CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The Prudential Authority of the South African Reserve Bank levied a pecuniary penalty of 10 million rand (Rupees 4.5 crore) on the State Bank of India's South Africa branch for non-compliance with certain terms of the country's pecuniary Intelligence Centre Act 38 of 2001 (FIC Act). The penalty consists of an immediately payable portion of 5.50 million rand, which has already been paid, and a suspended amount of 4.50 million rand, which is subject to compliance within 36 months.
Bank Of Baroda Is Cooperating With South African Reserve Bank's Compliance Investigations
The South African Reserve Bank is now investigating Bank of Baroda for possible compliance violations at one of its South African branches. The bank is fully working with the investigation.
Disclosure and Compliance Measures
Bank of Baroda has made all disclosures required by Regulation 30 of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015. It has also upgraded its compliance processes and adopted corrective steps to improve KYC/AML procedures in order to meet regulatory requirements.
Ongoing legal proceedings
Some investigation-related matters are still pending, including Bank of Baroda's appeal against a Rs 50 million penalties. The bank promises to keep the stock markets aware of any important developments resulting from these inquiries.
Market Reaction
Following the report, Bank of Baroda's stock fell 1.97 percent to Rs 154.40 on the BSE on May 28.
Welcome to Notopedia.com, your free learning platform that caters to the diverse needs of students and aspirants across a spectrum of entrance exams and educational endeavors. Whether you're preparing for highly anticipated exams like CAT 2023, NEET 2023, JEE Main, or bank job vacancies, our platform offers a wealth of resources to guide you towards success. Stay up-to-date with the latest exam dates, announcements, and results for various government recruitment exams, including SSC CGL, CHSL, NDA, and UPSC. Explore comprehensive study materials, sample papers, and exam patterns to hone your skills and boost your confidence. From important dates like CBSE Class 10 and 12 date sheets to exam-specific information like JEE Main 2023 application form date, we cover it all. Notopedia.com is your go-to source for everything from admissions and admit cards to scholarships and college information. Whether you're aiming for a career in defense, government, banking, or higher education, our free learning platform equips you with the knowledge and resources you need to excel. Join us in your educational journey and unlock a world of opportunities, guidance, and comprehensive support.
For more Updates and Information - Visit Notopedia's Bulletin Board
For Latest Sarkari Jobs - Visit Notopedia's Sarkari Jobs Section
For access to more than 20,000 Colleges - Visit Notopedia's College Section
For School Studies and Exams Preparation across 14 Boards - Visit Notopedia's School Section
For Comprehensive Preparation of Sarkari Job Exams - Visit Notopedia's Sarkari Exams Section
