Page 8 - Penalty

Sebi imposes penalty of Rs 1 cr on IIFL for misusing client securities

Capital markets regulator Sebi on Friday imposed a penalty of Rs 1 crore on India Infoline Ltd (IIFL) for misutilisation of client securities. The amount has to be paid by IIFL within 45 days. The order came after Sebi conducted multiple inspections of the books of accounts of IIFL, now known as IIFL Securities, for the period April 2011 to January 2017. Based on the findings, the market watchdog initiated adjudication proceedings. "It was found that the noticee (IIFL) had misused client funds in the range of Rs 0.59 crores to Rs 397.02 crores for settlement obligation of debit balance clients and in the range of Rs 0.26 crores to Rs. 73.28 crores for proprietary purposes, in addition to settlement obligation of debit balance clients," Sebi said. In addition, the interest on funds misused by the noticee amounted to Rs 34.87 crore, it added. Further, the noticee has not settled the funds of clients during the inspection period as mandated by Sebi. Consequently, the market watchdo

RBI imposes Rs 2.97 million penalty on Unimoni Financial Services

A show-cause notice was issued to Unimoni Financial Services. The penalty was imposed after considering the company's response

RBI imposes penalties of Rs 93 lakh each on Axis and IDBI Bank

A monetary penalty of Rs 93 lakh has been imposed on Axis Bank for non-compliance of certain directions issued by RBI, the regulator said in a release

Delhi Police to pay double penalty if found flouting traffic norms

Delhi Police personnel who flout traffic norms in the capital will have to shell out double the penalty, according to an official order.

Chitra Ramkrishna's fall from grace: 'Queen of bourses' to Rs 3-cr penalty

Ramkrishna was the third woman to head an exchange in the Asia-Pacific region after Sri Lanka's Colombo Stock Exchange and China's Shenzhen Stock Exchange

Peanut penalty and reputation risks for banks

Is it becoming a routine affair, like being fined by the traffic police for jumping the red light or by a TTE for travelling without a ticket on a Mumbai local?

RBI penalises Paytm Payment Bank and Western Union Financial Services

RBI imposed a monetary penalty of Rs 1 crore on Paytm Payments Bank

RBI imposes Rs 30 lakh penalty on Janata Sahakari Bank, Pune

The RBI on Monday said a penalty of Rs 30 lakh has been imposed on Janata Sahakari Bank Ltd, Pune for non-compliance with certain directions

RBI imposes Rs 79 lakh penalty on Mumbai-based Apna Sahakari Bank

The Reserve Bank has imposed a penalty of Rs 79 lakh on Apna Sahakari Bank, Mumbai for non-compliance with certain directions, including on NPA classification

Reserve Bank penalises Spice Money, Kuppam Co-op Town Bank

The Reserve Bank on Tuesday said it has imposed a penalty of Rs 2.44 lakh on Spice Money Limited for contravention of certain norms

RBI imposes Rs 6 crore penalty on four White Label ATM operators

The RBI on Friday said it has imposed penalties totalling Rs 6 crore on four White Label ATM operators for deficiencies in regulatory compliance

RBI imposes Rs 15 lakh penalty on Baghat Urban Co-operative Bank, Solan

The RBI on Wednesday said it has imposed a penalty of Rs 15 lakh on The Baghat Urban Co-operative Bank Limited, Solan, for violation of certain norms, including, those related to NPA classification

RBI imposes Rs 1 crore penalty on Cooperatieve Rabobank UA

Reserve Bank of India on Thursday said it has imposed a penalty of Rs 1 crore on Cooperatieve Rabobank UA for deficiencies in regulatory compliances

Starting October 1, RBI to levy penalty on ATMs that run out of cash

Penalty of Rs 10,000 per ATM will be levied in the event of a cash-out situation for more than 10 hours in a month

Eng penalty decisions in Euro final 'totally rests' with me, says Southgate

Gareth Southgate, the head coach of England, has said the Three Lions' failure in the penalty shootouts in the Euro Cup final 'totally rests' with him

Sebi imposes Rs 15 cr penalty on FT MF chief executive, fund managers

Regulator cites obsession with high-risk strategies without factoring concomitant risks; fund house to appeal order

IRDAI imposes Rs 30 lakh penalty on SBI General Insurance Company

Regulator IRDAI has imposed a penalty of Rs 30 lakh on SBI General Insurance Company for its failure to comply with the third-party motor insurance regulations.

Bristol-Myers, Sanofi to pay Hawaii $834 mn over Plavix warning label

Bristol-Myers and Sanofi, which produced Plavix in a partnership, in a joint statement vowed to appeal, saying the decision was "unsupported by the law and at odds with the evidence at trial"

RBI imposes Rs 2 cr fine on Deutsche Bank for non-compliance of directions

RBI by an order on Tuesday imposed a penalty of Rs 2 crore on Deutsche Bank AG

RBI imposes Rs 1 cr penalty on PNB for unauthorised ATM operations

The Reserve Bank of India (RBI) imposed the Rs 1 crore penalty for "contravention of the nature referred to in Section 26 (6) of the Payment and Settlement Systems Act, 2007 (PSS Act)", it added