The Reserve Bank of India has imposed a monetary penalty of ₹ 1,00,000/- (Rupees one lakh only) on Northern Railway Multi-state Primary Co-operative Bank Ltd., Lucknow 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 violation of RBI Instructions/Guidelines for opening on-site ATM without obtaining prior approval from RBI. The Reserve

The Reserve Bank of India (RBI) has imposed, on June 19, 2018, a monetary penalty of ₹ 60 million on Tamilnad Mercantile Bank Limited (the bank) for contravention of Master Directions on Issue and Pricing of Shares dated April 21, 2016 (the Directions) 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) of the Banking Regulation Act, 1949 taking into account the failu

The Reserve Bank of India today released draft guidelines on constituting Board of Management (BoM) for Primary (Urban) Cooperative Banks (UCBs). The guidelines propose that UCBs may constitute a BoM, in addition to the Board of Directors (BoD). It may be recalled that the Expert Committee on licensing of new Urban Cooperative Banks (2010) set up under the chairmanship of Shri Y.H. Malegam had recommended, inter alia, that a BoM be constituted in every UCB, in additio

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following five 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. Company's Name Address of Registered Office Certificate of Registration No. Issued On Date of cancellation 1 M/s Key Dealers Private Limited 35, G.C. Avenue Road, 3rd Floor, Kolkata-700 013 B.05.03516 October 01, 2001

The Reserve Bank of India has imposed a monetary penalty of ₹ 50,000/- (Rupees fifty thousand only) on City Co-operative Bank Ltd., Hassan, 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 violating the Supervisory Action Framework (SAF) instructions issued under Section 36(1) of the Banking Regulation Act, 1949 (AACS). The Rese

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 Lords Steel Industries Limited 10A, Middleton Row, 2nd Floor, Kolkata-700071 1

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following five 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. Company's Name Address of Registered Office Certificate of Registration No. Issued On Date of cancellation 1. M/s Cygnus Publishers Limited 21A, Shakespeare Sarani, Kolkata-700017 B.05.05850 September 12, 2011 March 28

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹ 5 lakh on M/s Kosamattam Finance Ltd. (the company) under section 58G(1)(b) read with sub-section 5(aa) of section 58B of the RBI Act, 1934 for violation of directions/orders issued by Reserve Bank of India from time to time. Background An inspection of the books and accounts of the company was conducted under section 45N of Reserve Bank of India Act, 1934 (the RBI Act, 1934) during August, 2016. It w

[Under Section 45ZL of the Reserve Bank of India Act, 1934] The eighth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the amended Reserve Bank of India Act, 1934, was held on December 5 and 6, 2017 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, India

जून 12, 2018 ‘आरबीआयची वेबसाईट सोडून अन्य स्त्रोतांमधून मिळालेल्या नोकर भरती संबंधित संदेशां’ बाबत नोकरी-इच्छुक व्यक्तींना आरबीआयचा सावधानतेचा इशारा ह्या बँकेच्या नजरेस आले आहे की, काही तत्वशून्य व्यक्ती, स्वतः आरबीआयमधील अधिकारी असल्याचे भासवून, आरबीआयमध्ये नेमणुक होण्यासाठीचा एक नोकर भरतीचा भाग म्हणून, खोट्या लेटरहेड्सवर आणि खोट्या ई-मेल अॅड्रेसेस मधून, नोकरी इच्छुक व्यक्तींना, परीक्षा/इंटरव्ह्यु/इंटरॅक्टिव सेशन्सना हजर राहण्याबाबत संदेश पाठवीत आहेत. आरबीआय येथे स्