Prayer is a universal phenomenon, deeply woven into the fabric of human history and culture. While its definitions and practices vary wildly across different belief systems, it generally serves as a medium for humans to communicate with the divine, the universe, or their inner selves. 1. Methods of Prayer The methodology of prayer varies significantly […]
Yes Bank Limited Penalty: ₹31.80 Lakh Key Details Date: May 08, 2026 (Order: April 27, 2026) Violation: Know Your Customer (KYC) Directions. Finding: Failed to put in place a system of using the KYC Identifier assigned by the Central KYC Records Registry (CKYCR) for establishing account-based relationships with customers. Root Cause Analysis (RCA) Incomplete IT
RBI Draft Directions Report: SNFA Context: To ensure transparency, prudence, and timely recovery, the Reserve Bank of India (RBI) has introduced draft directions to regulate instances where financial institutions acquire non-financial, immovable collateral assets to extinguish debt in exceptional cases of loan defaults. Applicable Entities: Commercial Banks NBFCs Co-operative Banks All India Financial Institutions 1
Management Report: FEMA (Authorised Persons) Regulations, 2026 Amendment 1 Discontinuation of Fresh FFMC Licences Applicable Entity Potential new market entrants, Existing Full-Fledged Money Changers (FFMCs), and Non-Bank Financial Companies (NBFCs). Specific Changes Required The RBI will no longer accept or process fresh applications for Full-Fledged Money Changer (FFMC) licences. Only applications pending as of the
Reference: RBI Press Release 2026-2027/227 dated May 8, 2026. Background & Core Change: The Reserve Bank of India (RBI) has issued three amendment directions relaxing the prudential norms for including current financial year profits into Common Equity Tier 1 (CET1) capital for calculating the Capital to Risk-Weighted Assets Ratio (CRAR). Previously, banks were permitted to
