The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh only) on Janata Urban Co-operative Bank Ltd., Wai, District Satara 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 the instructions / guidelines of the Reserve Bank of India. During the financial year 2013-14 the bank’s credit exp

The Reserve Bank of India has today placed on its website for public feedback the draft circular on rationalisation of Merchant Discount Rate (MDR) for debit card transactions. The comments/ suggestions/ feedback, if any, may be sent by post to the Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office Building, 14th Floor, Shahid Bhagat Singh Road, Mumbai - 400 001, or by email on or before February 28, 2017. Recent

The Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date. It has also stated that assessees can use alternate channels like select branches of agency banks or the facility of online payment of taxes offered by these banks. These will obviate the inconvenience involved in standing in long queues at the Reserve Bank offices. It is observed that the rush for remitting Income –Tax dues through th

It is hereby notified for information of the public that the Reserve Bank of India has cancelled the licence of The Sojitra Co-operative Bank Ltd., Dist. Anand (Gujarat) vide order dated January 23, 2017. In view of the unsatisfactory financials and compliance record, the bank was advised to go out of purview of the Banking Regulation Act, 1949 (AACS) and convert into a Co-operative Society. The bank has fulfilled all the conditions stipulated in Section 36(A)(2) of t

The Reserve Bank of India signed a Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with Bank of Zambia. The MoU was signed by Dr Denny H Kalyalya, Governor on behalf of Bank of Zambia and Dr Urjit R. Patel, Governor on behalf of Reserve Bank of India. The Reserve Bank has entered into Memorandam of Understanding, Letter for Supervisory Co-operation and Statement of Co-operation with supervisors of a few countries

Shri Arun Jaitley, Hon’ble Union Minister of Finance addressed the customary post-Budget meeting of the Central Board of the Reserve Bank of India in New Delhi today. The Hon’ble Finance Minister in his address emphasised the focus of the Budget on the rural sector, housing and infrastructure while continuing on the path of fiscal discipline, besides introduction of the Goods and Services Tax(GST) and reduction of taxes for the Small and Medium Enterprise (SME) sector

The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Catholic Co-operative Urban Bank Ltd., Hyderabad, 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 loans and advances to directors and their relatives. T

Lokseva Sahakari Bank Ltd., Pune, Maharashtra, was placed under directions vide directive dated May 19, 2014 from the close of business on May 20, 2014. The validity of the directions were extended from time to time vide subsequent directives last being vide order dated November 11, 2016 and is valid upto May 19, 2017 subject to review. The public is hereby advised that the Directive so issued to Lokseva Sahakari Bank Ltd., Pune on May 19, 2014 as modified from time t

The Reserve Bank of India (RBI) has cancelled the licence of Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, Pune, Maharashtra. The order was made effective from the close of business on February 07, 2017.The Registrar of Co-operative Societies, Maharashtra, has also been requested to issue an order for winding up of the bank and appoint a liquidator. The Reserve Bank cancelled the licence of the bank as: The bank did not comply with the provisions under

This Statement sets out developmental and regulatory policy measures to be taken for further strengthening the banking structure and enhancing the efficacy of the payment and settlement systems. 2. Regulation, surveillance and enforcement are three important facets of financial sector oversight mechanism. Regulations determine the framework in which financial entities function so that prudence, transparency, and comparability are ensured on the one hand and customer i

It is hereby notified for information of the public that the Reserve Bank of India has cancelled the licence of The State Transport Employees Co-operative Bank Ltd., Ahmedabad (Gujarat) vide order dated January 13, 2017. Accordingly, the bank has ceased to be a “Co-operative bank” as defined in Section 5 (cci) of the Banking Regulation Act, 1949 read with Section 56 of the Act and all the provisions of the said Act applicable to the said co-operative bank shall cease

The Government of India, in consultation with the Reserve Bank of India, had notified Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 vide notification no. S.O. 4061 (E) dated December 16, 2016. The deposit under this Scheme shall be made by any person who declared undisclosed income under Pradhan Mantri Garib Kalyan Yojana, 2016. The deposit sum, which shall not be less than twenty-five per cent of the declared undisclosed income, can be deposited at the au

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 from time to time vide subsequent directives the last being order dated September 22, 2016 and is currently valid upto March 25, 2017, subject to review. The public is hereby advised that the Directives so issued to R S Co-operative Bank Ltd., Mumbai, Maharashtra on June

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following non-banking financial companies (NBFCs). The Reserve Bank, 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 The Instalment Supply Limited 46, Janpath, New Delhi – 110001 14.01416 December 10, 1998 June 22, 2016 2 M/s S

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 Kalyani Mfg & Leasing Limited 14-B, Atmaram House, 1, Tolstoy Marg, New Del

ಫೆಬ್ರವರಿ 03, 2017 “R” ಒಳಾಕ್ಷರವಿರುವ ರೂ ₹ 100 ರ ಬ್ಯಾಂಕು ನೋಟುಗಳ ಬಿಡುಗಡೆ. ಭಾರತೀಯ ರಿಸರ್ವ್ ಬ್ಯಾಂಕಿನ ಗವರ್ನರ್ ಡಾ. ಉರ್ಜಿತ್ ಆರ್ ಪಟೇಲ್ ಅವರ ಸಹಿಯುಳ್ಳ, ಬ್ಯಾಂಕು ನೋಟಿನ ಹಿಂದೆ ಮುದ್ರಣ ವರ್ಷ 2017 ಮುದ್ರಿಸಿರುವ, ಎರಡೂ ಸಂಖ್ಯಾಂಕಣಗಳಲ್ಲಿ “R” ಒಳಾಕ್ಷರವಿರುವ ಮಹಾತ್ಮಾ ಗಾಂಧಿ ಶ್ರೇಣಿ -2005 ರ, ₹ 100 ರ ಬ್ಯಾಂಕು ನೋಟುಗಳನ್ನು ಶ್ರೀಘ್ರದಲ್ಲಿಯೇ ಭಾರತೀಯ ರಿಸರ್ವ್ ಬ್ಯಾಂಕ್ ಬಿಡುಗಡೆ ಮಾಡಲಿದೆ. ಈಗ ನೀಡಲಿರುವ ನೋಟುಗಳ ವಿನ್ಯಾಸವು ಈ ಹಿಂದೆ ನೀಡಲಾದ ಮಹಾತ್ಮಾ ಗಾಂಧಿ ಶ್ರೇಣಿ -2005 ರ ಎರಡು ಬದಿಯ ಸಂಖ್ಯಾಂಕಣಗಳಲ್ಲಿ ಸಂಖ್ಯೆಗಳ ಗಾತ್ರ ಆರೋಹಣ ಮಾದರಿಯಲ್ಲಿರುವ