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Another EPFO trustee and Bharatiya Mazdoor Sangh member P J Banasure said the issue has been deliberated upon in the Finance, Audit and Investment Committee (FAIC) meeting of the EPFO. FAIC has already rejected the proposal to use unclaimed EPF money for creation of any senior citizen welfare fund.
Chinese banks' viability ratings (VRs), which range from 'bb' to 'b', reflect substantial but varying risks to capital and asset quality. Fitch's base-case assessment of banks' intrinsic profiles considers relative loss-absorption capacity rather than subjectively adjusting reported NPL data.
The penalties have been imposed in exercise of powers vested in the Reserve Bank under the provisions of Section 47(A) (1) (c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account the violations of the instructions/directions/guidelines issued by the Reserve Bank from time to time.