NSFDC showcases success in bolstering entrepreneurship amongst depressed classes (See 'Corp Brief') Govt reviews BSNL performance for Q1 FY 2026-27 (See 'Corp Brief') India enters next phase of governance transformation with AI-driven administrative reforms: MoS (See 'Corp Brief') IPR - If infringing use is coupled alleged fraudulent online payment & earning schemes, conduct may be treated not merely as trademark infringement and passing off, but also as phishing & cyber fraud justifying urgent intervention: HC (See 'Legal Desk') MeitY releases 2nd edition of the Digital Threat Report 2025-26 for BFSI Sector (See 'Corp Brief') On Eve of Bharat Tex 2026, India prepares to host World's Largest Global Textiles Expo (See 'Corp Brief') IPR - In vitro screening method functions as diagnostic process, which is barred from patentability u/s 3(i) of Patents Act: HC (See 'Legal Desk') 'SANKALP' to guide CPWD's Journey towards Future-Ready Organisation: Union Minister (See 'Corp Brief') Healthcare facilities worth Rs 668 Crore to benefit 53 Lakh ESI Beneficiaries (See 'Corp Brief') Chouhan gives message of Green India during dialogue with Vriksh Mitra (See 'Corp Brief') IPR - If on visual comparison, rival medicinal marks are strikingly similar in essential features, overall get up and packaging, and where trade channels and consumer base are common, likelihood of deception is sufficient to justify interim injunction: HC (See 'Legal Desk') Lakhanpur among first towns selected under PM SVANidhi 'Street Food Hub' Plan: MoS (See 'Corp Brief') Paswan hails PMFME Scheme's landmark achievement of 2 lakh Credit-Linked Beneficiaries (See 'Corp Brief') 500 officials participate in inaugural webinar on Anemia and Adolescent Health (See 'Corp Brief') IPR - Purpose of summary judgment in commercial suits is to ensure time-bound disposal and that trial is not default norm: HC (See 'Legal Desk') Ministry of Textiles to organise 'Weave The Future 4.0 - Upcycling Edition' at Dilli Haat (See 'Corp Brief') IPR - For purposes of Sec 57 of Trade Marks Act, foreign proprietor may succeed in rectification by proving that its mark had acquired actionable recognition, even without formal commercial launch or direct sales: HC (See 'Legal Desk') Nadda chairs Steering Group Meeting of Ayushman Bharat Digital Mission (See 'Corp Brief') DoP and TRAI to conduct Village-Level Telecom Network Performance Survey (See 'Corp Brief') IBC - Demand notice in Form B under Rule 7(1) of Personal Guarantor Rules is only procedural requirement prior to filing and does not amount to invocation of guarantee: NCLT (See 'Legal Desk') Tech Innovation and disruption in Construction Industry (See 'CORP EINSICHT')

Print

RBI slaps penalty of 90.00 lakh on Vasai Vikas Sahakari Bank

Published: Oct 27, 2021

MUMBAI, OCT 27, 2021: THE Reserve Bank of India (RBI) has, by an order dated October 26, 2021 imposed a monetary penalty of Rs.90.00 lakh on Vasai Vikas Sahakari Bank Ltd., Vasai, Maharashtra (the bank) for non-compliance with the directions issued by RBI on "Management of Advances - UCBs", "Income Recognition, Asset Classification, Provisioning and Other Related Matters - UCBs", with the specific directions issued to the bank vide RBI's letter dated November 22, 2018 and with the provisions of section 31 read with section 56 of the Banking Regulation Act, 1949 (the Act). This penalty has been imposed in exercise of powers vested in RBI conferred under section 47A (1)(c) read with sections 46 (4) (i) and 56 of the Act, taking into account failure of the bank to adhere to the aforesaid directions issued by RBI and provisions of section 31 read with section 56 of the Banking Regulation Act, 1949. This action is based on deficiency in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.