MUMBAI, India, March 27 -- Reserve Bank of India issued the following press release: Reserve Bank of India (RBI) has been periodically preparing Payments Vision since 2001. This includes providing strategic direction for structured development of the payment and settlement systems in India. The previous such document covered the period up to 2025. 2. RBI has today released 'Payments Vision 2028' for the duration up to December 2028. It has been prepared after considering inputs from various st...
MUMBAI, India, March 27 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated March 23, 2026, imposed a monetary penalty of ₹95.40 lakh (Rupees Ninety Five Lakh Forty Thousand only) on Union Bank of India (the bank) for non-compliance with certain directions issued by RBI on 'Limiting Liability of Customers in Unauthorised Electronic Banking Transactions', and 'Automation of Income Recognition, Asset Classification and Provisio...
MUMBAI, India, March 27 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated March 23, 2026, imposed a monetary penalty of ₹58.50 lakh (Rupees Fifty Eight Lakh Fifty Thousand only) on Bank of India (the bank) for non-compliance with certain provisions of the directions issued by RBI on 'Priority Sector Lending (PSL) - Targets and Classification' and 'Interest Rate on Deposits'. This penalty has been imposed in exercise of powe...
MUMBAI, India, March 27 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated March 23, 2026, imposed a monetary penalty of ₹63.60 lakh (Rupees Sixty Three Lakh Sixty Thousand only) on Central Bank of India (the bank) for non-compliance with certain provisions of directions issued by RBI on 'Know Your Customer (KYC)' and 'Financial lnclusion - Access to Banking Services - Basic Savings Bank Deposit Account (BSBDA)'. This penalt...
MUMBAI, India, March 27 -- Reserve Bank of India issued the following press release: Legal Entity Identifier (LEI) and Unique Transaction Identifier (UTI) are key data elements identified globally for reporting of OTC derivative transactions. While LEI uniquely identifies the counterparties to a transaction, UTI serves as a single unique reference number for the transaction. Over the years, the Reserve Bank has issued instructions mandating reporting of LEI for transactions in the financial m...
NEW DELHI, March 27 -- The Government of India issued the following FEMA circular: RBI/2025-26/252 A.P. (DIR Series) Circular No. 24 March 27, 2026 To, All Authorised Persons Madam/Sir, NOP-INR position of Authorised Dealers Attention of Authorised Dealers is invited to the Master Direction - Risk Management and Inter-Bank Dealings dated July 05, 2016, as amended from time to time. In terms of paragraph A (ii) (a) of Annex I of the Master Direction, the Reserve Bank may prescribe limits ...
CUTTACK, India, March 26 -- Orissa High Court issued the following order on Feb. 23: 1. This is a bail application U/S.483 of BNSS by the petitioner for grant of bail in connection with Plantsite PS Case No.1139 of 2025 corresponding to GR Case No.3929 of 2025 pending in the file of learned SDJM, Panposh, Rourkela for commission of offences punishable U/Ss.338/ 336(3)/ 340(2)/ 297(1)/ 318(4)/ 61(2) of BNS r/w Section 7(3) of the Lottery Regulation Act, on the main allegation of running fake lot...
CUTTACK, India, March 26 -- Orissa High Court issued the following order on Feb. 23: 1. This is a bail application U/S.483 of BNSS by the petitioner for grant of bail in connection with CID, CB Cyber Crime PS Case No.10 of 2024 corresponding to CT Case No.391 of 2024 pending in the file of learned SDJM, Bhubaneswar for commission of offences punishable U/Ss. 419/420/465/467/468/471/120-B/34 of IPC r/w Sec.66(C)/66(D) of IT Act. 2. The allegation against the petitioner emanates from the fact t...
India, March 25 -- The Government of India has issued a release: Disclaimer: Curated by HT Syndication....
India, March 25 -- The Government of India has issued a release: The Union Minister for Agriculture & Farmers' Welfare and Rural Development, Shri Shivraj Singh Chouhan convened an important review meeting at his residence today. The primary objective of the meeting was to safeguard the interests of the Indian agricultural sector and its farmers amidst current global instability, while ensuring strategic preparedness for the upcoming Kharif season. During the meeting, the Union Agriculture Min...