Tag Archives: Penalty

Penalty Of $1.55 Billion On Reliance Industries Exaggerated: Brokerages

New Delhi: A penalty of $1.55 billion slapped by the government on Reliance Industries for producing Oil and Natural Gas Corporation’s natural gas is “grossly exaggerated”, brokerage firms said on Monday. Citi Research said it had expected that Reliance Industries’ liability should be limited to the net cumulative EBIT earned by it from the disputed volumes, which it had estimated ... Read More »

RBI Imposes Penalty On Four Cooperative Banks

Mumbai: The Reserve Bank of India has imposed penalties of up to Rs 5 lakh on four cooperative banks for violation of various norms. The RBI said it has imposed a monetary penalty of Rs 5 lakh on The Cooperative City Bank, Guwahati, for flouting KYC (know your customer) norms and non-adherence to requirements relating to identification and reporting of suspicious transactions. A penalty of Rs ... Read More »