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- The Reserve Bank of India (RBI) has cancelled the licence of Maharashtra-based Vasantdada Nagari Sahakari Bank, with immediate effect. Vasantdada Nagari Sahakari Bank Ltd will now not be allowed to conduct the business of ‘banking’, including acceptance of deposits and repayment of deposits, with effect from the close of business on January 11, 2021.
- The Reserve Bank of India has imposed a penalty of Rs 2 crore on Deutsche Bank AG for non-compliance with certain provisions of directions concerning interest rate on deposits. The central bank said the statutory inspection of Deutsche Bank’s financial position as on March 31, 2019, and the Risk Assessment Report revealed non-compliance with the ‘Reserve Bank of India (Interest Rate on Deposits) Directions, 2016’. The action was based on the deficiencies in regulatory compliance and was not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
- President of the Republic of Suriname, Chandrikapersad Santokhi, will be the chief guest at India’s Republic Day parade on January 26. India had initially invited Boris Johnson to be the chief guest but the British PM had to cancel his visit in view of the grim coronavirus situation back home
History on this day
(1972) Bernice Gera wins anti-discrimination case against the National Baseball Congressl, initiated March 15, 1971 to be allowed to umpire
(2000) Microsoft chairman Bill Gates steps aside as chief executive and promotes company president Steve Ballmer to the position