RBI begins fresh audit at United Bank of IndiaManish Basu
For accountability purposes, a bank should ensure that users and IT assets are uniquely identified and their actions are auditable. Ref 1, Page 20, Item 5.(viii) To be able to audit database users and their actions. Cyber Security Operations Centre should have the capacity to monitor various...
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The funds obtained from these unlawful activities were directed and passed through bank accounts these organizations kept with Paytm Payments Bank Ltd. Paytm Payments Bank was instructed by the RBI on January 31 to cease taking deposits or top-ups in any customer accounts, wallets, FASTags, and ...
The move comes less than two years after RBIbarredPaytm Payments Bank from onboarding new customers. A subsequent audit found “persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action,” the central bank said. ...
The move comes less than two years after RBIbarredPaytm Payments Bank from onboarding new customers. A subsequent audit found “persistent non-compliances and continued material supervisory concerns in the bank, warranting further supervisory action,” the central bank said. ...
Union Bank of India won first prize under the governance and outcome-centric HR category. Topic: Banking System 6. Institute for Development and Research in Banking Technology (IDRBT) has developed new technology. Due to this technology, it will be possible for people in remote areas without sa...
The nature and extent of due diligence will depend on the risk perceived by the bank. However, while preparing customer profile banks should take care to seek only such information from the customer, which is relevant to the risk category and is not intrusive. The customer profile is a ...
We provide PAN India services for acquiring an FFMC license by companies registered in different regions of India. 5. Documentation Support We ensure end-to-end documentation support to ensure that you get your Full Fledged Money Changer License easily. 6. Audit Support Our experts will assist yo...
1. No bank can open a current account for a customer who has availed a CC/OD facility from any bank and all transactions of that customer should necessarily be routed through such CC/OD account. Even the bank who has granted CC/OD, can not open a current account for that borrower. It...