RBI penalises four banks for violation of banking norms. TRAI extends DTH deadline to March 31st.
Fine Time: RBI has imposed a monetary penalty of INR2cr on Corporation Bank and INR1cr each on Bank of Baroda, State Bank of India and Union Bank of India.
The penalty has been imposed for non-compliance with various directions issued on monitoring of end-use of funds, exchange of information with other banks, classification and reporting of frauds, restructuring of accounts etc.
On a Spree: The Central Bank has imposed monetary penalties on 14 banks so far this month for several such violations. Click here to see who else is on the list.
Time to Choose: TRAI has extended the deadline for customers to opt for channels of their choice under the new framework for broadcasting and cable services from Feb 1 to March 31.
A Good Deal: The framework allows consumers to select and pay only for the channels they wish to view and requires TV broadcasters to disclose the maximum retail price of each channel.
Best Fit: Customers who don’t exercise the choice will automatically migrate to the ‘Best Fit Plan’, to be developed as per usage, pattern, language, channel popularity etc.