A day before people start approaching banks to give up the high value notes, Reserve Bank of India Governor Shaktikanta Das said that the ₹2,000 note continues to be legal tender and shops cannot decline them. He said today that no one should rush to return or exchange their ₹2,000 notes. He...
RBI's action against Paytm and Kotak Mahindra Bank for non-compliance raised concerns. Kotak Mahindra's failure to meet data storage requirements led to RBI directives. Similar actions were taken against HDFC Bank in 2020. The events underscore the need for stronger regulatory mechanisms.
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