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HDFC Bank Receives SEBI Warning Over Compliance Lapses HDFC Bank has received a warning letter from SEBI regarding compliance issues with capital-markets regulations, including merchant banking, capital, disclosure requirements, and insider trading. The warning, issued on December 9, led to a slight decline in the bank’s stock. HDFC Bank has committed to addressing the concerns and ensuring future compliance. This regulatory scrutiny highlights the importance of maintaining strict adherence to market rules for major financial institutions.   #Full_Article: https://lnkd.in/dM9rH8EP   📢 Stay updated with more insights: 📰 Newsletter: https://lnkd.in/d8uRSdZA 🔗 Follow on LinkedIn: https://lnkd.in/dKkmyBqh

Dear readers, Our latest blog is live, diving into a significant regulatory development: "A Wake-Up Call for Regulatory Compliance: HDFC Bank Warned by SEBI." This post unpacks SEBI’s administrative warning to HDFC Bank, highlighting gaps in compliance with insider trading, merchant banking, and capital issuance regulations. Discover the implications of non-compliance, potential penalties, and its impact on investor confidence. 👉 Read the full blog here: https://lnkd.in/g7GqM3VH Let us know your thoughts in the comments—compliance matters now more than ever! #RegulatoryCompliance #SEBI #HDFCBank #CorporateGovernance #NewBlog

ICICI Securities Settles Regulatory Case with Sebi for Rs 69.82 Lakh  https://lnkd.in/d8URDBZF #ICICISecurities #SebiSettlement #FinancialRegulation #DueDiligence #RegulatoryCompliance ICICI Securities has resolved a regulatory issue with Sebi by paying Rs 69.82 lakh. This settlement addresses concerns about the company's due diligence in merchant banking activities. Explore the details of the settlement, its financial impact, and what it means for ICICI Securities moving forward

The Reserve Bank of India (RBI) has, by an order dated June 10, 2024, imposed a monetary penalty of ₹96.40 Lakh (Rupees Ninety Six Lakh and Forty Thousand only) on Sonali Bank PLC for contravention of sub-section (1) of Section 15 of the Credit Information Companies (Regulation) Act, 2005 [CIC (R) Act] and the directions issued by RBI under the provisions of the CIC (R) Act on ‘Membership of Credit Information Companies (CICs)’, non-compliance with the ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’ and the directions issued by RBI on ‘Time-bound implementation and strengthening of SWIFT – related operational controls’. RBI found, inter alia, that the following charges against the bank were sustained, warranting imposition of monetary penalty. The bank had failed to (i) put in place a system of periodic review of risk categorisation of accounts, (ii) put in use a robust software throwing alerts for transactions inconsistent with risk categorisation and updated profile of the customers, (iii) implement certain SWIFT-related operational controls within the stipulated timelines and (iv) become a member of all the CICs within the stipulated timeline. #rbi #bankers

#BudgetWithMC | RBI’s vetting process to ascertain potential bidders for IDBI Bank is at an advanced stage, says DIPAM secy, Tuhin Kanta Pandey. Read on 👇 #RBI #UnionBudget

How much is too much when it comes to “banking charges”? This article shows how many well-known banks, despite having a set guideline by the RBI, are levying hefty charges under the guise of important banking charges. The main issue arises when banks such as IDFC FIRST Bank and IDBI Bank can potentially offer reasonable or zero charges. What impediments are preventing these banks from adopting similar practices?https://lnkd.in/gykpJY2p

#Regulation is a journey! All these regulations which are coming from #RBI are not forever. Prasanna Lohar sharing his insightful views in a panel discussion at PMOGA India Hub. During the discussion, Prasanna mentioned that the #fintechs and #banks are evolving and #RBI has a long-term vision from #sustainability aspect or operational aspect and these rules and #regulations have been brought in to strengthen the banking ecosystem. The intent is to create a robust financial ecosystem which is ultimately in the interest of end-user / end-customer or banks.

Why SBI & PNB did this ? Recently Karnataka Government had issued a circular to stop having any transactions with SBI or PNB banks. Reason being, Fixed deposits which were made with these banks were misused. In 2011 & 2013, FDs were made with both these banks for 10 crores and 25 crores. Some of the officials misused it and forged documents to settle through some companies. Now the matter is in the court. After senior banking officials spoke with the Government, circular is temporarily paused. What does this signal to the common public ? When Government is not able to trust Public sector banks itself. How can a Government Fixed deposits can be mishandled without much scrutiny and left unanswered for 10+ years Is there a safety for Fixed deposits ? #investing #fixeddeposits #banks

Subject: Clarification on HDFC Bank Charges and RBI Guidelines Hello LinkedIn Network, I recently noticed an unusual transaction in my HDFC Bank account labeled as "negative charges." While reviewing, I came across the RBI's directive that no amount in a customer's account can be placed on hold without prior intimation or valid reason. I am in the process of reaching out to the bank for clarification, but I also wanted to highlight this for awareness and seek insights from others who might have faced a similar issue. Transparency and compliance with RBI norms are essential for trust in the banking system. If you’ve encountered a similar situation or have knowledge of RBI’s policies regarding such charges, please share your thoughts. Let's work together to ensure financial clarity for all. #BankingAwareness #RBIRegulations #HDFCBank

RBI cancels the licence of The Vaishali Shahari Vikas Co-operative Bank Ltd., Hajipur, Dist. Vaishali: On December 27, 2024 RBI cancelled the licence of the bank as: 🔻 The bank does not have adequate capital and earning prospects.; 🔻 The bank has failed to comply with the requirements of several sections of the Banking Regulation Act, 1949; 🔻 The continuance of the bank is prejudicial to the interests of its depositors; 🔻 The bank with its present financial position would be unable to pay its present depositors in full; and 🔻 Public interest would be adversely affected if the bank is allowed to carry on its banking business any further. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC). As per the data submitted by the bank, 98.47% of the depositors are entitled to receive full amount of their deposits from DICGC. As on December 05, 2024, DICGC has already paid ₹5832.80 lakh of the total insured deposits.