Tag: PPI
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Lloyds Warns of Bigger Hit from Motor Finance Scandal as Provisions Rise
Overview: Lloyds signals a potentially larger bill from car loan mis-selling Lloyds Banking Group has indicated that its financial exposure to the motor finance scandal could be larger than previously anticipated. The group signalled that additional provisions may be required as investigations advance and the scope of potential payouts becomes clearer. This development adds another…
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PhonePe Faces ₹21 Lakh Fine from RBI: Understanding the Reasons
Introduction In a significant move, the Reserve Bank of India (RBI) has imposed a fine of ₹21 lakh on PhonePe Limited, one of India’s leading digital payment firms. This action raises important questions about compliance and regulatory practices within the fast-evolving financial technology sector. What Led to the Fine? The monetary penalty was primarily imposed…