Articles by Shivaprasad Laxman Chhatre
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Lodgement of depositors claims with DICGC - Issues - Need of process simplification without sacrificing safety and security
Few readers of my earlier articles on the subject of DICGC called me and informed me that contrary to the applicable provisions some banks are not entertaining...
PMC bank's scheme of amalgamation: Was it not a travesty of justice?
In this write-up, I have used the terminology retail, institutional deposit as has been used in the Scheme of amalgamation of PMC Bank with Unity Small Finance Bank (USFB) as published in the gazette of India notwithstanding it is a ridiculous and misleading terminology not consistent with provisions of DICGC or any existing law.
What PMC bank’s different classes of depositors, creditors would get if the proposed Scheme of amalgamation is approved?
After a big fraud that was reported, in September 2019, inspections conducted by RBI showed complete erosion of capital and substantial deposit erosion of the bank.
Are current methods of customer grievance redressal in RBI regulated entities adequate to redress the concerns of consumers?
The write-up is a bit lengthy but I am sure it will serve as one source of reference to millions of consumers dealing with Banks, NBFCs, and in the Digital Transactions space.
KYC, Re-KYC, Misconceptions around KYC and Dormant Account
KYC is a mandatory process by which bank/s, FI/s obtain information about the identity and address of the customers to establish the legitimacy of a customer.
Will all eligible depositors of banks under directions, moratorium get an interim payment of Maximum of Rs. 5 lacs from DICGC in 90 days?
The amendment has been made to the DICGC Act,1961 to provide interim payments to depositors subject to certain provisions stipulated in the DICGC (Amendment) Act, 2001.
RBIs directions on Auto re-designation of banking accounts into Senior Citizen Account
Please peruse below the text of an important and relevant portion of a simple query, supported with a clear example, I posed to DBR (RBI). The circular below was issued by RBI following the policy statement of Governor RBI in Oct 2017
Can a bank offer different rates of interest, on non-bulk Fixed Deposits?
Discussing whether a bank can prescribe different rates of interest for the same tenure, for the same amount, on the same day, for different FD products, at the same or different branches of the bank.
Inadequate oversight by financial regulators resulting in regulated entities practising random ways to generate revenue
Inadequate oversight by financial regulators resulting in regulated entities practising random ways to generate revenue
PMC almost became bankrupt overnight
Most of you may be reading, listening to the news on Punjab Maharashtra Co-operative Bank's failure and would broadly be aware as to how a co-operative bank
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