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Category Archives: RBI
IDRBT sets up Information Assurance Center
According to a report in Hindu-Business Line, the Governor of RBI inaugurated a Centre for Information Assurance and Management (CIAM) in association with the State University of New York at Buffalo. The CIAM is expected to function as a “one-stop” resource … Continue reading
Posted in Bank, RBI
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IT Companies vie for business from New Banks
Even before the decision on which of the 26 applicants will get Banking license, Infosys, TCS and Oracle are vieing with each other for supply of Core Banking software to the new Banks. It is estimated that each Bank will … Continue reading
Posted in Bank, RBI
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22 Banks Fined for KYC Failure
22 Banks have been fined by RBI for KYC failures. The fines range from Rs 0.50 lakhs in the case of Ratnakar Bank to rs 3.002 crores in the case of IOB. Most other Banks have been fined between 2.50 … Continue reading
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One More Export Fraud Reported from Delhi
As discussed in this column earlier, one more fraud on an Exporter has been reported from Delhi involving diversion of export proceeds. Report in TOI The loss reported in the Delhi fraud is US$31000 (Rs 18 lakhs). The two other … Continue reading
Posted in Bank, ITA 2008, RBI
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RBI and ECGC should consider trade remittances to Hong Kong as Highly Risky
OPEN LETTER TO RBI AND ECGC To Reserve Bank of India Exchange Control Department Mumbai and ECGC of India Mumbai Sub: Increasing Hong Kong Risk for Importers and Exporters from India Dear Sir I have recently come across two … Continue reading
Posted in Bank, Cyber Crime, ITA 2008, RBI
Tagged cyber fraud, ECGC, Exporter, Importer, RBI
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RBI Faces first challenge in Bank licensing on Aditya Birla Group and Conflict of interest
When the Chairman of a Group which applies for Banking license happens to be a Director of RBI for the last 6 years and continues to be so while the license application is being processed, do we need a second … Continue reading
Posted in Bank, RBI
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