TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Bangladesh: Hindu Temple Vandalised and Burnt Down in Chittagong District

    Bangladesh: Hindu Temple Vandalised and Burnt Down in Chittagong District; Police Dismiss Incident as Land Dispute

    Gaza Aid Group Denies Hamas Claims of Israeli Attack at Rafah Distribution Center

    Gaza Aid Group Denies Hamas Claims of Israeli Attack at Rafah Distribution Center

    PM Modi to Lead Council of Ministers Meet on June 4

    PM Modi to Lead Council of Ministers Meet on June 4: Focus on Performance Review, Key Policies, Public Outreach

    India Deports Over 2,000 Bangladeshi Nationals in Ongoing Crackdown on Illegal Immigration

    India Deports Over 2,000 Bangladeshi Nationals in Ongoing Crackdown on Illegal Immigration

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Global economic outlook worsens but India seen as growth driver: WEF report

    Global economic outlook worsens but India seen as growth driver: WEF report

    Benefits of Using a Bajaj Finserv Insta EMI Card for Shopping

    Benefits of Using a Bajaj Finserv Insta EMI Card for Shopping

    Understanding the differences between BTC season and altcoin season

    Understanding the differences between BTC season and altcoin season

    Best ₹1 Crore Term Plans with Return of Premium: Benefits vs Cost

    Best ₹1 Crore Term Plans with Return of Premium: Benefits vs Cost

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Mock Drills Under ‘Operation Shield’ Scheduled Today in Border States and UTs

    Mock Drills Under ‘Operation Shield’ Scheduled Today in Border States and UTs

    New Delhi: Indian Army Brahmos Missile System during a rehearsal for Republic Day Parade, in New Delhi on Friday, January 20, 2023. (Photo: Anupam Gautam/IANS)

    India’s Defence Manufacturing Set to Reach ₹8.8 Lakh Crore by 2047: CII-KPMG Report

    Top Naxal Leader Hidma Nabbed in Odisha in Coordinated Security Sweep

    Top Naxal Leader Hidma Nabbed in Odisha in Coordinated Security Sweep

    Mock Drills to Be Held Tomorrow in States Bordering Pakistan

    India’s Major Preparations After ‘Operation Sindoor’! Mock Drills to Be Held Tomorrow in States Bordering Pakistan

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Pakistan’s Imminent Threat to Gulf Monarchies

    Pakistan’s Imminent Threat to Gulf Monarchies

    Gaza Aid Group Denies Hamas Claims of Israeli Attack at Rafah Distribution Center

    Gaza Aid Group Denies Hamas Claims of Israeli Attack at Rafah Distribution Center

    Colombia Withdraws Statement Condoling Terrorists Killed in 'Operation Sindoor'

    Colombia Withdraws Statement Condoling Terrorists Killed in ‘Operation Sindoor’

    Elon Musk

    Elon Musk Steps Down from DOGE Role, Criticizes Trump’s ‘Big Beautiful Bill’

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    How to Decide Between Amity and Manipal for Your Online MBA Journey

    How to Decide Between Amity and Manipal for Your Online MBA Journey

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Role of Consultants to Study in Ireland: How to Choose the Right One?

    Role of Consultants to Study in Ireland: How to Choose the Right One?

    The Complete Guide to Education Loan Interest Rates in 2025

    The Complete Guide to Education Loan Interest Rates in 2025

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    The Economic Impact of iGaming on Creating New Jobs and innovations

    The Economic Impact of iGaming on Creating New Jobs and innovations

    AI Personalization Transforming Player Experiences

    AI Personalization Transforming Player Experiences

    Cricket – More Than Just a Bat and Ball

    Cricket – More Than Just a Bat and Ball

    Lazer247 India – Best Online Sports Betting and Casino Platform

    Lazer247 India – Best Online Sports Betting and Casino Platform

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Bangladesh: Hindu Temple Vandalised and Burnt Down in Chittagong District

    Bangladesh: Hindu Temple Vandalised and Burnt Down in Chittagong District; Police Dismiss Incident as Land Dispute

    Gaza Aid Group Denies Hamas Claims of Israeli Attack at Rafah Distribution Center

    Gaza Aid Group Denies Hamas Claims of Israeli Attack at Rafah Distribution Center

    PM Modi to Lead Council of Ministers Meet on June 4

    PM Modi to Lead Council of Ministers Meet on June 4: Focus on Performance Review, Key Policies, Public Outreach

    India Deports Over 2,000 Bangladeshi Nationals in Ongoing Crackdown on Illegal Immigration

    India Deports Over 2,000 Bangladeshi Nationals in Ongoing Crackdown on Illegal Immigration

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Global economic outlook worsens but India seen as growth driver: WEF report

    Global economic outlook worsens but India seen as growth driver: WEF report

    Benefits of Using a Bajaj Finserv Insta EMI Card for Shopping

    Benefits of Using a Bajaj Finserv Insta EMI Card for Shopping

    Understanding the differences between BTC season and altcoin season

    Understanding the differences between BTC season and altcoin season

    Best ₹1 Crore Term Plans with Return of Premium: Benefits vs Cost

    Best ₹1 Crore Term Plans with Return of Premium: Benefits vs Cost

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Mock Drills Under ‘Operation Shield’ Scheduled Today in Border States and UTs

    Mock Drills Under ‘Operation Shield’ Scheduled Today in Border States and UTs

    New Delhi: Indian Army Brahmos Missile System during a rehearsal for Republic Day Parade, in New Delhi on Friday, January 20, 2023. (Photo: Anupam Gautam/IANS)

    India’s Defence Manufacturing Set to Reach ₹8.8 Lakh Crore by 2047: CII-KPMG Report

    Top Naxal Leader Hidma Nabbed in Odisha in Coordinated Security Sweep

    Top Naxal Leader Hidma Nabbed in Odisha in Coordinated Security Sweep

    Mock Drills to Be Held Tomorrow in States Bordering Pakistan

    India’s Major Preparations After ‘Operation Sindoor’! Mock Drills to Be Held Tomorrow in States Bordering Pakistan

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Pakistan’s Imminent Threat to Gulf Monarchies

    Pakistan’s Imminent Threat to Gulf Monarchies

    Gaza Aid Group Denies Hamas Claims of Israeli Attack at Rafah Distribution Center

    Gaza Aid Group Denies Hamas Claims of Israeli Attack at Rafah Distribution Center

    Colombia Withdraws Statement Condoling Terrorists Killed in 'Operation Sindoor'

    Colombia Withdraws Statement Condoling Terrorists Killed in ‘Operation Sindoor’

    Elon Musk

    Elon Musk Steps Down from DOGE Role, Criticizes Trump’s ‘Big Beautiful Bill’

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    How to Decide Between Amity and Manipal for Your Online MBA Journey

    How to Decide Between Amity and Manipal for Your Online MBA Journey

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Role of Consultants to Study in Ireland: How to Choose the Right One?

    Role of Consultants to Study in Ireland: How to Choose the Right One?

    The Complete Guide to Education Loan Interest Rates in 2025

    The Complete Guide to Education Loan Interest Rates in 2025

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    The Economic Impact of iGaming on Creating New Jobs and innovations

    The Economic Impact of iGaming on Creating New Jobs and innovations

    AI Personalization Transforming Player Experiences

    AI Personalization Transforming Player Experiences

    Cricket – More Than Just a Bat and Ball

    Cricket – More Than Just a Bat and Ball

    Lazer247 India – Best Online Sports Betting and Casino Platform

    Lazer247 India – Best Online Sports Betting and Casino Platform

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

RBI cracks down on erring banks under governor Shaktikanta Das, banks fined ₹109 crores in 2019 alone

Amit Agrahari by Amit Agrahari
21 July 2019
in Trending
RBI cracks down on erring banks under governor Shaktikanta Das, banks fined ₹109 crores in 2019 alone

(PC: rediff.com)

Share on FacebookShare on X

The role of the Reserve Bank of India (RBI) as regulator has been questioned in last few years. The mess in the banking sector, some big scams like Nirav Modi bank fraud were blamed on lax regulation by the central bank of the country. However, under RBI governor Shaktikanta Das, to shed the tag of lax regulator, the central bank has been tough on the banks in the last one year. RBI has imposed a fine of 109 crore rupees in first seven months of this calendar year. This is 395 percent more than 22 crore rupees imposed in calendar year 2017 and 13.5 percent higher than 96 crore rupees fine in 2018.

As per a report by ThePrint, “the RBI has penalised banks, including state-run, private and foreign, on 65 occasions for not complying with rules that deal with reporting frauds, recognition of bad debt, income recognition, and opening of current accounts, besides their failure to follow steps suggested to tighten the SWIFT system (that allows banks around the world to exchange secure communication related to inter-country money transfer instructions), among other reasons.”

RelatedPosts

RBI Slashes Repo Rate to 6% — How It Will Impact Your EMIs, Loans: All you Need to Know

Calculated and precise: Decoding RBI’s Monetary Policy Outlook

RBI Slashes Repo Rate to 6.25% After 5 Years; Projects 6.7% GDP Growth for FY26

Load More

Under Shaktikanta Das, The highest penalty was imposed on SBI, the largest public sector bank in the country. The behemoth of Indian banking sector was slapped with 9 crore rupees penalty in the last seven months of the year. The penalties have been imposed to ensure that the commercials banks abide the rules set by the regulator. “The idea is to sensitise the banks that actions have consequences. The penalties levied are a token amount but seek to convey the message that regulatory enforcement is a priority with the central bank,” said a person associated with development.

“Earlier, moral suasion was the preferred method, wherein the RBI used to write a letter to the bank management to point out irregularities. But now the RBI has moved to levying monetary penalties to ensure adherence to regulations,” he added, pointing out the changes made by RBI governor Shaktikanta Das who replaced former governor Urjit Patel.

So far the regime of Shaktikanta Das has been very fruitful for the central bank as well as the government. The appointment of Shaktikanta Das, former Economic Affairs Secretary as RBI governor brought much-needed relief to the banking industry. It has been six months since the appointment of Das on December 11, 2018. Two top public sector bankers spoke to BloombergQuint and praised the tenure of Shaktikanta Das and called him a friendlier regulator. According to bankers, if the regulator listens to their views on various matters, the regulation is more ‘practical’.

The most important step taken by Shaktikanta Das has been ‘dovish’ monetary policy which India requires due to benign inflation and slow economic growth. The central bank cut the policy rates for three consecutive terms under his leadership.

The MSME sector was under huge stress due to strict norms introduced by RBI regarding lending. The first step taken by Das was to ease out the NPA declaration rules for MSMEs with loans up to 25 crore rupees. Under former RBI governors Raghuram Rajan and Urjit Patel, lending to MSME sector dried up. The sector is the second largest employer and backbone of the informal economy.

In the last seven months, it turned out that the government and the bankers both are happy with actions of Shaktikanta Das as RBI governor. The appointment of Shaktikanta Das, who is a retired IAS officer, was seen as a threat to the autonomy of RBI by the left-liberal establishment. But his tenure has been helpful in the larger public good.

Tags: banks NPAsRBIRBI GovernorShaktikanta Das
Share300TweetSend
Previous Post

How the ICJ verdict opened the door for Kulbhushan Jadhav’s possible return

Next Post

Former foreign minister Sushma Swaraj gracefully shuts down twitter troll, Irfan A Khan, who wishes death upon her

Related Posts

Bangladesh: Hindu Temple Vandalised and Burnt Down in Chittagong District
Politics

Bangladesh: Hindu Temple Vandalised and Burnt Down in Chittagong District; Police Dismiss Incident as Land Dispute

2 June 2025

Bangladesh: In a shocking incident in the early hours of Saturday, 31st May, a Hindu temple was brutally vandalised...

Gaza Aid Group Denies Hamas Claims of Israeli Attack at Rafah Distribution Center
Geopolitics

Gaza Aid Group Denies Hamas Claims of Israeli Attack at Rafah Distribution Center

2 June 2025

The Gaza Humanitarian Foundation (GHF) on Sunday strongly refuted claims that the Israel Defense Forces (IDF) had attacked a...

PM Modi Likely to Flag Off Historic Train to Kashmir on June 6
Trending

PM Modi Likely to Flag Off Historic Train to Kashmir on June 6 — A Boost to Economy and Connectivity

2 June 2025

Prime Minister Narendra Modi is expected to inaugurate the long-awaited Vande Bharat Express train service from Katra in Jammu...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

Pakistan needs money from IMF to feed their people

Pakistan needs money from IMF to feed their people

00:15:20

Vacate PoK and more: Steps Pakistan needs to take to avoid Indian military action

00:06:36

Taking The Wire’s Propaganda Piece on VP to the Cleaners – Feat. Prof. Kapil Kumar

00:09:19

Rahul Gandhi Undermines India’s Electoral Integrity as Trump Applauds It

00:07:09

Why Pakistan army chief reminds two nation theory| what is the plan| Waqf Bill |Asim Munir| Jinnah

00:13:02
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap

©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited