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RBI Slaps Rs 42.78 Lakh Penalty on Manappuram Finance for Violating Multiple Norms
New Delhi: Manappuram Finance faces a monetary penalty imposed by the Reserve Bank of India (RBI) for breaches in regulatory compliance. The penalty, amounting to ₹42.78 lakh, is not a verdict on the validity of any transactions or agreements made by the company with its customers, clarified the RBI. The
The Reserve Bank of India (RBI) has instructed certain banks to refrain from initiating new non-deliverable forwards (NDF) arbitrage positions, according to information from sources
Six bankers have indicated that the RBI has communicated to them the directive of refraining from establishing fresh outright arbitrage positions. However, it has been noted that swap arbitrage positions are still permissible under this directive. This guidance from the central bank has been conveyed verbally, with no formal written