The RBI said a penalty of Rs 1.91 crore has been imposed on Axis Bank for contravention of certain provisions of the Banking Regulation Act, and non-compliance with certain directions. The Reserve ...

Delivering a lecture on ‘State of the Economy ... initiating discussion under the never-used-before Section 7 of the RBI Act which empowers the government to issue directions to the RBI Governor.

RBI Governor Patel ... officials said. The lecture series is attended by chief vigilance officers (CVOs) -- who act as a distant arm of the CVC to check corruption in government departments ...

Delivering the AD Shroff Memorial Lecture, Acharya had in October that ... to the standoff where the never-used Section 7 of the RBI Act to issue directions to the central bank was discussed ...