ಪತ್ರಿಕಾ ಪ್ರಕಟಣೆಗಳು - ಆರ್ಬಿಐ - Reserve Bank of India
ಪತ್ರಿಕಾ ಪ್ರಕಟಣೆಗಳು
ಮಾರ್ಚ್ 29, 2018
Reserve Bank of India imposes monetary penalty on ICICI Bank Limited
The Reserve Bank of India (RBI) has imposed through an order dated March 26, 2018, a monetary penalty of ₹589 million on ICICI Bank Limited (the bank) for non-compliance with directions issued by RBI on direct sale of securities from its HTM portfolio and specified disclosure in this regard. 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) of the Banking Regulation Act, 1949, taking
The Reserve Bank of India (RBI) has imposed through an order dated March 26, 2018, a monetary penalty of ₹589 million on ICICI Bank Limited (the bank) for non-compliance with directions issued by RBI on direct sale of securities from its HTM portfolio and specified disclosure in this regard. 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) of the Banking Regulation Act, 1949, taking
ಮಾರ್ಚ್ 28, 2018
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – Shree Ganesh Sahakari Bank Ltd, Nashik, Maharashtra- Extension of period and relaxation in directions
The Shree Ganesh Sahakari Bank Ltd, Nashik, Maharashtra, was placed under directions vide directive dated April 01, 2013 from close of business on April 02, 2013. The validity of the directions was extended from time to time vide subsequent modified Directives, the last being Directive dated September 25, 2017 upto March 29, 2018, subject to review. In terms of the existing directions, among other conditions, a sum not exceeding ₹ 70,000/- of the total balance in ever
The Shree Ganesh Sahakari Bank Ltd, Nashik, Maharashtra, was placed under directions vide directive dated April 01, 2013 from close of business on April 02, 2013. The validity of the directions was extended from time to time vide subsequent modified Directives, the last being Directive dated September 25, 2017 upto March 29, 2018, subject to review. In terms of the existing directions, among other conditions, a sum not exceeding ₹ 70,000/- of the total balance in ever
ಮಾರ್ಚ್ 28, 2018
Jana Small Finance Bank Limited commences operations
Jana Small Finance Bank Limited has commenced operations as a small finance bank with effect from March 28, 2018. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India. Janalakshmi Financial Services Private Limited, Bengaluru was one of the ten applicants which were issued in-principle approval for setting up a small finance bank, as announced in the press rel
Jana Small Finance Bank Limited has commenced operations as a small finance bank with effect from March 28, 2018. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India. Janalakshmi Financial Services Private Limited, Bengaluru was one of the ten applicants which were issued in-principle approval for setting up a small finance bank, as announced in the press rel
ಮಾರ್ಚ್ 28, 2018
Applicable Average Base Rate to be charged by NBFC-MFIs for the Quarter Beginning April 01, 2018
The Reserve Bank of India has today communicated that the applicable average base rate to be charged by Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning April 01, 2018 will be 8.99 per cent. It may be recalled that the Reserve Bank had, in its circular dated February 7, 2014, issued to NBFC-MFIs regarding pricing of credit, stated that it will, on the last working day of every quarter, advise the avera
The Reserve Bank of India has today communicated that the applicable average base rate to be charged by Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning April 01, 2018 will be 8.99 per cent. It may be recalled that the Reserve Bank had, in its circular dated February 7, 2014, issued to NBFC-MFIs regarding pricing of credit, stated that it will, on the last working day of every quarter, advise the avera
ಮಾರ್ಚ್ 27, 2018
Annual Closing of the Bank Accounts – April 02, 2018 Keeping Bank’s Offices open for public transactions
With a view to providing greater convenience to tax payers, it has been decided that RBI Offices and all designated branches of agency banks conducting government banking will keep their counters open up to 8.00 p.m. on March 31, 2018, electronic transactions can be done till the midnight of that day. In order to facilitate Government receipts and payments, necessary arrangements have also been made to conduct special clearing operations across the country. Centralise
With a view to providing greater convenience to tax payers, it has been decided that RBI Offices and all designated branches of agency banks conducting government banking will keep their counters open up to 8.00 p.m. on March 31, 2018, electronic transactions can be done till the midnight of that day. In order to facilitate Government receipts and payments, necessary arrangements have also been made to conduct special clearing operations across the country. Centralise
ಮಾರ್ಚ್ 26, 2018
RBI imposed penalty on Urban Co-operative Bank Ltd., Sitapur
The Reserve Bank of India has imposed a monetary penalty of ₹ 5,00,000/- (₹ five lakh only) on Urban Co-operative Bank Ltd., Sitapur in exercise of powers vested in it under the provisions of Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for continuous non-submission of the returns u/s 27 of the Act ibid. The Reserve Bank of India had issued a show cause notice to the bank, in response to which
The Reserve Bank of India has imposed a monetary penalty of ₹ 5,00,000/- (₹ five lakh only) on Urban Co-operative Bank Ltd., Sitapur in exercise of powers vested in it under the provisions of Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for continuous non-submission of the returns u/s 27 of the Act ibid. The Reserve Bank of India had issued a show cause notice to the bank, in response to which
ಮಾರ್ಚ್ 23, 2018
12 NBFCs surrender their Certificate of Registration to RBI
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1 M/s Surya India Limited B-1/H-3, Mohan Co-operative Industrial Estate, Main Mathur
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1 M/s Surya India Limited B-1/H-3, Mohan Co-operative Industrial Estate, Main Mathur
ಮಾರ್ಚ್ 23, 2018
Cancellation of Certificate of Registration of NBFC
The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following company. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1 M/s Lofty Securities Private Limited (Presently known as Lofty Securities Limited) 8, Lyons Range, Ist Floor, Room no. 11, Mitra Building, Kolkata-700 001 B.05.04764 January 20, 2003 J
The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following company. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1 M/s Lofty Securities Private Limited (Presently known as Lofty Securities Limited) 8, Lyons Range, Ist Floor, Room no. 11, Mitra Building, Kolkata-700 001 B.05.04764 January 20, 2003 J
ಮಾರ್ಚ್ 14, 2018
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – Sanmitra Sahakari Bank Maryadit, Mumbai, Maharashtra
Sanmitra Sahakari Bank Maryadit, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated June 14, 2016 from the close of business on June 14, 2016. The validity of the directions was extended from time to time vide subsequent Directives, the last being upto March 14, 2018 vide Directive dated September 08, 2017, subject to review. It is hereby notified for the information of the public that , the Reserve Bank of India, in exerc
Sanmitra Sahakari Bank Maryadit, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated June 14, 2016 from the close of business on June 14, 2016. The validity of the directions was extended from time to time vide subsequent Directives, the last being upto March 14, 2018 vide Directive dated September 08, 2017, subject to review. It is hereby notified for the information of the public that , the Reserve Bank of India, in exerc
ಮಾರ್ಚ್ 09, 2018
RBI extends validity of the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh
The Reserve Bank of India (RBI) has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from March 12, 2018 to September 11, 2018, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified / its validity was extended vide RBI
The Reserve Bank of India (RBI) has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from March 12, 2018 to September 11, 2018, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified / its validity was extended vide RBI
ಮಾರ್ಚ್ 09, 2018
RBI announces Visiting Fellow Programme
The Reserve Bank of India announces “RBI Visiting Fellow Programme” for experts from foreign central banks, international organizations, foreign universities, and other research bodies abroad. The key features of the programme are annexed. Interested candidates may apply along with CV and research proposal via email. Jose J. Kattoor Chief General Manager Press Release : 2017-2018/2413
The Reserve Bank of India announces “RBI Visiting Fellow Programme” for experts from foreign central banks, international organizations, foreign universities, and other research bodies abroad. The key features of the programme are annexed. Interested candidates may apply along with CV and research proposal via email. Jose J. Kattoor Chief General Manager Press Release : 2017-2018/2413
ಮಾರ್ಚ್ 09, 2018
Reserve Bank of India imposes monetary penalty on Airtel Payments Bank Limited
The Reserve Bank of India (RBI) has imposed, on March 07, 2018, a monetary penalty of ₹ 50 million on Airtel Payments Bank Limited (the bank) for contravening the ‘Operating Guidelines for Payments Banks’ and directions issued by RBI on Know Your Customer (KYC) norms. 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) of the Banking Regulation Act, 1949, taking into account failure of
The Reserve Bank of India (RBI) has imposed, on March 07, 2018, a monetary penalty of ₹ 50 million on Airtel Payments Bank Limited (the bank) for contravening the ‘Operating Guidelines for Payments Banks’ and directions issued by RBI on Know Your Customer (KYC) norms. 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) of the Banking Regulation Act, 1949, taking into account failure of
ಮಾರ್ಚ್ 08, 2018
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 Bhilwara Mahila Urban Co-operative Bank Ltd., Bhilwara (Rajasthan)
It is hereby notified for the information of the public that in exercise of powers vested in it under sub-section (1) of section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) is satisfied that in public interest it is necessary to extend the period of operation of Directions issued to Bhilwara Mahila Urban Co-operative Bank Ltd., Bhilwara (Rajasthan) vide its directive dated March 07, 2017, effective from March 9, 2017
It is hereby notified for the information of the public that in exercise of powers vested in it under sub-section (1) of section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) is satisfied that in public interest it is necessary to extend the period of operation of Directions issued to Bhilwara Mahila Urban Co-operative Bank Ltd., Bhilwara (Rajasthan) vide its directive dated March 07, 2017, effective from March 9, 2017
ಮಾರ್ಚ್ 08, 2018
Reserve Bank of India imposes monetary penalty on Equitas Small Finance Bank Limited
The Reserve Bank of India (RBI) has imposed, on March 01, 2018, a monetary penalty of ₹ one million on Equitas Small Finance Bank Limited (the bank) for non-compliance with one of the licensing conditions stipulated 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) of the Banking Regulation Act, 1949. This action is based on deficiencies in regulatory compliance and is not
The Reserve Bank of India (RBI) has imposed, on March 01, 2018, a monetary penalty of ₹ one million on Equitas Small Finance Bank Limited (the bank) for non-compliance with one of the licensing conditions stipulated 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) of the Banking Regulation Act, 1949. This action is based on deficiencies in regulatory compliance and is not
ಮಾರ್ಚ್ 07, 2018
Reserve Bank of India imposes monetary penalty on State Bank of India
The Reserve Bank of India (RBI) has imposed, on March 01, 2018, a monetary penalty of ₹ 4 million on State Bank of India (the bank) for non-compliance with the directions issued by RBI on Detection and Impounding of Counterfeit Notes. 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) of the Banking Regulation Act, 1949. This action is based on deficiencies in regulatory compliance
The Reserve Bank of India (RBI) has imposed, on March 01, 2018, a monetary penalty of ₹ 4 million on State Bank of India (the bank) for non-compliance with the directions issued by RBI on Detection and Impounding of Counterfeit Notes. 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) of the Banking Regulation Act, 1949. This action is based on deficiencies in regulatory compliance
ಮಾರ್ಚ್ 07, 2018
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 Alwar Urban Co-operative Bank Ltd., Alwar (Rajasthan)
It is hereby notified for the information of the public that in exercise of powers vested in it under sub-section (1) of section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) is satisfied that in public interest it is necessary to extend the period of operation of Directions issued to Alwar Urban Co-operative Bank Ltd., Alwar (Rajasthan) vide its directive dated March 01, 2017, effective from March 8, 2017 which were ex
It is hereby notified for the information of the public that in exercise of powers vested in it under sub-section (1) of section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) is satisfied that in public interest it is necessary to extend the period of operation of Directions issued to Alwar Urban Co-operative Bank Ltd., Alwar (Rajasthan) vide its directive dated March 01, 2017, effective from March 8, 2017 which were ex
ಮಾರ್ಚ್ 06, 2018
RBI extends validity of the Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh
The Reserve Bank of India (RBI) has extended the Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh for a further period of four months from March 07, 2018 to July 06, 2018, subject to review. The bank has been under directions since July 07, 2015 vide directive dated June 30, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive has been modified / its validity extended vide RBI dir
The Reserve Bank of India (RBI) has extended the Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh for a further period of four months from March 07, 2018 to July 06, 2018, subject to review. The bank has been under directions since July 07, 2015 vide directive dated June 30, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive has been modified / its validity extended vide RBI dir
ಮಾರ್ಚ್ 05, 2018
RBI imposes Monetary Penalty on Axis Bank Limited
The Reserve Bank of India (RBI) has imposed, on February 27, 2018, a monetary penalty of ₹ 30 million on Axis Bank Limited (the bank) for non-compliance with the directions issued by RBI on Income Recognition and Asset Classification (IRAC) norms. 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) of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to
The Reserve Bank of India (RBI) has imposed, on February 27, 2018, a monetary penalty of ₹ 30 million on Axis Bank Limited (the bank) for non-compliance with the directions issued by RBI on Income Recognition and Asset Classification (IRAC) norms. 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) of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to
ಮಾರ್ಚ್ 05, 2018
RBI imposes Monetary Penalty on Indian Overseas Bank
The Reserve Bank of India (RBI) has imposed, on February 27, 2018, a monetary penalty of ₹ 20 million on Indian Overseas Bank (the bank) for non-compliance with the directions issued by RBI on Know Your Customer (KYC) norms. 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) of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to the aforesaid directio
The Reserve Bank of India (RBI) has imposed, on February 27, 2018, a monetary penalty of ₹ 20 million on Indian Overseas Bank (the bank) for non-compliance with the directions issued by RBI on Know Your Customer (KYC) norms. 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) of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to the aforesaid directio
ಫೆಬ್ರವರಿ 28, 2018
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – The Maratha Sahakari Bank Ltd, Mumbai, Maharashtra
The Maratha Sahakari Bank Ltd, Mumbai, Maharashtra, was placed under directions from close of business on August 31, 2016 vide directive dated August 31, 2016, The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive dated August 28, 2017 and was valid upto February 28, 2018 subject to review. It is hereby notified for the information of the public that , the Reserve Bank of India, in exercise of powers vested
The Maratha Sahakari Bank Ltd, Mumbai, Maharashtra, was placed under directions from close of business on August 31, 2016 vide directive dated August 31, 2016, The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive dated August 28, 2017 and was valid upto February 28, 2018 subject to review. It is hereby notified for the information of the public that , the Reserve Bank of India, in exercise of powers vested
ಫೆಬ್ರವರಿ 27, 2018
The Kuppam Co-operative Town Bank Ltd., Kuppam, Andhra Pradesh – Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 0.50 lakh (Rupees Fifty thousand only) on The Kuppam Co-operative Town Bank Ltd., Kuppam, Andhra Pradesh, 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 of Reserve Bank of India directives and guidelines on loans and advances to directors and their relativ
The Reserve Bank of India has imposed a monetary penalty of ₹ 0.50 lakh (Rupees Fifty thousand only) on The Kuppam Co-operative Town Bank Ltd., Kuppam, Andhra Pradesh, 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 of Reserve Bank of India directives and guidelines on loans and advances to directors and their relativ
ಫೆಬ್ರವರಿ 27, 2018
RBI penalised The Ramakrishna Mutually Aided Co-operative Urban Bank Ltd., Nidadavole, Andhra Pradesh
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on The Ramakrishna Mutually Aided Co-operative Urban Bank Ltd., Nidadavole, Andhra Pradesh, 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 of Reserve Bank of India directives and guidelines on loans and advances to director
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on The Ramakrishna Mutually Aided Co-operative Urban Bank Ltd., Nidadavole, Andhra Pradesh, 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 of Reserve Bank of India directives and guidelines on loans and advances to director
ಫೆಬ್ರವರಿ 23, 2018
The Reserve Bank introduces Ombudsman Scheme for Non-Banking Financial Companies
As announced in the Monetary Policy Statement of February 7, 2018, the Reserve Bank of India (RBI) today launched the Ombudsman Scheme for Non-Banking Financial Companies (NBFC) vide Notification dated February 23, 2018 for redressal of complaints against NBFCs registered with RBI under Section 45-IA of the RBI Act, 1934. The Scheme will provide a cost-free and expeditious complaint redressal mechanism relating to deficiency in the services by NBFCs covered under the
As announced in the Monetary Policy Statement of February 7, 2018, the Reserve Bank of India (RBI) today launched the Ombudsman Scheme for Non-Banking Financial Companies (NBFC) vide Notification dated February 23, 2018 for redressal of complaints against NBFCs registered with RBI under Section 45-IA of the RBI Act, 1934. The Scheme will provide a cost-free and expeditious complaint redressal mechanism relating to deficiency in the services by NBFCs covered under the
ಫೆಬ್ರವರಿ 22, 2018
Aditya Birla Idea Payments Bank Limited commences operations
Aditya Birla Idea Payments Bank Limited has commenced operations as a payments bank with effect from February 22, 2018. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of payments bank in India. Aditya Birla Nuvo Limited, Mumbai was one of the 11 applicants which were issued in-principle approval for setting up a payments bank, as announced in the press release on August 19, 2015. Ashi
Aditya Birla Idea Payments Bank Limited has commenced operations as a payments bank with effect from February 22, 2018. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of payments bank in India. Aditya Birla Nuvo Limited, Mumbai was one of the 11 applicants which were issued in-principle approval for setting up a payments bank, as announced in the press release on August 19, 2015. Ashi
ಫೆಬ್ರವರಿ 21, 2018
Minutes of the Monetary Policy Committee Meeting February 6-7, 2018
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The ninth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the amended Reserve Bank of India Act, 1934, was held on February 6 and 7, 2018 at the Reserve Bank of India, Mumbai. 2. The meeting was attended by all the members - Dr. Chetan Ghate, Professor, Indian Statistical Institute; Dr. Pami Dua, Director, Delhi School of Economics; Dr. Ravindra H. Dholakia, Professor, Indian
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The ninth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the amended Reserve Bank of India Act, 1934, was held on February 6 and 7, 2018 at the Reserve Bank of India, Mumbai. 2. The meeting was attended by all the members - Dr. Chetan Ghate, Professor, Indian Statistical Institute; Dr. Pami Dua, Director, Delhi School of Economics; Dr. Ravindra H. Dholakia, Professor, Indian
ಫೆಬ್ರವರಿ 20, 2018
RBI penalised Bedkihal Urban Cooperative Bank Ltd., Bedkihal, Karnataka
The Reserve Bank of India has imposed a monetary penalty of ₹ 1,00,000/- (Rupees one lakh only) on Bedkihal Urban Cooperative Bank Ltd., Bedkihal, Karnataka in exercise of the powers vested in it under the provisions of Section 47 A (1) (c) read with Section 46 (4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) for violation of directives/guidelines of Reserve Bank of India on Exposure Norms. The Reserve Bank of India had issued a Show C
The Reserve Bank of India has imposed a monetary penalty of ₹ 1,00,000/- (Rupees one lakh only) on Bedkihal Urban Cooperative Bank Ltd., Bedkihal, Karnataka in exercise of the powers vested in it under the provisions of Section 47 A (1) (c) read with Section 46 (4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) for violation of directives/guidelines of Reserve Bank of India on Exposure Norms. The Reserve Bank of India had issued a Show C
ಫೆಬ್ರವರಿ 20, 2018
Cancellation of Certificate of Registration of 6 NBFCs
The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1 M/s Sujala Commercial Ltd. 60, Metcalfe Street, Kolkata – 700013 05.01818 April 13, 1998 December 19, 2017 2 M/s Alchemist Capital Limited SCO 52-53, Sector 9-D, Chandigarh – 160009
The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1 M/s Sujala Commercial Ltd. 60, Metcalfe Street, Kolkata – 700013 05.01818 April 13, 1998 December 19, 2017 2 M/s Alchemist Capital Limited SCO 52-53, Sector 9-D, Chandigarh – 160009
ಫೆಬ್ರವರಿ 20, 2018
9 NBFCs surrender their Certificate of Registration to RBI
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1 M/s R. S. Commerce Private Limited 46, B. B. Ganguly Street, 4th Floor, Room No. 4
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1 M/s R. S. Commerce Private Limited 46, B. B. Ganguly Street, 4th Floor, Room No. 4
ಫೆಬ್ರವರಿ 16, 2018
RBI’s statement on fraud in Punjab National Bank
There have been reports in the media that in the wake of fraud involving a sum of USD 1.77 billion that has surfaced in Punjab National Bank (PNB), the Reserve Bank of India (RBI) has directed PNB to meet its commitments under the Letter of Undertaking (LOU) to other banks. RBI denies having given any such instructions. The fraud in PNB is a case of operational risk arising on account of delinquent behaviour by one or more employees of the bank and failure of internal
There have been reports in the media that in the wake of fraud involving a sum of USD 1.77 billion that has surfaced in Punjab National Bank (PNB), the Reserve Bank of India (RBI) has directed PNB to meet its commitments under the Letter of Undertaking (LOU) to other banks. RBI denies having given any such instructions. The fraud in PNB is a case of operational risk arising on account of delinquent behaviour by one or more employees of the bank and failure of internal
ಫೆಬ್ರವರಿ 14, 2018
Cancellation of licence to carry on banking business in India and Voluntary Conversion of Urban Co-operative Bank into a Co-operative Society under Sections 22 and 36A(2) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) – Sher Nagrik Sahakari Bank Ltd., Jabalpur (Madhya Pradesh)
Sher Nagrik Sahakari Bank Ltd., Jabalpur (Madhya Pradesh) submitted a proposal to Reserve Bank of India for voluntary conversion of the bank to a co-operative credit society and to declare it as a non-banking institution. The bank has complied with the requirements as stipulated in section 36A(2) of Banking Regulation Act, 1949 (AACS) (the Act) for going out of purview of the Act. It is hereby notified for information of the public that the Reserve Bank of India has c
Sher Nagrik Sahakari Bank Ltd., Jabalpur (Madhya Pradesh) submitted a proposal to Reserve Bank of India for voluntary conversion of the bank to a co-operative credit society and to declare it as a non-banking institution. The bank has complied with the requirements as stipulated in section 36A(2) of Banking Regulation Act, 1949 (AACS) (the Act) for going out of purview of the Act. It is hereby notified for information of the public that the Reserve Bank of India has c
ಫೆಬ್ರವರಿ 08, 2018
Report of the Inter-Regulatory Working Group on FinTech and Digital Banking
The Reserve Bank of India today placed on its website the report of the Inter-Regulatory Working Group on FinTech and Digital Banking in India. Background The Reserve Bank of India (RBI) had set up an inter-regulatory Working Group (Chair: Shri Sudarshan Sen, Executive Director, RBI) to study the entire gamut of regulatory issues relating to FinTech and Digital Banking in India. The Committee had representation from all the financial sector regulators, namely, Reserve
The Reserve Bank of India today placed on its website the report of the Inter-Regulatory Working Group on FinTech and Digital Banking in India. Background The Reserve Bank of India (RBI) had set up an inter-regulatory Working Group (Chair: Shri Sudarshan Sen, Executive Director, RBI) to study the entire gamut of regulatory issues relating to FinTech and Digital Banking in India. The Committee had representation from all the financial sector regulators, namely, Reserve
ಫೆಬ್ರವರಿ 08, 2018
RBI Cautions about Fake Websites in its Name
It has come to the notice of the Reserve Bank of India that a fake website of the Reserve Bank of India has been created with the URL www.indiareserveban.org by some unknown person(s). The layout of the fake website is similar to the original RBI website. The home page of the fake website also contains a provision for “Bank verification with online account holders” which appears to have been created with a fraudulent intent of obtaining personal and confidential banki
It has come to the notice of the Reserve Bank of India that a fake website of the Reserve Bank of India has been created with the URL www.indiareserveban.org by some unknown person(s). The layout of the fake website is similar to the original RBI website. The home page of the fake website also contains a provision for “Bank verification with online account holders” which appears to have been created with a fraudulent intent of obtaining personal and confidential banki
ಫೆಬ್ರವರಿ 07, 2018
Sixth Bi-monthly Monetary Policy Statement, 2017-18 Resolution of the Monetary Policy Committee (MPC) Reserve Bank of India
On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent. Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent. The decision of the MPC is consistent with the neutral stance o
On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 per cent. Consequently, the reverse repo rate under the LAF remains at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent. The decision of the MPC is consistent with the neutral stance o
ಫೆಬ್ರವರಿ 07, 2018
Statement on Developmental and Regulatory Policies – February 2018
Relief for MSME Borrowers who have registered under Goods and Services Tax 1. The formalisation of business through registration under Goods and Services Tax (GST) adversely impacted cash flows of the smaller entities during the transition phase with consequent difficulties in meeting their repayment obligations to banks and non-banking financial companies (NBFCs). As a measure to support their transition to a formalised business environment, it has been decided that
Relief for MSME Borrowers who have registered under Goods and Services Tax 1. The formalisation of business through registration under Goods and Services Tax (GST) adversely impacted cash flows of the smaller entities during the transition phase with consequent difficulties in meeting their repayment obligations to banks and non-banking financial companies (NBFCs). As a measure to support their transition to a formalised business environment, it has been decided that
ಫೆಬ್ರವರಿ 01, 2018
The Sircilla Co-operative Urban Bank Ltd., Sircilla, Telangana – Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 0.50 lakh (Rupees Fifty thousand only) on The Sircilla Co-operative Urban Bank Ltd., Sircilla, Telangana, 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 of Reserve Bank of India directives and guidelines on Exposure Norms and Statutory/Other Restrictions a
The Reserve Bank of India has imposed a monetary penalty of ₹ 0.50 lakh (Rupees Fifty thousand only) on The Sircilla Co-operative Urban Bank Ltd., Sircilla, Telangana, 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 of Reserve Bank of India directives and guidelines on Exposure Norms and Statutory/Other Restrictions a
ಫೆಬ್ರವರಿ 01, 2018
Government of India nominates Dr. Prasanna Kumar Mohanty and Shri Dilip S. Shanghvi to Central Board of Reserve Bank of India
In exercise of the powers conferred by clause (b) of the sub-section (1) of Section 8 of the Reserve Bank of India Act, 1934, the Central Government has nominated Dr. Prasanna Kumar Mohanty and Shri Dilip S. Shanghvi as Directors to the Central Board of the Reserve Bank of India for a period upto February 08, 2021 and March 10, 2021 respectively or until further orders, whichever is earlier. Jose J. Kattoor Chief General Manager Press Release: 2017-2018/2096
In exercise of the powers conferred by clause (b) of the sub-section (1) of Section 8 of the Reserve Bank of India Act, 1934, the Central Government has nominated Dr. Prasanna Kumar Mohanty and Shri Dilip S. Shanghvi as Directors to the Central Board of the Reserve Bank of India for a period upto February 08, 2021 and March 10, 2021 respectively or until further orders, whichever is earlier. Jose J. Kattoor Chief General Manager Press Release: 2017-2018/2096
ಜನವರಿ 25, 2018
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – The R. S. Co-operative Bank Ltd., Mumbai, Maharashtra
The R.S. Co-operative Bank Ltd., Mumbai, Maharashtra, was placed under directions vide directive dated June 24, 2015, from close of business on June 26, 2015. The validity of the directions was extended and modified from time to time, the last being Directive dated September 20, 2017 and was valid upto January 25, 2018, subject to review. It is hereby notified for the information of the public that the Reserve Bank of India, in exercise of powers vested in it under su
The R.S. Co-operative Bank Ltd., Mumbai, Maharashtra, was placed under directions vide directive dated June 24, 2015, from close of business on June 26, 2015. The validity of the directions was extended and modified from time to time, the last being Directive dated September 20, 2017 and was valid upto January 25, 2018, subject to review. It is hereby notified for the information of the public that the Reserve Bank of India, in exercise of powers vested in it under su
ಜನವರಿ 25, 2018
Marginal Cost of Funds Based Lending Rate (MCLR) for the month December 2017
The Reserve Bank of India has today released Lending Rates of Scheduled Commercial Banks based on data received during the month of December 2017. Anirudha D. Jadhav Assistant Manager Press Release: 2017-2018/2035
The Reserve Bank of India has today released Lending Rates of Scheduled Commercial Banks based on data received during the month of December 2017. Anirudha D. Jadhav Assistant Manager Press Release: 2017-2018/2035
ಜನವರಿ 24, 2018
RBI Directions issued to Navodaya Urban Co-operative Bank Ltd, Nagpur, Maharashtra further extended upto July 15, 2018
The Reserve Bank of India has extended the Directions earlier issued to Navodaya Urban Co-operative Bank Ltd, Nagpur for further six months. The Directions are now valid up to July 15, 2018, subject to review. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). A copy of the Directions is displayed on the bank's premises for perusal by interested members of public
The Reserve Bank of India has extended the Directions earlier issued to Navodaya Urban Co-operative Bank Ltd, Nagpur for further six months. The Directions are now valid up to July 15, 2018, subject to review. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). A copy of the Directions is displayed on the bank's premises for perusal by interested members of public
ಜನವರಿ 23, 2018
Cancellation of Banking Licence – The Bhopal Nagrik Sahakari Bank Ltd., Bhopal
The Reserve Bank of India (RBI) has, vide order dated January 17, 2018 cancelled the licence of The Bhopal Nagrik Sahakari Bank Ltd, Bhopal, Madhya Pradesh to carry on banking business, with effect from the close of business on January 22, 2018. The Registrar of Co-operative Societies, Madhya Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the bank as: The bank d
The Reserve Bank of India (RBI) has, vide order dated January 17, 2018 cancelled the licence of The Bhopal Nagrik Sahakari Bank Ltd, Bhopal, Madhya Pradesh to carry on banking business, with effect from the close of business on January 22, 2018. The Registrar of Co-operative Societies, Madhya Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the bank as: The bank d
ಜನವರಿ 22, 2018
RBI imposes Monetary Penalty on M/s Ramky Finance and Investment (P) Limited
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹ 1 lakh on M/s Ramky Finance and Investment (P) Limited (the company) under clause (b) of sub-section (1) of section 58G, read with clause (aa) of sub-section (5) of section 58B of the Reserve Bank of India Act, 1934 (the RBI Act, 1934) for the failure to comply with the directions/orders issued by RBI from time to time. Background M/s Ramky Finance and Investment (P) Limited has changed its name to M/
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹ 1 lakh on M/s Ramky Finance and Investment (P) Limited (the company) under clause (b) of sub-section (1) of section 58G, read with clause (aa) of sub-section (5) of section 58B of the Reserve Bank of India Act, 1934 (the RBI Act, 1934) for the failure to comply with the directions/orders issued by RBI from time to time. Background M/s Ramky Finance and Investment (P) Limited has changed its name to M/
ಜನವರಿ 20, 2018
RBI clarifies that official apprehended by CISF not an RBI employee
It has been reported in a section of the media that an RBI officer has been apprehended by CISF, stealing printed currency at the RBI printing facility at Dewas. It is clarified that the Bank Note Press (BNP), Dewas is a unit of Security Printing & Minting Corporation of India Ltd. which is not under the control of the Reserve Bank of India. Further, RBI does not have any official placed with BNP, Dewas. The reports, thus, are not based on facts. RBI regrets to no
It has been reported in a section of the media that an RBI officer has been apprehended by CISF, stealing printed currency at the RBI printing facility at Dewas. It is clarified that the Bank Note Press (BNP), Dewas is a unit of Security Printing & Minting Corporation of India Ltd. which is not under the control of the Reserve Bank of India. Further, RBI does not have any official placed with BNP, Dewas. The reports, thus, are not based on facts. RBI regrets to no
ಜನವರಿ 17, 2018
RBI reiterates legal tender status of ₹ 10 coins of different designs
It has come to the notice of the Reserve Bank that in certain places there is reluctance on part of traders and members of public to accept ₹ 10 coins due to suspicion about their genuineness. It is clarified that the Reserve Bank puts into circulation, the coins minted by mints, which are under the Government of India. These coins have distinctive features to reflect various themes of economic, social and cultural values and are introduced from time to time. As coins
It has come to the notice of the Reserve Bank that in certain places there is reluctance on part of traders and members of public to accept ₹ 10 coins due to suspicion about their genuineness. It is clarified that the Reserve Bank puts into circulation, the coins minted by mints, which are under the Government of India. These coins have distinctive features to reflect various themes of economic, social and cultural values and are introduced from time to time. As coins
ಜನವರಿ 16, 2018
Withdrawal of Directions - The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal
Reserve Bank had issued Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal vide Directive dated March 28, 2014. Directions imposed were extended and modified from time to time, last being up to January 06, 2018 vide Directive dated June 29, 2017. Reserve Bank, on being satisfied that in the public interest it is necessary to do so, in exercise of the powers vested
Reserve Bank had issued Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal vide Directive dated March 28, 2014. Directions imposed were extended and modified from time to time, last being up to January 06, 2018 vide Directive dated June 29, 2017. Reserve Bank, on being satisfied that in the public interest it is necessary to do so, in exercise of the powers vested
ಜನವರಿ 10, 2018
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – Gomati Nagariya Sahakari Bank Ltd., Jaunpur (Uttar Pradesh)
The Reserve Bank of India has notified that in partial modification of its directive it has, vide directive dated July 03, 2017, relaxed the directions imposed on Gomati Nagariya Sahakari Bank Ltd., Jaunpur (Uttar Pradesh). Now, a sum not exceeding ₹ 30,000/- (Rupees Thirty Thousand only) may be allowed to be withdrawn by a depositor, subject to the conditions specified in the modified directive. All other provisions of the earlier directive dated July 03, 2017 shall
The Reserve Bank of India has notified that in partial modification of its directive it has, vide directive dated July 03, 2017, relaxed the directions imposed on Gomati Nagariya Sahakari Bank Ltd., Jaunpur (Uttar Pradesh). Now, a sum not exceeding ₹ 30,000/- (Rupees Thirty Thousand only) may be allowed to be withdrawn by a depositor, subject to the conditions specified in the modified directive. All other provisions of the earlier directive dated July 03, 2017 shall
ಜನವರಿ 10, 2018
Press Release
RBI has come across reports in a section of media attributing a study on security aspects of Aadhaar by one Shri S. Ananth, an adjunct faculty of Institute for Development and Research in Banking Technology (IDRBT), to RBI researchers. It is clarified that neither the RBI nor its researchers were in any way connected with the study. Further, views expressed by the author are not those of the RBI. Jose J. Kattoor Chief General Manager Press Release: 2017-2018/1900
RBI has come across reports in a section of media attributing a study on security aspects of Aadhaar by one Shri S. Ananth, an adjunct faculty of Institute for Development and Research in Banking Technology (IDRBT), to RBI researchers. It is clarified that neither the RBI nor its researchers were in any way connected with the study. Further, views expressed by the author are not those of the RBI. Jose J. Kattoor Chief General Manager Press Release: 2017-2018/1900
ಜನವರಿ 08, 2018
RBI extends Directions to The Vaish Co-operative Commercial Bank Ltd., New Delhi
The Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), hereby directs that the Directive dated August 28, 2015 issued to The Vaish Co-operative Commercial Bank Ltd., New Delhi , as modified from time to time, the validity of which was extended upto January 8, 2018, shall continue to apply to the bank for a further period of si
The Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), hereby directs that the Directive dated August 28, 2015 issued to The Vaish Co-operative Commercial Bank Ltd., New Delhi , as modified from time to time, the validity of which was extended upto January 8, 2018, shall continue to apply to the bank for a further period of si
ಜನವರಿ 05, 2018
RBI Introduces ₹ 10 banknote in Mahatma Gandhi (New) Series
The Reserve Bank of India will shortly issue ₹ 10 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has motif of Sun Temple, Konark on the reverse, depicting the country's cultural heritage. The base colour of the note is Chocolate Brown. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse. All the
The Reserve Bank of India will shortly issue ₹ 10 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has motif of Sun Temple, Konark on the reverse, depicting the country's cultural heritage. The base colour of the note is Chocolate Brown. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse. All the
ಜನವರಿ 04, 2018
Amanath Co-operative Bank Ltd., Bengaluru- Extension of All Inclusive Directions under Section 35A of the Banking Regulation Act, 1949(AACS)
It is hereby notified for information of public that the Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the directive dated April 1, 2013 read with subsequent directives, last being dated June 29, 2017 issued to the Amanath Cooperative Bank Ltd, Bengaluru for a further period of six months. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub section (1) of Section 35
It is hereby notified for information of public that the Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the directive dated April 1, 2013 read with subsequent directives, last being dated June 29, 2017 issued to the Amanath Cooperative Bank Ltd, Bengaluru for a further period of six months. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub section (1) of Section 35
ಜನವರಿ 04, 2018
RBI cancels Certificate of Registration of 3 NBFCs
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following three non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Name of the Company Registered Office Address CoR No. Issued On Cancellation Order Date 1 M/s Alchemist Holdings Limited (Formerly known as M/s Mahindra Finlease Private Limited) 405, Jyoti Shikhar Tower, Janakpuri Di
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following three non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Name of the Company Registered Office Address CoR No. Issued On Cancellation Order Date 1 M/s Alchemist Holdings Limited (Formerly known as M/s Mahindra Finlease Private Limited) 405, Jyoti Shikhar Tower, Janakpuri Di
ಪೇಜ್ ಕೊನೆಯದಾಗಿ ಅಪ್ಡೇಟ್ ಆದ ದಿನಾಂಕ: ಜುಲೈ 28, 2025