Reserve Bank of India (RBI) has issued a show-cause notice prior to cancelling the licence of fraud-hit Sambandh Finserve Pvt Ltd. after its networth eroded below the regulatory minimum and financial situation worsened beyond redemption over the recent months. Sambandh is registered as an NBFC-MFI.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The Managing Director and CEO of Sambandh, Deepak Kindo, who was allegedly the main perpetrator of the fraud, has been arrested by Economic Offence Wing, Chennai. According to the RBI norms, NBFC is required to maintain minimum capital levels consisting of Tier-I and Tier-II capital, of not less than 15 per cent of their aggregate risk-weighted assets.
Important takeaways for all competitive exams:
Honorable Union Minister for Youth Affairs and Sports Dr Mansukh Mandaviya announced that the Khelo…
The Government e Marketplace (GeM) celebrated the completion of seven years of the SWAYATT initiative.…
Did you know that millions of people around the world celebrate International Women’s Day every…
In the Karnataka Budget 2026 The State government proposed a social media ban. Chief Minister…
Missile technology plays a crucial role in modern military strategy. Countries invest heavily in ballistic…
Ballistic missiles are among the most important strategic weapons in modern defense systems. Countries develop…