The inquiry conducted by additional director of cooperative audit found that this auditor had committed grave errors in the auditing of the funds of the SC/ST Cooperative Federation.
The RBI has allowed banks to increase the fee for ATM transactions beyond the free monthly permissible limit in order to offset higher interchange fee.
As a result, services such as deposits and withdrawal at branches, cheque clearance and loan approvals might be affected due to the strike. But ATMs are expected to function as usual.
Through a note the RBI also restrained the cooperative societies from taking deposits from those members who do not have voting rights.
Madhav Nair, who hails from Thiruvananthapuram, has been a member of the IBA managing committee since 2016.
Auto debit payments, pre-instructed to foot monthly phone, and DTH bills, OTT platform subscriptions, etc. could henceforth be made only with the consent of the debit/credit cardholder.
The CPM inquiry commission has recommended action against a prominent leader of the party, a director board member of the bank, on charge of diverting loan amounts of customers to his personal bank account.
Based on the interim report submitted by the nine-member high-power committee constituted by the department to probe the matter, as many as 16 audit officials including the joint registrar were suspended on Wednesday.
The drop in credit score, which is determined by the credit rating agencies, would adversely affect the eligibility of each trader for seeking loans in future.
The Singapore-headquartered venture makes women aware about its credit report or score feature and the role it plays in making women financially independent.