The central bank, however, added the penalty is based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the Amazon Pay (India) with its customers.
The central bank, however, added the penalty is based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the Amazon Pay (India) with its customers.
​​The top court was hearing the appeal by Yes Bank against a Bombay High Court ruling tat had set aside an administrator's decision to write off AT1 bonds worth 84.5 billion rupees ($1.03 billion) in March 2020 as a part of the lender's restructuring initiated by the Reserve Bank of India.
In a move to safeguard customers from fraudulent payment of cheques, state-owned Punjab National Bank (PNB) has made the Positive Pay System (PPS) compulsory for cheque payments worth Rs 5 lakh and above. Earlier, the mandatory submission of cheque details in PPS was set at Rs 10 lakh and above.
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Analysts say that since the lender would also have a post-integration expense of ₹1,500 crore expensed over 18 months, the deal will only be profit accretive at the end of the calendar year 2024.
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SBI, India's largest bank, does not want to permanently retain a stake in Yes Bank and would want to trim its holdings, albeit in phases, one of the sources told Reuters on condition of anonymity. SBI held a 26.14% stake in Yes Bank as of December 31, stock exchange data showed, and is the largest single shareholder in the rescued lender
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The National Asset Reconstruction Company (NARCL) on Tuesday gave a ₹222.5 crore binding offer for verified claims of ₹619 crore, said two people with knowledge of the matter. The offer from NARCL equates to a 36% recovery for lenders and has triggered a 'Swiss challenge' auction.