Press Releases - RBI - Reserve Bank of India
Press Releases
Oct 12, 2015
RBI withdraws Directions issued to “Laxmi Vishnu Sahakari Bank Ltd., Ichalkaranji, Kolhapur, Maharashtra”
The Reserve Bank of India has withdrawn the All Inclusive Directions issued on March 28, 2006 to “Laxmi Vishnu Sahakari Bank Ltd., Ichalkaranji, Kolhapur, Maharashtra” with effect from the close of business as on October 12, 2015. The withdrawal of Directions is in exercise of powers vested in the Reserve Bank under sub section (2) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies). A copy of the Order is displayed on the bank'
The Reserve Bank of India has withdrawn the All Inclusive Directions issued on March 28, 2006 to “Laxmi Vishnu Sahakari Bank Ltd., Ichalkaranji, Kolhapur, Maharashtra” with effect from the close of business as on October 12, 2015. The withdrawal of Directions is in exercise of powers vested in the Reserve Bank under sub section (2) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies). A copy of the Order is displayed on the bank'
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Oct 08, 2015
RBI invites Second Tranche of Applications for Financial Assistance from Depositor Education and Awareness Fund
The Reserve Bank of India has invited second tranche of fresh applications for registering institutions, organisations and associations for grant of financial assistance from the Depositor Education and Awareness (DEA) Fund. The Reserve Bank has also revised provisions relating to the conditions required to be fulfilled by eligible entities, and some of the aspects relating to the procedure for decision of the Committee (paragraphs II.3 (b), II.3(c), and II.9(A)(2) of
The Reserve Bank of India has invited second tranche of fresh applications for registering institutions, organisations and associations for grant of financial assistance from the Depositor Education and Awareness (DEA) Fund. The Reserve Bank has also revised provisions relating to the conditions required to be fulfilled by eligible entities, and some of the aspects relating to the procedure for decision of the Committee (paragraphs II.3 (b), II.3(c), and II.9(A)(2) of
Oct 06, 2015
RBI imposes Monetary Penalty on Sardarganj Mercantile Co-operative Bank Ltd., Sardarganj, Dist. Anand (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh) on Sardarganj Mercantile Co-op. Bank Ltd. Sardarganj, Dist. Anand (Gujarat), in exercise of the powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation pertaining to (i) allowing premature withdrawal of Fixed Deposits despite operational instructions imposed
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh) on Sardarganj Mercantile Co-op. Bank Ltd. Sardarganj, Dist. Anand (Gujarat), in exercise of the powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation pertaining to (i) allowing premature withdrawal of Fixed Deposits despite operational instructions imposed
Oct 06, 2015
RBI imposes Monetary Penalty on The Pusad Urban Co-operative Bank Ltd., Pusad, District Yavatmal (Maharashtra)
The Reserve Bank of India has imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on the Pusad Urban Co-operative Bank Ltd., Pusad,District Yavatmal (Maharashtra) in exercise of powers vested in it under the provisions of Section 47A (1) (b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of the Know Your Customer norms and RBI instructions. The Reserve Bank of India had issued a show cau
The Reserve Bank of India has imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on the Pusad Urban Co-operative Bank Ltd., Pusad,District Yavatmal (Maharashtra) in exercise of powers vested in it under the provisions of Section 47A (1) (b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of the Know Your Customer norms and RBI instructions. The Reserve Bank of India had issued a show cau
Oct 06, 2015
RBI imposes Monetary Penalty on The Washim Urban Cooperative Bank Ltd., Washim (Maharashtra)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on the Washim Urban Cooperative Bank Ltd., Washim (Maharashtra), in exercise of powers vested in it under the provisions of Section 47A (1) (b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of the Know Your Customer norms and RBI instructions. The Reserve Bank of India had issued a show cause notice to th
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on the Washim Urban Cooperative Bank Ltd., Washim (Maharashtra), in exercise of powers vested in it under the provisions of Section 47A (1) (b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of the Know Your Customer norms and RBI instructions. The Reserve Bank of India had issued a show cause notice to th
Sep 30, 2015
RBI issues Directions to Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra
The Reserve Bank of India that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India has issued certain Directions to Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra, whereby, from the close of business on September 30, 2015 the aforesaid bank shall not, without prior approval in writing
The Reserve Bank of India that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India has issued certain Directions to Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra, whereby, from the close of business on September 30, 2015 the aforesaid bank shall not, without prior approval in writing
Sep 30, 2015
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh - Modification
The Reserve Bank of India has notified that in partial modification of its directive it has, vide directive dated September 23, 2015, relaxed the directions imposed on the Brahmawart Commercial Co-operative Bank Ltd., Kanpur Now, depositor will be allowed to withdraw up to ₹ 40,000/- (Rupees Forty Thousand only) per depositor (including ₹ 1,000/- wherever already allowed) subject to the conditions specified in the modified directive. All other provisions of the earlie
The Reserve Bank of India has notified that in partial modification of its directive it has, vide directive dated September 23, 2015, relaxed the directions imposed on the Brahmawart Commercial Co-operative Bank Ltd., Kanpur Now, depositor will be allowed to withdraw up to ₹ 40,000/- (Rupees Forty Thousand only) per depositor (including ₹ 1,000/- wherever already allowed) subject to the conditions specified in the modified directive. All other provisions of the earlie
Sep 29, 2015
RBI further extends Directions issued to Shree Ganesh Sahakari Bank Ltd., Nashik, Maharashtra
The Reserve Bank of India notified that Shree Ganesh Sahakari Bank Ltd., Nashik was placed under directions for a period of six months vide directive No. UBD.CO.BSD-I/D-39/12.22.435/2012-13 dated April 01, 2013 under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive was extended four times for a period of six months each vide our directives dated September 23, 2013, March 27, 2014, September 17, 2014 and March 19, 2015 res
The Reserve Bank of India notified that Shree Ganesh Sahakari Bank Ltd., Nashik was placed under directions for a period of six months vide directive No. UBD.CO.BSD-I/D-39/12.22.435/2012-13 dated April 01, 2013 under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive was extended four times for a period of six months each vide our directives dated September 23, 2013, March 27, 2014, September 17, 2014 and March 19, 2015 res
Sep 23, 2015
RBI extends Directions issued to the Pioneer Urban Co-operative Bank Ltd., Lucknow, Uttar Pradesh till March 23, 2016
The Reserve Bank of India has extended Directions issued to the Pioneer Urban Co-operative Bank Ltd., Lucknow for a further period of six months from September 24, 2015 to March 23, 2016, subject to review. The bank has been under directions since March 24, 2015. According to the Directions, Pioneer Urban Co-operative Bank Ltd., Lucknow cannot and without prior approval of the Reserve Bank in writing grant or renew any loans and advances, make any investment, incur an
The Reserve Bank of India has extended Directions issued to the Pioneer Urban Co-operative Bank Ltd., Lucknow for a further period of six months from September 24, 2015 to March 23, 2016, subject to review. The bank has been under directions since March 24, 2015. According to the Directions, Pioneer Urban Co-operative Bank Ltd., Lucknow cannot and without prior approval of the Reserve Bank in writing grant or renew any loans and advances, make any investment, incur an
Sep 23, 2015
RBI to issue ₹ 50 Banknotes with Inset 'R' and Numerals in Ascending Size
The Reserve Bank of India will shortly issue banknotes in ₹ 50 denomination in Mahatma Gandhi Series - 2005, with the numerals in both the number panels in ascending size from left to right while the first three alpha-numeric characters(prefix) will remain constant in size. The banknotes will also have inset letter 'R'. The bank notes will bear the signature of Dr. Raghuram G.Rajan, Governor, Reserve Bank of India, and the year of printing '2015' printed on the revers
The Reserve Bank of India will shortly issue banknotes in ₹ 50 denomination in Mahatma Gandhi Series - 2005, with the numerals in both the number panels in ascending size from left to right while the first three alpha-numeric characters(prefix) will remain constant in size. The banknotes will also have inset letter 'R'. The bank notes will bear the signature of Dr. Raghuram G.Rajan, Governor, Reserve Bank of India, and the year of printing '2015' printed on the revers
Sep 22, 2015
RBI to issue ₹ 500 and ₹1000 Banknotes with Three Additional Features
The Reserve Bank of India will shortly put into circulation banknotes in the denominations of ₹ 500 and ₹ 1000 incorporating three new/revised features - (i) ascending size of numerals in the number panels, (ii) bleed lines, and (iii) enlarged identification mark. It may be recalled that the Reserve Bank recently put into circulation ₹ 500 and ₹ 1000 banknotes with numerals in ascending size in number panels but without bleed lines and enlarged identification mark. It
The Reserve Bank of India will shortly put into circulation banknotes in the denominations of ₹ 500 and ₹ 1000 incorporating three new/revised features - (i) ascending size of numerals in the number panels, (ii) bleed lines, and (iii) enlarged identification mark. It may be recalled that the Reserve Bank recently put into circulation ₹ 500 and ₹ 1000 banknotes with numerals in ascending size in number panels but without bleed lines and enlarged identification mark. It
Sep 18, 2015
RBI imposes Monetary Penalty on The Kurmanchal Nagar Sahkari Bank Ltd., Nainital, Uttarakhand
The Reserve Bank of India has imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh Only) on The Kurmanchal Nagar Sahkari Bank Ltd., Nainital, Uttarakhand, in exercise of the powers vested in it, under the provisions of Section 47-A (1) (b) read with Section 46 (4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of the directive/ guideline of the Reserve Bank of India on loans and advances to directors/their relatives/
The Reserve Bank of India has imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh Only) on The Kurmanchal Nagar Sahkari Bank Ltd., Nainital, Uttarakhand, in exercise of the powers vested in it, under the provisions of Section 47-A (1) (b) read with Section 46 (4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of the directive/ guideline of the Reserve Bank of India on loans and advances to directors/their relatives/
Sep 16, 2015
RBI grants “In-principle” Approval to 10 Applicants for Small Finance Banks
The Reserve Bank of India (RBI) has today decided to grant “in-principle” approval to the following 10 applicants to set up small finance banks under the “Guidelines for Licensing of Small Finance Banks in the private sector” (Guidelines) issued on November 27, 2014. Names of selected applicants Au Financiers (India) Ltd., Jaipur Capital Local Area Bank Ltd., Jalandhar Disha Microfin Private Ltd., Ahmedabad Equitas Holdings P Limited, Chennai ESAF Microfinance and Inv
The Reserve Bank of India (RBI) has today decided to grant “in-principle” approval to the following 10 applicants to set up small finance banks under the “Guidelines for Licensing of Small Finance Banks in the private sector” (Guidelines) issued on November 27, 2014. Names of selected applicants Au Financiers (India) Ltd., Jaipur Capital Local Area Bank Ltd., Jalandhar Disha Microfin Private Ltd., Ahmedabad Equitas Holdings P Limited, Chennai ESAF Microfinance and Inv
Sep 15, 2015
National Financial Literacy Assessment Test 2015-2016 on November 28-29
National Centre for Financial Education (NCFE) will conduct the National Financial Literacy Assessment Test for 2015-2016 (NCFE-NFLAT 2015-16) on November 28 and 29, 2015. School students from classes VIII to X can participate in the test. National Institute of Securities Markets (NISM) has been identified as the nodal agency for the implementation of the National Strategy for Financial Education (NSFE). National Centre for Financial Education (NCFE) has been set up w
National Centre for Financial Education (NCFE) will conduct the National Financial Literacy Assessment Test for 2015-2016 (NCFE-NFLAT 2015-16) on November 28 and 29, 2015. School students from classes VIII to X can participate in the test. National Institute of Securities Markets (NISM) has been identified as the nodal agency for the implementation of the National Strategy for Financial Education (NSFE). National Centre for Financial Education (NCFE) has been set up w
Sep 10, 2015
RBI extends Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh till December 11, 2015
The Reserve Bank of India has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of three months from September 12, 2015 to December 11, 2015, subject to review. The bank has been under directions since June 12, 2014. According to the Directions, the Indian Mercantile Co-operative Bank Ltd., Lucknow cannot and without prior approval of the Reserve Bank in writing grant or renew any loans and advances, make any
The Reserve Bank of India has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of three months from September 12, 2015 to December 11, 2015, subject to review. The bank has been under directions since June 12, 2014. According to the Directions, the Indian Mercantile Co-operative Bank Ltd., Lucknow cannot and without prior approval of the Reserve Bank in writing grant or renew any loans and advances, make any
Sep 10, 2015
Ms. Anjuly Chib Duggal nominated on RBI Central Board
The Central Government has nominated Ms. Anjuly Chib Duggal, Secretary, Department of Financial Services, Ministry of Finance, New Delhi as a Director on the Central Board of Directors of the Reserve Bank of India vice Dr. Hasmukh Adhia. Ms. Anjuly Chib Duggal’s nomination is with effect from September 3, 2015 and until further orders. Alpana Killawala Principal Chief General Manager Press Release: 2015-2016/635
The Central Government has nominated Ms. Anjuly Chib Duggal, Secretary, Department of Financial Services, Ministry of Finance, New Delhi as a Director on the Central Board of Directors of the Reserve Bank of India vice Dr. Hasmukh Adhia. Ms. Anjuly Chib Duggal’s nomination is with effect from September 3, 2015 and until further orders. Alpana Killawala Principal Chief General Manager Press Release: 2015-2016/635
Sep 10, 2015
RBI further extends Directions issued to Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, District - Pune, Maharashtra
Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, District - Pune, Maharashtra was placed under directions for a period of six months vide directive UBD.CO.BSD-1 No./D-09/12.22.460/2014-15 dated September 10, 2014 from the close of business on September 12, 2014. The validity of the aforesaid directive was further extended for a period of six months vide directive dated March 04, 2015 from the close of business on March 11, 2015. It is hereby notified for
Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, District - Pune, Maharashtra was placed under directions for a period of six months vide directive UBD.CO.BSD-1 No./D-09/12.22.460/2014-15 dated September 10, 2014 from the close of business on September 12, 2014. The validity of the aforesaid directive was further extended for a period of six months vide directive dated March 04, 2015 from the close of business on March 11, 2015. It is hereby notified for
Sep 09, 2015
RBI issues Directions to The Vaish Co-operative Commercial Bank Ltd., New Delhi
The Reserve Bank of India is satisfied that in the interest of the public it is necessary to issue certain directions to The Vaish Co-operative Commercial Bank Ltd., New Delhi. Accordingly, the Reserve Bank of India in exercise of the powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949 hereby directs that The Vaish Co-operative Co
The Reserve Bank of India is satisfied that in the interest of the public it is necessary to issue certain directions to The Vaish Co-operative Commercial Bank Ltd., New Delhi. Accordingly, the Reserve Bank of India in exercise of the powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949 hereby directs that The Vaish Co-operative Co
Sep 09, 2015
RBI issues Directions to Shree Govardhansinghji Raghuvanshi Sahakari Bank Ltd., Nandurbar, Maharashtra
The Reserve Bank of India notified that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India has issued certain Directions to Shree Govardhansinghji Raghuvanshi Sahakari Bank Ltd., Nandurbar, Maharashtra, whereby, as from the close of business on September 9, 2015, the aforesaid bank shall
The Reserve Bank of India notified that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India has issued certain Directions to Shree Govardhansinghji Raghuvanshi Sahakari Bank Ltd., Nandurbar, Maharashtra, whereby, as from the close of business on September 9, 2015, the aforesaid bank shall
Sep 09, 2015
RBI issues Directions to Nashik Jilha Girna Sahakari Bank Ltd., Nashik, Maharashtra
The Reserve Bank of India notified that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India has issued certain Directions to Nashik Jilha Girna Sahakari Bank Ltd., Nashik, Maharashtra, whereby, as from the close of business on September 9, 2015, the aforesaid bank shall not, without prior
The Reserve Bank of India notified that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India has issued certain Directions to Nashik Jilha Girna Sahakari Bank Ltd., Nashik, Maharashtra, whereby, as from the close of business on September 9, 2015, the aforesaid bank shall not, without prior
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