If the Bombay High Court favours the RBI in its judgement in this dispute, it would appear that the latter is empowered to invoke Section 46(1) on Uday Kotak, the CEO and Dipak Gupta, the joint managing director of the bank, as it has specifically used the word, “wilful” to describe the bank’s conduct.
A Kotak family entity, Infina Finance Private Ltd. (Infina), purchased electoral bonds totalling Rs 1.3 billion – which is more than twice the amount...
In a piece published in The Wire a month later, Hemindra Hazari, an independent research analyst registered with the Securities and Exchange Board of India, called this “one...
Ravi Narayanan, the 55-year old Group-Head in-charge of retail branches, retail liabilities and third party products abruptly resigned from Axis Bank on March 13,...
Analysts said that the stringency of the Paytm Payments Bank action,
while directed at a single entity, signals that the bank won’t tolerate lapses.
“This is...
https://www.youtube.com/watch?v=UjI499WhF7M
The Reserve Bank of India (RBI) has been vigilant in its actions against non-banking financial companies (NBFCs), fintechs, and credit card issuers in the...