MONEY & BANKING


Moneylife Digital Team 09 March 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹3.10 lakh on Telangana-based Maanaveeya Development & Finance Pvt Ltd, a non-banking financial company (NBFC), for non-compliance with certain RBI directions related to governance.   According to RBI, the irregularities were detected...

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Moneylife Digital Team 06 March 2026
In a significant move to protect ordinary bank customers from the growing menace of digital payment fraud, Reserve Bank of India (RBI) has proposed a structured compensation mechanism under which individual victims of small-value electronic banking fraud could recover up to 85% of their loss,...

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Moneylife Digital Team 06 March 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹10,000 on Maharashtra-based Samruddhi Sahakari Bank Ltd, located in Nashik, for failing to comply with RBI directions regarding the submission of credit information by credit institutions.   The penalty follows a statutory inspection of...

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Moneylife Digital Team 06 March 2026
Reserve Bank of India (RBI) has revived its earlier order cancelling the banking licence of Shimsha Sahakara Bank Niyamitha, a cooperative bank based in Maddur in Karnataka’s Mandya district, after the related writ petition challenging the decision was withdrawn before the Karnataka High Court....

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Moneylife Digital Team 02 March 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹11.50 lakh on Mumbai-based Mahindra & Mahindra Financial Services Ltd, a non-banking financial company (NBFC), for non-compliance with the directions issued by the banking regulator.   Mahindra & Mahindra Financial Services has been...

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Moneylife Digital Team 28 February 2026
In a major development that sent ripples through the banking sector, Fino Payments Bank Ltd's managing director and chief executive officer (MD&CEO) Rishi Gupta, has been arrested under provisions of the goods and service tax (GST) law. While the board appointed Ketan Merchant, its chief...

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Moneylife Digital Team 27 February 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹7.10 lakh on five cooperative banks for non-compliance with the directions issued by the banking regulator. The highest penalty of ₹3.10 lakh has been imposed on Vita Merchant's Cooperative Bank Ltd from Maharashtra.   Other banks...

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Almost 55 years ago, Rustom Nagarwala impersonated an authority from the prime minister’s office and persuaded a cashier at the Connaught Circus branch of the State Bank of India to part with ₹60 lakh in cash.   The ruse was quickly discovered, the money recovered, and the culprit arrested....

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Moneylife Digital Team 26 February 2026
Public sector banks (PSBs) are exploring the creation of a centralised portal to verify paper-based bank guarantees (BGs) as part of a broader push to transition towards digital issuance and curb fraud linked to physical instruments, according to a report by The Economic Times (ET).   The...

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How long does it take for a regulator in India to respond to bad practices? The answer: A staggering two decades of responding to alarms with pointless tinkering and directions.   On 11 February 2026, the Reserve Bank of India (RBI), finally, released the Commercial Banks – Responsible...

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Neha Joshi (Bar  and   Bench) 18 February 2026
Fugitive businessman Vijay Mallya informed the Bombay High Court on Wednesday that he cannot give a definite date on which he will return to India from the United Kingdom.   This statement from Mallya came in response to a query by the Court about his return to the country, while hearing his...

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Moneylife Digital Team 18 February 2026
The Supreme Court has agreed to examine allegations of undervaluation and irregularity in one-time settlement (OTS) deals entered into by Asian Hotels (North) Pvt Ltd with two public sector banks, Punjab National Bank (PNB) and Bank of Maharashtra, in relation to the five-star Hyatt Regency...

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Bar  and   Bench 18 February 2026
The Allahabad High Court recently emphasized that there cannot be any discrimination or high handedness in the freezing of bank accounts on the instructions of investigating agencies (Tarkeswar Tiwari v State of Uttar Pradesh and 6 Others).   A Division Bench of Justice Atul Sreedharan and...

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Moneylife Digital Team 17 February 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹40,000 on Parner, Maharashtra-based Matoshri Mahila Sahakari Bank Ltd for non-compliance with certain RBI directions related to know-your-customer (KYC) norms.   The statutory inspection of Matoshri Mahila Sahakari Bank, which was...

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Moneylife Digital Team 17 February 2026
Banks across India have collected ₹28,495 crore over the past five years as penal charges from customers for not maintaining the prescribed minimum balance in savings accounts, according to the Fourth Report of the Lok Sabha Committee on Petitions tabled on 17 December 2025.   The report,...

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Moneylife Digital Team 16 February 2026
Creditors of Lavasa Corporation Ltd (Lavasa) have voted decisively in favour of the Welspun-Ashdan consortium to acquire the debt-laden hill town project, marking a significant milestone in one of India’s longest-running real estate insolvency cases. The consortium secured 92.21% of the...

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Jitender Kumar Jain  and   Dr Rajendra M Ganatra 16 February 2026
The debate over spectrum allotment, transfer, and trading in India’s telecom sector has persisted for two decades. During this period, the telecom industry has witnessed the exit of several international players, consolidation among existing operators, and the insolvency of a few telecom...

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Moneylife Digital Team 16 February 2026
Currency in circulation (CiC) in India has climbed to an all-time high of about ₹40 lakh crore as of the fortnight ended 31 January 2026, even as digital payments through unified payment interface (UPI) continue to scale record levels. What makes the development noteworthy is that the increase...

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Moneylife Digital Team 16 February 2026
Reserve Bank of India (RBI) has imposed penalties of ₹1.36 crore on CSB Bank Ltd, Bank of Maharashtra (BoM), DCB Bank Ltd and two non-banking financial companies (NBFCs) for non-compliance with the directions issued by the banking regulator. The highest penalty of ₹63.60 lakh has been imposed...

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Moneylife Digital Team 16 February 2026
Reserve Bank of India (RBI) has cancelled the certificate of registration (CoR) of Lucknow-based Indian Mercantile Cooperative Bank Ltd due to inadequate capital and the lender's poor earnings prospects. RBI has asked Indian Mercantile Cooperative Bank to stop its banking business from 13...

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