Latest News
RBI imposes Rs 2 crore monetary penalty on RBL Bank
The Reserve Bank of India on Monday imposed a penalty of Rs 2 crore on RBL Bank for breaching deposit, board composition norms. An examination carried out by the RBI showed that the private lender was non-compliant in opening five savings deposit accounts for a cooperative bank.
The Statutory Inspection for Supervisory Evaluation (ISE) of the bank was conducted by RBI which took into account the lender’s
financial position as of March 31, 2019.
“The examination of the Risk Assessment Report and Inspection Report pertaining to ISE 2019, RBI letter dated October 27, 2020, and related correspondence in the matter, revealed, contravention of directions and non-compliance with the opening of five savings deposit accounts in the name of a co-operative bank and failure to comply with the provisions of section 10A(2)(b) of the Act relating to the composition of Board of Directors,” the RBI said in a statement.
The RBI said it had also issued a notice to the bank asking it to explain why a penalty should not be imposed on it. “After considering the bank’s reply to the show-cause notice, oral submissions made during the personal hearing, and examination of additional submissions made by the bank, RBI came to the conclusion that contravention warranted imposition of monetary penalty on the bank,” the regulator said.
Latest News
Airport Cable Theft Accused Dies in Police Custody
38-year-old man was arrested in connection with alleged cable theft at Navi Mumbai International Airport site.
The Death
A 38-year-old man arrested in connection with an alleged cable theft at the Navi Mumbai International Airport construction site died while in police custody at the NRI Sagari Police Station in Navi Mumbai. The deceased, identified as Sanjay Kantu Yadav, was a resident of Ulwe and originally from Varanasi. Police had arrested him on October 4 in connection with the alleged theft of electrical cables from the airport construction area. A court had subsequently remanded him to police custody until October 8.
According to police, Yadav was inside the lock-up around midnight when his condition suddenly deteriorated. His hands and legs reportedly became stiff, following which police immediately took him to Meenatai Thackeray Hospital in Nerul. Yadav was admitted to the hospital at around 12:50 am. Despite medical treatment, his condition worsened and doctors declared him dead at approximately 1:36 am.
Police officials said Yadav had undergone a medical examination before his arrest and had not reported any health problems. He was also produced before the court without raising any health-related concerns.
As the death occurred while Yadav was in police custody, the authorities have initiated the required legal and medical procedures. A post-mortem examination will determine the exact cause of death, while further inquiry into the circumstances surrounding the incident is underway.
Latest News
NMMC Assures Action on Rs 7,500 Allowance for Contract Workers
Written assurance follows MNS protest demanding implementation of civic body’s earlier decision.
The Allowance
The Navi Mumbai Municipal Corporation (NMMC) has assured that a proposal to provide a Rs 7,500 monthly allowance to eligible contract workers will be placed before the Standing Committee for consideration.
The assurance came after the Maharashtra Navnirman Sena (MNS) organised a ‘Topi Morcha’ at the NMMC headquarters on October 8, demanding implementation of the allowance. The protest was held over the delay despite the NMMC General Body approving the proposal through Resolution No. 652 on June 19, 2026.
MNS leaders and labour representatives later met NMMC Commissioner Dr Kailas Shinde and raised the issue of the pending allowance. The commissioner reportedly gave a written assurance that the proposal would be placed before the Standing Committee.
The delegation also highlighted salary and classification-related issues concerning employees working in the NMMC electricity department. The commissioner assured the representatives that the matter would be examined and addressed within a month. Following the assurances, the MNS temporarily called off the protest. However, MNS leader Sandeep Deshpande warned that the agitation could be intensified if the civic administration fails to act on its commitments.
The development has raised expectations among contract workers, who have been awaiting implementation of the allowance approved by the civic body.
Latest News
Wahal Chowk Traffic Jams Frustrate Ulwe Commuters
Residents Seek Better Traffic Management as Congestion Worsens During Peak Hours.
The Traffic Jams
Daily commuters in Ulwe are facing increasing traffic congestion at Wahal Chowk, causing delays and inconvenience, particularly during peak hours. The traffic situation has reportedly worsened due to ongoing road work and the growing number of vehicles using the area. Office-goers, motorists and auto-rickshaw passengers are among those affected by the frequent traffic jams.
The stretch near Malvan Tadka Hotel and Wahal Junction is witnessing heavy congestion, with traffic building up over nearly a kilometre during busy periods. Commuters say the absence of adequate traffic management and personnel at key points is adding to the problem. Shagun Chowk is another area where traffic movement has remained challenging. Although a traffic signal has been installed following complaints from residents, commuters say the situation continues to be difficult, especially during the evening and night.
The rapid development of Ulwe and increasing connectivity to Mumbai, including through the Atal Setu, have led to a rise in vehicular movement in the area. Residents fear that traffic problems could become more serious as the population and vehicle numbers continue to grow. Commuters have urged the authorities to deploy traffic personnel during peak hours, improve traffic management and ensure proper functioning of signals at important junctions.
Residents hope that timely action will help ease congestion and make daily travel through Wahal Chowk and surrounding areas safer and smoother.
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