RBI slaps Rs 5 lakh penalty on Gondal Nagrik Sahakari Bank

Source :ET:PTI:23 DEC, 2011, 01.26PM IST, 


MUMBAI: The Reserve Bank has imposed a penalty of Rs 5 lakh on cooperative sector lender Gondal Nagrik Sahakari Bank for its failure to adhere to guidelines on disclosure of loans to directors. 

"The RBI has imposed a monetary penalty of Rs 5 lakh on the Gondal Nagrik Sahakari Bank Ltd... for granting loan to directors, not correctly reporting loans to directors to RBI in the statutory returns on advances to directors...," the apex bank said in a statement. 

Gondal Nagrik Sahakari Bank was also found guilty of not submitting cash transaction reports to the Financial Intelligence Unit-India (FIU-IND). 

The RBI had earlier issued a show-cause notice to the bank in response to which the bank submitted a written reply. 

"After considering the facts of the case and the bank's reply as also personal submissions in the matter, the RBI came to the conclusion that the violation was substantiated and warranted imposition of the penalty," the statement said.

1,000,000,000,000

Source :Time :23 DEC 2011

Rebecca Black has another reason to celebrate Friday, with her disturbingly catchy song named by YouTube as its most-watched video of the year, with a staggering 180 million views since it was first uploaded in March, but the title comes with a catch: 

It’s the most-watched video that isn’t from a major music label–once those videos are added, it only ranks seventh on the list, with Jennifer Lopez’s “On The Floor (ft. Pitbull)” topping the charts at over 450 million views. 

Overall, YouTube reports, there were more than one trillion playbacks on the site in 2011, which works out to roughly 140 views for every person on earth.

 If you consider how many people on earth don’t even have access to YouTube, it does make you wonder who’s watching so many videos–and whether or not they’re just alternating between Jennifer Lopez and Rebecca Black.