The Indian Banking Association (IBA) published an instruction requesting that banks waive processing, paperwork, inspection and all other service fees, in particular for the Kisan Credit Card and crop loans up to Rs. 3 lakhs.
According to the report published by the Government of India, the export of the country in the financial year 2018-19 may slow down to 7.3 percent. The growth rate for the last economic year, i.e. for 2017-2018, was 9.8%. Growth rate that is likely to decline due to poor growth in traditional exports including gems and jewelry, marine, farming and engineering.
The Reserve Bank of India has raised Rs. 1 Crore penalty on the State Bank of India (SBI) for breaking the rules.
Reserve Bank of India (RBI) enforced a combined penalty of Rs. 3.5 Crore on Corporation Bank and Allahabad Bank in the course of taking rigorous action against violators of the laws.
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