RBI Launches UDGAM - a Central Portal Web Portal for searching Unclaimed Deposits
On 17th August 2023, the Governor of the Reserve Bank of India (RBI), introduced a Centralised Web Portal named UDGAM (Unclaimed Deposits – Gateway...
![Non-Compliance of Notice issued by CIT(A) during appeal proceedings: ITAT directs to Deposit Cost of Rs. 20,000 in PM Relief Fund [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Non-Compliance-Notice-appeal-proceedings-ITAT-Deposit-Cost-PM-Relief-Fund-TAXSCAN-.jpg "Non-Compliance of Notice issued by CIT(A) during appeal proceedings: ITAT directs to Deposit Cost of Rs. 20,000 in PM Relief Fund [Read Order]")
ICAI Reprimands CA on Failure to Submit Exception Report stating Running of NBFC without Registration [Read Order]
The Institute of Chartered Accountants of India (ICAI) reprimanded Chartered Accountant (CA ) Rakesh Patni for failure to submit an exception report stating the running of a Non-Banking Finance...
![ICAI Reprimands CA on Failure to Submit Exception Report stating Running of NBFC without Registration [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/ICAI-Reprimands-CA-Exception-Report-Running-of-NBFC-without-Registration-Failure-to-Submit-Exception-Report-Registration-NBFC-taxscan.jpg "ICAI Reprimands CA on Failure to Submit Exception Report stating Running of NBFC without Registration [Read Order]")
RBI Cancels Banking License of Karnataka based Mahalaxmi Co-operative Bank Ltd; allows to function as Non-Banking Institution
The Reserve Bank of India (RBI) cancelled the banking license of Karnataka based Mahalaxmi Co-operative Bank Limited on 27th June 2023. However, the RBI has been allowed to function as a Non-Banking...
Delhi HC dismisses Plea challenging RBI's decision to withdraw Rs. 2000 banknotes from Circulation
On Monday, July 3rd, 2023, the Delhi High Court dismissed a Public Interest Litigation (PIL) that contested the Reserve Bank of India's (RBI) decision to withdraw Rs. 2000 banknotes from circulation....
RBI imposes Rs. 30 Lac penalty on Axis Bank for Non-Compliance with directions on 'Prudential Norms on Income Recognition'
The Reserve Bank of India (RBI) has imposed Rs. 39 lakhs penalty on Axis Bank, one of the top banks in India. According to the RBI, the axis bank didn’t comply with the certain provisions of the...
