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RBI bars Equitas from opening new branches

RBI bars Equitas from opening new branches

Finance
MUMBAI: The Reserve Bank of India (RBI) has taken action against Equitas Small Finance Bank (ESFB) for failing to meet the deadline for getting its shares listed. The central bank has barred the lender from opening any new branches and has also frozen the salary of the CEO. Equitas Bank received the final licence from the RBI in July 2016. One of the pre-conditions was that the bank would get itself listed within three years. "Listing of SFBs within three years of reaching net worth of Rs 500 crore is mandatory as outlined in the guidelines and as communicated at the time of in-principle approval," the RBI said in a letter to the bank's MD & CEO. The central bank also warned that it may impose further restrictions if the bank fails to make satisfactory progress towards listing its shar...
Gold bars found in South Korea airport trash pose legal quandary

Gold bars found in South Korea airport trash pose legal quandary

World
June 3 (UPI) -- South Korean authorities are facing a dilemma following the discovery of more than 2 pounds of gold bullion in a trash receptacle at Incheon International Airport. The seven gold bars were discovered on April 28, 2018, at about 5 p.m. by an airport custodian, according to South Korea's customs office and Seoul police agency on Monday, Newsis and News 1 reported. The gold bullion is estimated to be worth nearly $ 300,000 at current exchange rates. Police said they have identified three suspects who were attempting to smuggle the precious metal from Hong Kong to Japan, using a route that involves a transfer at Incheon, South Korea. The suspects were using the route to circumvent tougher inspections that are reportedly in place at Japanese ports of entry for arrivals from H...
The Latest: Ukraine bars entry to Russian men from 16 to 60

The Latest: Ukraine bars entry to Russian men from 16 to 60

World
The Latest on Russia-Ukraine tensions (all times local): 12:40 p.m. Russia's foreign ministry says that Moscow is not going to mirror the travel ban that Ukraine has imposed on Russian men. Ukrainian officials announced earlier on Friday that all Russian men aged between 16 and 60 will be barred from entering Ukraine for the 30-day duration of martial law. The statement is the latest step in the escalation of the long-simmering conflict between Russia and Ukraine which began in 2014 with Russia's annexation of Crimea. Russian Foreign Ministry spokeswoman Maria Zakharova told reporters that Russia is not planning to impose similar measures on Ukrainians. Zakharova blamed the Ukrainian government for implementing a policy that hurts ordinary people. ——— 12 p.m. The Ukrain...
US closes consular agency in Mexico, bars employee travel over 'security threat'

US closes consular agency in Mexico, bars employee travel over 'security threat'

World
The U.S. has closed its consular agency in a popular Mexican tourist spot and is barring its employees from traveling there over a "security threat." The embassy in Mexico City issued the alert Wednesday night for Playa del Carmen, a coastal resort town near Cancun and Cozumel on the Caribbean. The warnings come after a bomb exploded on a ferry that runs between Playa del Carmen and Cozumel in February and an unexploded ordinance was found on another ferry a week later. The State Department provided few details on what the threat was -- saying only that one was received by the embassy in Mexico City on Wednesday. "We take our obligation to provide information to U.S. citizens seriously as evidenced by the clear, timely, and reliable safety and security information we release worldwide...