The Reserve Bank of India (RBI) has imposed a monetary penalty of 1 lakh on Tura Urban Co-operative Bank Ltd., Tura, Meghalaya for non-compliance with specific directions issued by RBI under Supervisory Action Framework (SAF).
Bishal Phukan was arrested for duping hundreds of people by promising attractive returns in a short period of time through investments in the stock market. It is said that Phukan was able to amass crores from investors before his fraudulent activities came to light.
The chief guest of the occasion, Olden Nongphlu, General Manager, OIC, RBI, highlighted the need to organize the field level financial literacy camp and the importance of internet connectivity in financial transactions.
In an official press release, RBI announced that six Non-Banking Financial Companies (NBFCs) have voluntarily surrendered their Certificate of Registration (CoR) due to their exit from the Non-Banking Financial Institution (NBFI) business.
According to the official press release by the RBI on September 30, 2023, it was announced that due to the expiration of the withdrawal period, the current arrangement for depositing or exchanging Rs 2,000 banknotes would be extended until October 7, 2023.
With a view to reaching out to MSME entrepreneurs, the Reserve Bank of India (RBI) conducted a town hall meeting on micro, small, and medium enterprises (MSMEs) on Friday at the Thangbuli Village Club Hall, Amlarem, in West Jaintia Hills District.
