Setback for Anil Ambani, RCom as HC supports SBI order

The Bombay high court  has upheld a decision by the State Bank of India (SBI) to classify accounts of industrialist Anil Ambani and his company, Reliance Communications (RCom), as "fraudulent"......

RBI's diktat to banks for issuance of credit cards

Reserve Bank has directed banks to provide their eligible customers with an option to choose from multiple card networks at the time of issuing credit or debit cards, a move which will benefit card......

Bank Liable For Employee Oversight

The Commission concluded that bank officials had evidently been negligent in failing to compare the signature prior to making payment, notes Jehangir B Gai. Illustration: Dominic Xavier/Rediff.com......

RBI slaps Rs 3 crore penalty on ICICI Bank

A penalty of Rs 3 crore has been imposed on ICICI Bank Ltd for contravention of certain directions, the Reserve Bank of India said on Monday. The RBI has imposed a monetary penalty of Rs 3 crore......