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RBI imposes penalty on ICICI bank, Bank Of Baroda

The Reserve Bank of India has imposed monetary penalty on ICICI bank and Bank Of Baroda for violation of its instructions regarding norms on KYC-know your customer and AML-anti money laundering etc. RBI press release informed that Rs 5 million and Rs 2.50 million were imposed on the respective banks...


Oil prices edge higher in Asia

Oil prices edged higher in Asia today after data showed US stockpiles dipping, while the Federal Reserve indicated interest rates would not be hiked until the middle of next year. US benchmark West Texas Intermediate for January delivery rose eight cents to 56.55 dollar while Brent crude for Februar...


Empays' instant money transfer service gets RBI stamp

Empays, a provider company of multi-bank payment systems, has said that its IMT-instant money transfer service has received authorisation from the Reserve Bank of India. The company’s press release issued in Mumbai on Wednesday stated that the Reserve Bank has awarded the IMT payment system certifi...


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"Mann Ki Baat-Part III"

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