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Business

RBI imposes monetary penalty on Punjab National Bank

The Reserve Bank of India (RBI) has imposed, by an order dated June 07, 2021, a monetary penalty of ₹2 crore (Rupees Two Crore only) on Punjab National Bank (the bank) for non-compliance of certain provisions of directions issued by RBI contained in the Master Directions on “Frauds – Classification and Reporting by commercial banks and select FIs”…
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Business

RBI imposes monetary penalty on Bank of India

The Reserve Bank of India (RBI) has imposed, by an order dated June 07, 2021, a monetary penalty of ₹4.00 crore (Rupees Four crore only) on Bank of India (the bank) for non-compliance with certain provisions of directions issued by RBI…
National

GST Revenue collection for May 2021

The gross GST revenue collected in the month of May 2021 is₹1,02,709 crore of which CGST is ₹17,592 crore, SGST is ₹22,653, IGST is ₹53,199 crore (including ₹26,002 crore collected on import of goods) and Cess is ₹ 9,265 crore (including …