• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

RBI Fines Tamilnad Mercantile Bank, DCB Bank For Breach Of Norms

OMMCOM NEWS by OMMCOM NEWS
March 19, 2024
in Business

Mumbai: The Reserve Bank of India (RBI) has imposed a penalty of Rs 1.38 crore on Tamilnad Mercantile Bank Limited and a fine of Rs 63.6 lakh on DCB Bank Ltd. (the bank) for not complying with regulatory norms.

In the case of DCB Bank, the RBI inspection has revealed that the bank failed to reset the interest rates at the prescribed periodicity in certain MCLR-linked floating rate advances. Besides, it also failed to benchmark the interest rate of certain floating-rate retail loans and floating-rate loans to MSMEs to an external benchmark lending rate.

In the case of Tamilnad Mercantile Bank, the RBI found that the bank (i) failed to benchmark the interest rate on certain floating rate loans to MSMEs to an external benchmark lending rate; (ii) adopted multiple benchmarks within the same loan category; (iii) failed to price certain floating rate loans with reference to actual benchmark rate applicable to those loans and (iv) wrongly reported external rating of certain borrowers to CRILC.

However, at the same time, the RBI said that the action against the banks is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transactions or agreements entered into by the bank with its customers.

(IANS)

Tags: Reserve Bank of India
ShareTweetSendSharePinShareSend
Previous Post

Sr Women’s Hockey Nationals: Manipur Thrash Uttarakhand 11-2 To Seal Final Quarterfinal Spot

Next Post

Murdered SS-UBT Leader’s Wife Claims She Was A ‘Potential Target’

Related Posts

Business

India Should Focus On Atmanirbhar Innovation, Aims To Rank In Top Five AI Nations Globally: Scindia

October 5, 2025
Bitcoin
Business

Bitcoin Touches Record High Crossing $125,000

October 5, 2025
Business

NaMo Semiconductor Lab To Strengthen India’s Chip Design Ecosystem & Boost ‘Make In India’ Drive: Meity

October 5, 2025
Business

Swadeshi Campaigns To Help Domestic Textiles Demand Reach $250 Billion By 2030

October 5, 2025
Business

NSE Reduces Lot Sizes For Nifty 50, Other Index Derivatives From Oct 28

October 5, 2025
Business

KEPCO, KHNP To Spend Combined $26 Million In Lawsuits Over Dispute: Lawmaker

October 5, 2025
Next Post

Murdered SS-UBT Leader’s Wife Claims She Was A ‘Potential Target’

India, US Paving Way For Free, Prosperous Indo-Pacific: Envoy Garcetti

'India Targets To Hike Share Of Natural Gas In The Energy Mix To 15 Per Cent'

Khimji
OMC
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.