sanctioned loans to relatives of a director.
Praveen Kumar won silver in the men's high jump T64 event with a new Asian record jump of 2.07m.
India's medal tally now stands at 11 in this Paralympics. It has now won two golds, six silvers and three bronzes.
This is India's best tally at a single edition of the Para Games.
It had won four medals at Rio 2016 and four at the 1984 Paralympics.
Britain's Jonathan Broom-Edwards won gold.
Poland's Maciej Lepiato won bronze.
Rajya Sabha Chairman M Venkaiah Naidu appointed Dr PPK Ramacharyulu, who is secretary in the Rajya Sabha Secretariat since 2018, as the secretary general.
He succeeds Desh Dipak Verma, who demitted office as secretary general after serving the post for four years.
Parasaram Pattabhi Kesava Ramacharyulu is the first insider to have risen from the ranks of the secretariat.
The Ministry of Electronics and Information Technology (MeitY) has launched the country’s first ‘Quantum Computer Simulator (QSim) Toolkit’.
Quantum Computing is a rapidly emerging computational paradigm which can perform a variety of tasks with greater speed and efficiency than present day digital computers by harnessing the power of Quantum Mechanics.
QSim is a first-of-its-kind toolkit to be indigenously developed
India has added 557 new species to its fauna, which includes 407 new species and 150 new records, reveals Animal Discoveries 2020, a document published recently by the Zoological Survey of India.
The number of faunal species in India has climbed to 1,02,718 species with the discovery of the news species. India is the world’s 8th highest ‘mega biodiverse’ country.
Satellite narrowband Internet of Things(NB-IoT) solution Skylo launched ‘Fish Catch Report’ for the fishermen community to help initiate the selling process even before they dock boats on the shore.
The Fish Catch Report is a mobile communications solution and leverages the Skylo network,offered in partnership with the state-run BSNL and Britain’s Inmarsat to provide safety
New steps to tackle climate change and boost investment were announced at the 11th India-UK Economic and Financial Dialogue (EFD) between FM Nirmala Sitharaman and UK Chancellor Rishi Sunak, driving forward the bilateral agenda of an Enhanced Trade Partnership.
They signed off a USD 1.2-billion package of public and private investment in green projects and renewable energy.
State-owned engineering consultancy firm Engineers India Ltd (EIL) announced Vartika Shukla has assumed charge as the first woman Chairperson & Managing Director of the company.
Shukla joined EIL in 1988 and possesses consulting experience comprising Design, Engineering and implementation of complexes in Refining, Gas Processing, Petrochemicals, Fertilizers sectors.
IIMA will now train senior executives of organisations functioning under the Department Atomic Energy (DAE).
The IIMA signed a MoU with the Homi Bhabha National Institute (HBNI), which falls under the DAE.
As per the agreement, the IIMA will offer custom-designed 'Sarabhai Management Development Programme' for senior executives of DAE organisations.
The Ministry of Environment, Forest and Climate Change notified the eco-sensitive zone of the Deepor Beel Wildlife Sanctuary on the south-western edge of Guwahati.
Deepor Beel is one of the largest freshwater lakes in Assam and the state’s only Ramsar site in addition to being an important area for birds.
The wetland has been threatened for decades by the rubbish dump
The Centre has constituted a committee headed by Ashish Shiradhonkar, who is heading the e-courts project in National Informatics Centre, to develop a technological platform streamlining the appeal filing process related to direct and indirect taxation matters.
The Supreme Court said Ashish is the backbone of the e-court project and will streamline the Centre's litigation
Himachal Pradesh has achieved a unique distinction of achieving cent percent target of first dose of Covid-19 vaccination above the age of 18 years.
Prime Minister Narendra Modi has congratulated the State Government and has agreed to address the people of the State on 6th of September.
The New Development Bank (NDB) established by the BRICS (Brazil, Russia, India, China and South Africa) countries in 2015 has approved Bangladesh as its new member.
The NDB Board of Governors initiated the negotiation to expand its membership in 2020.
It has now approved the United Arab Emirates, Uruguay and Bangladesh as its first new member countries.
The first commercial shipment of Apricot sourced from the Union Territory of Ladakh has been exported to Dubai.
The consignment of Apricot was transshipped from Leh, Ladakh to Mumbai prior to being exported to Dubai.
APEDA has been working to establish an export value chain for Ladakh Apricot in association with an importer Group based in Dubai.
India is going to host a very important conference on the International Climate Summit 2020-21.
Director of CSIR, National Chemical Laboratory, Dr. Ashish Lele has underlined the importance of the conference for the future mitigation strategies of climate change.
The need to adopt these strategies and the problems arose due to dependence on conventional fuels.
Power Grid Corporation of India Limited (POWERGRID), a Maharatna CPSU under Ministry of Power, GoI has been awarded the coveted “Association for Talent Development (ATD) 2021 BEST Award'' securing 8th rank among the 71 organizations from around the globe, thus becoming the only PSU to win this award and one of the only two companies of India in Top 20.
Vasoo Paranjape, the former Mumbai player and renowned coach passes away at the age 82. He scored 785 runs in 29 first-class matches representing Mumbai and Baroda.
He played a crucial role in shaping the careers of Sunil Gavaskar, Dilip Vengsarkar, Sanjay Manjrekar, Rahul Dravid, Sachin Tendulkar, Yuvraj Singh and Rohit Sharma, among others.
Veteran journalist and two-term Rajya Sabha MP Chandan Mitra passes away.
The 66-year-old former BJP MP who had been the editor-in-chief of The Pioneer.
A year into heading The Pioneer, its then owners, the Thapar Group, handed over the newspaper to Mitra in 1998.
Popular television and film actor Sidharth Shukla, best known for his role in the long-running TV show ‘Balika Vadhu’, passed away. He was 40.
According to Mumbai’s Cooper Hospital, the cause of death is yet to be ascertained. He is survived by his mother and two sisters.
