The penalty follows a comprehensive statutory inspection conducted by the RBI regarding the Halol Urban Co-operative Bank's financial status as of 31 March 2022
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The penalty is a result of the powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act
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The payment platform, One MobiKwik Systems, has reduced its planned issue size from Rs 1,900 crore to Rs 700 crore
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An internal circular emphasised a focus shift solely towards the bank's business parameters, instructing a halt on campaigns with channel partners and local training programmes for field personnel until 31 March 2024
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Public sector banks also displayed positive growth: Central Bank of India reported a 15 per cent uptick in advances and a 10 per cent growth in deposits, while Bank of Maharashtra observed a 20 per cent increase in advances and an 18 per cent rise in deposits
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Akansha transitioned to Kotak Mahindra Bank from her previous role at Piramal Capital and Housing Finance
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The domestic advances and deposits exhibited a 10.69 per cent year-on-year climb (reaching Rs 8,66,689 crore) and an 8.54 per cent year-on-year rise (reaching Rs 11,54,326 crore), respectively
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The proposal stipulates that commercial banks must maintain a minimum total capital adequacy of 11.5 per cent to be eligible for declaring dividends
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