Press Releases - Regulating Commercial Banking - RBI - Reserve Bank of India
Press Releases
Jul 15, 2019
Reserve Bank of India imposes monetary penalty on State Bank of India
The Reserve Bank of India (RBI) has imposed, by an order dated July 15, 2019, monetary penalty of ₹ 70 million on State Bank of India (the bank) for non-compliance with the directions issued by RBI on (i) Income Recognition and Asset Classification (IRAC) norms (ii) code of conduct for opening and operating current accounts and reporting of data on Central Repository of Information on Large Credits (CRILC), and (iii) fraud risk management and classification and report
The Reserve Bank of India (RBI) has imposed, by an order dated July 15, 2019, monetary penalty of ₹ 70 million on State Bank of India (the bank) for non-compliance with the directions issued by RBI on (i) Income Recognition and Asset Classification (IRAC) norms (ii) code of conduct for opening and operating current accounts and reporting of data on Central Repository of Information on Large Credits (CRILC), and (iii) fraud risk management and classification and report
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Jul 15, 2019
Reserve Bank of India imposes monetary penalty on Union Bank of India
The Reserve Bank of India (RBI) has, on July 09, 2019, imposed a monetary penalty of ₹ one million on Union Bank of India (the bank) for non-compliance with the directions on cyber security framework in banks issued by RBI. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A (1) (c) read with Section 46(4) (i) and section 51 (1) of the Banking Regulation Act, 1949. This action is based on deficiencies in regulatory com
The Reserve Bank of India (RBI) has, on July 09, 2019, imposed a monetary penalty of ₹ one million on Union Bank of India (the bank) for non-compliance with the directions on cyber security framework in banks issued by RBI. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A (1) (c) read with Section 46(4) (i) and section 51 (1) of the Banking Regulation Act, 1949. This action is based on deficiencies in regulatory com
Jul 04, 2019
Scheduled Banks’ Statement of Position in India as on Friday, June 21, 2019
(Amount in Billions of ₹) SCHEDULED COMMERCIAL BANKS (Including RRBs) ALL SCHEDULED BANKS 22-Jun-18 07-JUN-2019 * 21-JUN-2019 * 22-Jun-18 07-JUN-2019 * 21-JUN-2019 * I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 1527.27 1744.89 1739.95 1572.36 1790.51 1786.68 ** b) Borrowings from banks 703.11 716.26 775.88 712.97 716.47 776.44 c) Other demand & time liabilities 185.24 103.15 107.96 186.95 104.36 109.26 II LIABILITIES TO OTHERS (A) a)
(Amount in Billions of ₹) SCHEDULED COMMERCIAL BANKS (Including RRBs) ALL SCHEDULED BANKS 22-Jun-18 07-JUN-2019 * 21-JUN-2019 * 22-Jun-18 07-JUN-2019 * 21-JUN-2019 * I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 1527.27 1744.89 1739.95 1572.36 1790.51 1786.68 ** b) Borrowings from banks 703.11 716.26 775.88 712.97 716.47 776.44 c) Other demand & time liabilities 185.24 103.15 107.96 186.95 104.36 109.26 II LIABILITIES TO OTHERS (A) a)
Jul 03, 2019
Reserve Bank of India Constitutes Working Group to Review Regulatory and Supervisory Framework for Core Investment Companies
In August 2010, the Reserve Bank had introduced a separate framework for the regulation of systemically important Core Investment Companies (CICs) recognising the difference in the business model of a holding company relative to other non-banking financial companies. Over the years, corporate group structures have become more complex involving multiple layering and leveraging, which has led to greater inter-connectedness with the financial system through their access
In August 2010, the Reserve Bank had introduced a separate framework for the regulation of systemically important Core Investment Companies (CICs) recognising the difference in the business model of a holding company relative to other non-banking financial companies. Over the years, corporate group structures have become more complex involving multiple layering and leveraging, which has led to greater inter-connectedness with the financial system through their access
Jul 02, 2019
Reserve Bank of India imposes monetary penalty on four banks
The Reserve Bank of India (RBI) has, by an order dated June 25, 2019, imposed monetary penalty on four banks for non-compliance with certain provisions of directions issued by RBI on Know Your Customer (KYC) norms / Anti Money Laundering (AML) Standards and Opening of Current Accounts, as detailed below: Sl. No. Name of the bank Amount of penalty (₹ in million) 1. Allahabad Bank 5 2. Corporation Bank 2.5 3. Punjab National Bank 5 4. UCO Bank 5 The penalties have been
The Reserve Bank of India (RBI) has, by an order dated June 25, 2019, imposed monetary penalty on four banks for non-compliance with certain provisions of directions issued by RBI on Know Your Customer (KYC) norms / Anti Money Laundering (AML) Standards and Opening of Current Accounts, as detailed below: Sl. No. Name of the bank Amount of penalty (₹ in million) 1. Allahabad Bank 5 2. Corporation Bank 2.5 3. Punjab National Bank 5 4. UCO Bank 5 The penalties have been
Jun 27, 2019
Financial Action Task Force (FATF) Public Statement dated June 21, 2019
The Financial Action Task Force (FATF) has called on its members and other jurisdictions to apply counter-measures to protect the international financial system from the ongoing and substantial money laundering and terrorist financing (ML/FT) risks emanating from the jurisdiction of Democratic People's Republic of Korea (DPRK). Jurisdiction of Iran is subject to a FATF call on its members to apply enhanced due diligence measures proportionate to the risks arising from
The Financial Action Task Force (FATF) has called on its members and other jurisdictions to apply counter-measures to protect the international financial system from the ongoing and substantial money laundering and terrorist financing (ML/FT) risks emanating from the jurisdiction of Democratic People's Republic of Korea (DPRK). Jurisdiction of Iran is subject to a FATF call on its members to apply enhanced due diligence measures proportionate to the risks arising from
Jun 19, 2019
Reserve Bank of India imposes monetary penalty on South Indian Bank Limited
The Reserve Bank of India (RBI) has imposed, by order dated June 13, 2019, monetary penalty of ₹1 million on South Indian Bank Limited (the bank) for non-compliance with directions issued by RBI on ‘Guarantees and Co-acceptances’. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to the aforesaid dir
The Reserve Bank of India (RBI) has imposed, by order dated June 13, 2019, monetary penalty of ₹1 million on South Indian Bank Limited (the bank) for non-compliance with directions issued by RBI on ‘Guarantees and Co-acceptances’. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to the aforesaid dir
Jun 19, 2019
Scheduled Banks’ Statement of Position in India as on Friday June 7, 2019
(Amount in Billions of ₹) SCHEDULED COMMERCIAL BANKS (Including RRBs and SFBs) ALL SCHEDULED BANKS 08-JUN-2018 24-MAY-2019 * 07-JUN-2019 * 08-JUN-2018 24-MAY-2019 * 07-JUN-2019 * I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 1530.74 1694.56 1745.07 1575.51 1739.45 1790.69 ** b) Borrowings from banks 821.9 710.42 716.26 827.92 710.45 716.47 c) Other demand & time liabilities 105.48 115.65 103.48 107.12 116.82 104.69 II LIABILITIES TO O
(Amount in Billions of ₹) SCHEDULED COMMERCIAL BANKS (Including RRBs and SFBs) ALL SCHEDULED BANKS 08-JUN-2018 24-MAY-2019 * 07-JUN-2019 * 08-JUN-2018 24-MAY-2019 * 07-JUN-2019 * I LIABILITIES TO THE BKG.SYSTEM (A) a) Demand & Time deposits from bks. 1530.74 1694.56 1745.07 1575.51 1739.45 1790.69 ** b) Borrowings from banks 821.9 710.42 716.26 827.92 710.45 716.47 c) Other demand & time liabilities 105.48 115.65 103.48 107.12 116.82 104.69 II LIABILITIES TO O
Jun 18, 2019
Reserve Bank of India imposes monetary penalty on HDFC Bank Limited
The Reserve Bank of India (RBI) has imposed, by order dated June 13, 2019, monetary penalty of ₹10 million on HDFC Bank Limited (the bank) for non-compliance with directions issued by RBI on ‘Know Your Customer (KYC/ Anti-Money Laundering (AML) norms’ and on reporting of frauds. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account f
The Reserve Bank of India (RBI) has imposed, by order dated June 13, 2019, monetary penalty of ₹10 million on HDFC Bank Limited (the bank) for non-compliance with directions issued by RBI on ‘Know Your Customer (KYC/ Anti-Money Laundering (AML) norms’ and on reporting of frauds. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account f
Jun 18, 2019
Report of the Committee on Micro, Small and Medium Enterprises
The Reserve Bank of India had constituted an ‘Expert Committee on Micro, Small and Medium Enterprises’ under the Chairmanship of Shri U K Sinha in January 2019 to suggest long-term measures for the economic and financial sustainability of the MSME sector. The committee included: 1. Shri U.K. Sinha Former Chairman, Securities and Exchange Board of India Chairman 2. Shri Ram Mohan Mishra Additional Secretary, Development Commissioner MSME Member 3. Shri Pankaj Jain Addi
The Reserve Bank of India had constituted an ‘Expert Committee on Micro, Small and Medium Enterprises’ under the Chairmanship of Shri U K Sinha in January 2019 to suggest long-term measures for the economic and financial sustainability of the MSME sector. The committee included: 1. Shri U.K. Sinha Former Chairman, Securities and Exchange Board of India Chairman 2. Shri Ram Mohan Mishra Additional Secretary, Development Commissioner MSME Member 3. Shri Pankaj Jain Addi
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