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RBI imposes fine on 3 govt banks, Pine Labs for non-compliance
Mumbai: The Reserve Bank of India (RBI) imposed monetary penalties on Union Bank of India, Bank of India, Central Bank of India, and Pine Labs for non-compliance with certain directions. It imposed...
cityfalcon.com·5d ago
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Fake ‘Children Bank of India’ notes deal struck online: Police
A Karnataka man was arrested for trying to exchange fake 'Children Bank of India' currency notes worth Rs 4 lakh for just Rs 1 lakh. The counterfeit notes were deposited into an HDFC Bank machine, raising alarms among bank officials. The investigation reveals a complex web of online fraud and deceptive practices.
cityfalcon.com·9d ago
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Mumbai News: Special CBI Court Convicts Bank Manager, Firm Directors In ₹3.55 Crore Bank Of India Fraud Case
A Mumbai CBI court convicted a bank manager and three firm directors in a ₹3.55 crore Bank of India fraud case involving forged letters of credit. The court imposed prison terms and fines, stressing strict action in economic offences.
cityfalcon.com·14d ago
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Nashik: Bank Of India Announces 5-Day Mega Settlement Campaign For NPA Borrowers
The bank has launched this campaign at the national level under its commitment to customer-centric services, innovative schemes and customer welfare. During the campaign, settlement of NPA loan accounts will be carried out under the One Time Settlement (OTS) scheme across all branches, zones and FGMOs of the bank
cityfalcon.com·22d ago
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Brief Finance: Event Driven - Fino Payments Bank: How Did Shell Companies Route Online Gaming Funds? and more
In this briefing: Event Driven - Fino Payments Bank: How Did Shell Companies Route Online Gaming Funds? Sunrate: Scaling B2B Payments Solutions Profitably (Initiation) Whale's Insight: Surface Weakness Masks Whale Accumulation in ETH Quiddity T50/100/TDIV Mar26 Results: 100% Hit Rate; US$1.7bn+ Total One-Way Flows Union Bank X BoI [Merger 2.0]: India's 2nd Largest Public Sector Bank in Making? 1. Event Driven - Fino Payments Bank: How Did Shell Companies Route Online Gaming Funds? Fino Payments Bank, a merchant-focused digital payments bank, is under GST investigation over transactions linked to online gaming platforms through program managers. Authorities have arrested CEO Rishi Gupta. The case highlights compliance risks in India’s fast-growing digital payments ecosystem, especially where intermediaries such as program managers and payment aggregators are involved . While the bank has denied any wrongdoing and stated that operations remain stable, the episode may lead to tighter regulatory oversight across India’s fintech and digital payments ecosystem. 2.
cityfalcon.com·24d ago
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