ਪ੍ਰੈਸ ਰਿਲੀਜ਼ - ਆਰਬੀਆਈ - Reserve Bank of India
ਪ੍ਰੈਸ ਰਿਲੀਜ਼
ਨਵੰ 16, 2015
RBI to issue ₹ 500 banknotes with inset letter "L"
The Reserve Bank of India will shortly issue ₹500 denomination Banknotes in the Mahatma Gandhi Series - 2005 with inset letter 'L' in both the numbering panels. The notes will bear the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, and the year of printing '2015' printed on the reverse of the Banknote. The design of these notes to be issued now is similar in all respects to the ₹500 Banknotes in Mahatma Gandhi Series - 2005 issued earlier, includ
The Reserve Bank of India will shortly issue ₹500 denomination Banknotes in the Mahatma Gandhi Series - 2005 with inset letter 'L' in both the numbering panels. The notes will bear the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, and the year of printing '2015' printed on the reverse of the Banknote. The design of these notes to be issued now is similar in all respects to the ₹500 Banknotes in Mahatma Gandhi Series - 2005 issued earlier, includ
ਨਵੰ 13, 2015
Pay IT dues in advance at RBI or at authorised bank branches
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
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
ਨਵੰ 13, 2015
RBI extends last date for receipt of applications for authorising Bharat Bill Payment System Operating Units (BBPOUs)
The Reserve Bank of India has extended the last date for receiving applications for authorising Bharat Bill Payment System Operating Units (BBPOUs), to December 18, 2015 from the earlier November 20, 2015. This has been done keeping in view the difficulties expressed by various entities in meeting the deadline. Applications will now be accepted till the close of business as on December 18, 2015. It may, however, be noted that the applications received till close of bu
The Reserve Bank of India has extended the last date for receiving applications for authorising Bharat Bill Payment System Operating Units (BBPOUs), to December 18, 2015 from the earlier November 20, 2015. This has been done keeping in view the difficulties expressed by various entities in meeting the deadline. Applications will now be accepted till the close of business as on December 18, 2015. It may, however, be noted that the applications received till close of bu
ਨਵੰ 05, 2015
RBI extends Directions issued to Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra till February 03, 2016
The Reserve Bank of India has extended Directions issued to Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad for a further period of three months from November 04, 2015 to February 03, 2016, subject to review. The bank was under directions since May 2012. The Directions were earlier extended on six occasions for a period of six months each. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section (1) of Section 35A
The Reserve Bank of India has extended Directions issued to Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad for a further period of three months from November 04, 2015 to February 03, 2016, subject to review. The bank was under directions since May 2012. The Directions were earlier extended on six occasions for a period of six months each. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section (1) of Section 35A
ਨਵੰ 05, 2015
RBI imposes Monetary Penalty on The Vardhman Co-operative Bank Ltd., Dist. Jamnagar (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh) on The Vardhman Co-operative Bank Ltd., Dist. Jamnagar (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 of RBI guidelines and instructions relating to (i) Know Your Customer (KYC) guidelines, (ii) by not putting in place
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh) on The Vardhman Co-operative Bank Ltd., Dist. Jamnagar (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 of RBI guidelines and instructions relating to (i) Know Your Customer (KYC) guidelines, (ii) by not putting in place
ਨਵੰ 05, 2015
RBI imposes Monetary Penalty on Dhanlaxmi Bank Ltd
The Reserve Bank of India has imposed a monetary penalty of ₹ 10 million on Dhanlaxmi Bank Ltd. for violation of its instructions, among other things, on Know Your Customer (KYC) norms and Anti Money Laundering (AML) standards. The penalty has been imposed in exercise of powers vested in the Reserve Bank under the provisions of Section 47(A) (1) (c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account the violations of the instructions/
The Reserve Bank of India has imposed a monetary penalty of ₹ 10 million on Dhanlaxmi Bank Ltd. for violation of its instructions, among other things, on Know Your Customer (KYC) norms and Anti Money Laundering (AML) standards. The penalty has been imposed in exercise of powers vested in the Reserve Bank under the provisions of Section 47(A) (1) (c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account the violations of the instructions/
ਨਵੰ 03, 2015
Minimum Deposit to be 30 grams of Raw Gold in Gold Monetisation Scheme
The Reserve Bank of India has modified the minimum amount of gold that can be deposited under the Gold Monetisation Scheme under the Reserve Bank of India (Gold Monetisation Scheme), Direction, 2015. The modification provides that the minimum deposit at any one time shall be 30 grams of raw gold (bars, coins, jewellery excluding stones and other metals). It was represented that in view of the fact it would not be possible for the general public to determine, ex ante,
The Reserve Bank of India has modified the minimum amount of gold that can be deposited under the Gold Monetisation Scheme under the Reserve Bank of India (Gold Monetisation Scheme), Direction, 2015. The modification provides that the minimum deposit at any one time shall be 30 grams of raw gold (bars, coins, jewellery excluding stones and other metals). It was represented that in view of the fact it would not be possible for the general public to determine, ex ante,
ਨਵੰ 03, 2015
RBI imposes Monetary Penalty on The Madanapalle Co-operative Town Bank Ltd. Madanapalle, Chittor District, Andhra Pradesh
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Madanapalle Co-operative Town Bank Ltd., Madanapalle, Chittoor District, 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 Section 20 and Section 20 A of the Banking Regulation Act, 1949 (As Applicabl
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Madanapalle Co-operative Town Bank Ltd., Madanapalle, Chittoor District, 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 Section 20 and Section 20 A of the Banking Regulation Act, 1949 (As Applicabl
ਨਵੰ 03, 2015
RBI imposes Monetary Penalty on Chaitanya Co-operative Urban Bank Ltd., Hyderabad, Telangana
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on Chaitanya 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 guidelines/directives of Reserve Bank of India on loans and advances to directors and their relatives. The R
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on Chaitanya 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 guidelines/directives of Reserve Bank of India on loans and advances to directors and their relatives. The R
ਨਵੰ 03, 2015
RBI imposes Monetary Penalty on The Mehsana District Central Cooperative Bank Ltd., Mehsana (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on The Mehsana District Central Cooperative Bank Ltd., Mehsana (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 of the provisions of Section 22(3)(b) of the B.R.Act, 1949 (AACS) relating to “the affairs of the co-oper
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on The Mehsana District Central Cooperative Bank Ltd., Mehsana (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 of the provisions of Section 22(3)(b) of the B.R.Act, 1949 (AACS) relating to “the affairs of the co-oper
ਨਵੰ 02, 2015
RBI extends Direction on The C.K.P. Co-operative Bank Ltd., Mumbai, Maharashtra
The Reserve Bank of India, on October 28, 2015, extended the period of operation of its directive on The C.K.P. Cooperative Bank Ltd., for a further period of three months from the close of business on October 31, 2015. The direction is subject to review. The other terms and conditions of the directive remain unchanged. A copy of the directive dated October 28, 2015 notifying the modification is displayed on the bank’s premises for perusal of public. The modification
The Reserve Bank of India, on October 28, 2015, extended the period of operation of its directive on The C.K.P. Cooperative Bank Ltd., for a further period of three months from the close of business on October 31, 2015. The direction is subject to review. The other terms and conditions of the directive remain unchanged. A copy of the directive dated October 28, 2015 notifying the modification is displayed on the bank’s premises for perusal of public. The modification
ਅਕਤੂ 30, 2015
RBI imposes Monetary Penalty on Balasinor Nagarik Sahakari Bank Ltd., Balasinor, Dist. Mahisagar
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh) on Balasinor Nagarik Sahakari Bank Ltd., Balasinor, Dist. Mahisagar (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 violations pertaining to (i) non-compliance with operational instructions imposed by RBI u/s 36 (1) of the B R Act
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh) on Balasinor Nagarik Sahakari Bank Ltd., Balasinor, Dist. Mahisagar (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 violations pertaining to (i) non-compliance with operational instructions imposed by RBI u/s 36 (1) of the B R Act
ਅਕਤੂ 30, 2015
RBI extends Directions on the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.)
The Reserve Bank of India has issued certain Directions to Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.). The directive shall continue to apply for a further period of six months from November 01, 2015 to April 30, 2016, subject to review. The bank is under directions from the close of business of October 31, 2012. According to the Directions, Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.) cannot, from the close of business on October 31, 2012 and without prior app
The Reserve Bank of India has issued certain Directions to Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.). The directive shall continue to apply for a further period of six months from November 01, 2015 to April 30, 2016, subject to review. The bank is under directions from the close of business of October 31, 2012. According to the Directions, Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.) cannot, from the close of business on October 31, 2012 and without prior app
ਅਕਤੂ 22, 2015
RBI issues direction on implementation of Gold Monetisation Scheme (GMS), 2015
The Reserve Bank of India today issued a Direction to all Scheduled Commercial Banks (excluding Regional Rural Banks) on implementation of the Gold Monetisation Scheme, 2015 notified by the Central Government. The Scheme The GMS will replace the existing Gold Deposit Scheme, 1999. However, the deposits outstanding under the Gold Deposit Scheme will be allowed to run till maturity unless the depositors prematurely withdraw them. Resident Indians (Individuals, HUF, Trus
The Reserve Bank of India today issued a Direction to all Scheduled Commercial Banks (excluding Regional Rural Banks) on implementation of the Gold Monetisation Scheme, 2015 notified by the Central Government. The Scheme The GMS will replace the existing Gold Deposit Scheme, 1999. However, the deposits outstanding under the Gold Deposit Scheme will be allowed to run till maturity unless the depositors prematurely withdraw them. Resident Indians (Individuals, HUF, Trus
ਅਕਤੂ 20, 2015
RBI invites Applications for authorising Bharat Bill Payment System Operating Units (BBPOUs)
The Reserve Bank of India today invited applications for authorisation from entities currently engaged in bill payments and desirous of operating as Bharat Bill Payment System Operating Units (BBPOUs) under the Bharat Bill Payment System (BBPS). The BBPS will be an authorised payment system operated by National Payment Corporation of India (NPCI). To begin with, under BBPS the BBPOUs will function as entities facilitating collection of repetitive payments for everyday
The Reserve Bank of India today invited applications for authorisation from entities currently engaged in bill payments and desirous of operating as Bharat Bill Payment System Operating Units (BBPOUs) under the Bharat Bill Payment System (BBPS). The BBPS will be an authorised payment system operated by National Payment Corporation of India (NPCI). To begin with, under BBPS the BBPOUs will function as entities facilitating collection of repetitive payments for everyday
ਅਕਤੂ 20, 2015
RBI modifies the Directive imposed on the Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh
The Reserve Bank of India has notified that in partial modification of its Directive dated July 30, 2014, it has, vide directive dated October 19, 2015, modified the directions on the Indian Mercantile Co-operative Bank Ltd., Lucknow. The bank has been originally placed under directions w.e.f June 12, 2014 vide directive dated June 04, 2014. In terms of the said Directive dated July 30, 2014, among other conditions, a sum not exceeding ₹ 1,00,000/- of the total balanc
The Reserve Bank of India has notified that in partial modification of its Directive dated July 30, 2014, it has, vide directive dated October 19, 2015, modified the directions on the Indian Mercantile Co-operative Bank Ltd., Lucknow. The bank has been originally placed under directions w.e.f June 12, 2014 vide directive dated June 04, 2014. In terms of the said Directive dated July 30, 2014, among other conditions, a sum not exceeding ₹ 1,00,000/- of the total balanc
ਅਕਤੂ 17, 2015
RBI opens Sub-office in Imphal
The Reserve Bank of India opened its sub-office in Imphal on October 17, 2015. Shri O.Ibobi Singh, Hon’ble Chief Minister of Manipur and Shri Harun R. Khan, Deputy Governor, Reserve Bank of India, inaugurated the Reserve Bank’s sub-office in Imphal. The contact details of the sub-office are as under: Postal Address :- The General Manager (Officer-in-Charge), Reserve Bank of India, Chairman Bungalow (Hill Area Committee), Opposite Assembly, Chingmeirong, Lilashingkhong
The Reserve Bank of India opened its sub-office in Imphal on October 17, 2015. Shri O.Ibobi Singh, Hon’ble Chief Minister of Manipur and Shri Harun R. Khan, Deputy Governor, Reserve Bank of India, inaugurated the Reserve Bank’s sub-office in Imphal. The contact details of the sub-office are as under: Postal Address :- The General Manager (Officer-in-Charge), Reserve Bank of India, Chairman Bungalow (Hill Area Committee), Opposite Assembly, Chingmeirong, Lilashingkhong
ਅਕਤੂ 15, 2015
RBI cautions Public Not to respond to Phishing Mail sent in its Name
It has come to the notice of the Reserve Bank of India that an email has been sent in its name from mail id: Reserve Bank Of India and signed by RBI, Security Team offering a 'new online security protection' called "Netsecured” to “reduce fraud and theft in various banking system…(and)… to enable all customer's online banking in all Indian Banks to get protected and Secured.” The Reserve Bank cautions members of public that it has not developed any such software; nor
It has come to the notice of the Reserve Bank of India that an email has been sent in its name from mail id: Reserve Bank Of India and signed by RBI, Security Team offering a 'new online security protection' called "Netsecured” to “reduce fraud and theft in various banking system…(and)… to enable all customer's online banking in all Indian Banks to get protected and Secured.” The Reserve Bank cautions members of public that it has not developed any such software; nor
ਅਕਤੂ 15, 2015
RBI opens Sub-office at Aizawl
Photographs The Reserve Bank of India today opened a Sub-office at Aizawl to take care of immediate needs of the State of Mizoram. The Sub-office was inaugurated by Pu Lal Thanhawla, Chief Minister of Mizoram and Dr. Raghuram G. Rajan, Governor, Reserve Bank of India. The Sub-office comprises Financial Inclusion and Development Department (FIDD), Market Intelligence Cell and Consumer Education & Protection Cell (for complaints). The contact details of the Sub-offi
Photographs The Reserve Bank of India today opened a Sub-office at Aizawl to take care of immediate needs of the State of Mizoram. The Sub-office was inaugurated by Pu Lal Thanhawla, Chief Minister of Mizoram and Dr. Raghuram G. Rajan, Governor, Reserve Bank of India. The Sub-office comprises Financial Inclusion and Development Department (FIDD), Market Intelligence Cell and Consumer Education & Protection Cell (for complaints). The contact details of the Sub-offi
ਅਕਤੂ 14, 2015
RBI to Issue ₹ 10 Bank notes with inset letter "P"
The Reserve Bank of India will shortly issue ₹ 10 denomination bank notes in the Mahatma Gandhi Series-2005, with inset letter 'P' in both the numbering panels, bearing the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India. The year of printing '2015' appears on the reverse of the Bank note. The design of these bank notes to be issued now is similar in all respects to the ₹ 10 bank notes in Mahatma Gandhi Series-2005 issued earlier. All the bank note
The Reserve Bank of India will shortly issue ₹ 10 denomination bank notes in the Mahatma Gandhi Series-2005, with inset letter 'P' in both the numbering panels, bearing the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India. The year of printing '2015' appears on the reverse of the Bank note. The design of these bank notes to be issued now is similar in all respects to the ₹ 10 bank notes in Mahatma Gandhi Series-2005 issued earlier. All the bank note
ਅਕਤੂ 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'
ਅਕਤੂ 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
ਅਕਤੂ 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
ਅਕਤੂ 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
ਅਕਤੂ 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
ਸਤੰ 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
ਸਤੰ 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
ਸਤੰ 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
ਸਤੰ 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
ਸਤੰ 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
ਸਤੰ 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
ਸਤੰ 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/
ਸਤੰ 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
ਸਤੰ 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
ਸਤੰ 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
ਸਤੰ 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
ਸਤੰ 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
ਸਤੰ 09, 2015
ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਦੀ ਵੈਸ਼ ਕੋ-ਆਪ੍ਰੇਟਿਵ ਕਮਰਸ਼ੀਅਲ ਬੈਂਕ ਲਿ: ਨਵੀਂ ਦਿੱਲੀ ਨੂੰ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕੀਤੇ
9 ਸਿਤੰਬਰ 2015 ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਦੀ ਵੈਸ਼ ਕੋ-ਆਪ੍ਰੇਟਿਵ ਕਮਰਸ਼ੀਅਲ ਬੈਂਕ ਲਿ: ਨਵੀਂ ਦਿੱਲੀ ਨੂੰ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕੀਤੇ ਜਨਹਿਤ ਨੂੰ ਦੇਖਦੇ ਹੋਏ ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਇਸ ਗੱਲ ਨਾਲ ਸੰਤੁਸ਼ਟ ਹੈ ਕਿ ਦੀ ਵੈਸ਼ ਕੋ-ਆਪ੍ਰੇਟਿਵ ਕਮਰਸ਼ੀਅਲ ਬੈਂਕ ਲਿ: ਨਵੀਂ ਦਿੱਲੀ ਨੂੰ ਖਾਸ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕਰਨਾ ਜ਼ਰੂਰੀ ਹੈ ਇਸ ਲਈ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 (ਜੋ ਸੇਹਕਾਰੀ ਸਮਿਤੀਆਂ ਤੇ ਲਾਗੂ ਹੈ) ਦੀ ਧਾਰਾ 56 ਅਤੇ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 ਦੀ ਧਾਰਾ 35 ਏ ਦੀ ਉਪਧਾਰਾ(1) ਦੇ ਤਹਿਤ ਮਿਲੀਆਂ ਸ਼ਕਤੀਆਂ ਦਾ ਪ੍ਰਯੋਗ ਕਰਦੇ ਹੋਏ ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਇਹ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕਰਦਾ ਹੈ ਕਿ ਦੀ ਵੈਸ਼ ਕੋ-
9 ਸਿਤੰਬਰ 2015 ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਦੀ ਵੈਸ਼ ਕੋ-ਆਪ੍ਰੇਟਿਵ ਕਮਰਸ਼ੀਅਲ ਬੈਂਕ ਲਿ: ਨਵੀਂ ਦਿੱਲੀ ਨੂੰ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕੀਤੇ ਜਨਹਿਤ ਨੂੰ ਦੇਖਦੇ ਹੋਏ ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਇਸ ਗੱਲ ਨਾਲ ਸੰਤੁਸ਼ਟ ਹੈ ਕਿ ਦੀ ਵੈਸ਼ ਕੋ-ਆਪ੍ਰੇਟਿਵ ਕਮਰਸ਼ੀਅਲ ਬੈਂਕ ਲਿ: ਨਵੀਂ ਦਿੱਲੀ ਨੂੰ ਖਾਸ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕਰਨਾ ਜ਼ਰੂਰੀ ਹੈ ਇਸ ਲਈ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 (ਜੋ ਸੇਹਕਾਰੀ ਸਮਿਤੀਆਂ ਤੇ ਲਾਗੂ ਹੈ) ਦੀ ਧਾਰਾ 56 ਅਤੇ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 ਦੀ ਧਾਰਾ 35 ਏ ਦੀ ਉਪਧਾਰਾ(1) ਦੇ ਤਹਿਤ ਮਿਲੀਆਂ ਸ਼ਕਤੀਆਂ ਦਾ ਪ੍ਰਯੋਗ ਕਰਦੇ ਹੋਏ ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਇਹ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕਰਦਾ ਹੈ ਕਿ ਦੀ ਵੈਸ਼ ਕੋ-
ਸਤੰ 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
ਸਤੰ 09, 2015
ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਨਾਸਿਕ ਜ਼ਿਲ੍ਹਾ ਗਿਰਣਾ ਸਹਿਕਾਰੀ ਬੈਂਕ, ਨਾਸਿਕ ( ਮਹਾਰਾਸ਼ਟਰ) ਨੂੰ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕੀਤੇ
9 ਸਿਤੰਬਰ 2015 ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਨਾਸਿਕ ਜ਼ਿਲ੍ਹਾ ਗਿਰਣਾ ਸਹਿਕਾਰੀ ਬੈਂਕ, ਨਾਸਿਕ ( ਮਹਾਰਾਸ਼ਟਰ) ਨੂੰ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕੀਤੇ ਜਨਤਾ ਦੇ ਹਿੱਤ ਵਿੱਚ ਇਹ ਸੂਚਿਤ ਕੀਤਾ ਜਾਂਦਾ ਹੈ ਕਿ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 (ਜੋ ਸਹਿਕਾਰੀ ਸਮਿਤੀਆਂ ਤੇ ਲਾਗੂ ਹੈ) ਦੀ ਧਾਰਾ 56 ਅਤੇ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 ਦੀ ਧਾਰਾ 35 ਏ ਦੀ ਉਪਧਾਰਾ(1) ਦੇ ਤਹਿਤ ਮਿਲੀਆਂ ਸ਼ਕਤੀਆਂ ਦਾ ਪ੍ਰਯੋਗ ਕਰਦੇ ਹੋਏ ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਨਾਸਿਕ ਜ਼ਿਲ੍ਹਾ ਗਿਰਣਾ ਸਹਿਕਾਰੀ ਬੈਂਕ, ਨਾਸਿਕ (ਮਹਾਰਾਸ਼ਟਰ) ਨੂੰ ਖਾਸ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕੀਤੇ ਹਨ ਕਿ 9 ਸਿਤੰਬਰ, 2015 ਤੋਂ ਕਾਰੋਬਾਰ ਦੀ ਸਮਾਪਤੀ ਤੇ, ਉਪ੍ਰੋਕਤ ਬੈਂਕ
9 ਸਿਤੰਬਰ 2015 ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਨਾਸਿਕ ਜ਼ਿਲ੍ਹਾ ਗਿਰਣਾ ਸਹਿਕਾਰੀ ਬੈਂਕ, ਨਾਸਿਕ ( ਮਹਾਰਾਸ਼ਟਰ) ਨੂੰ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕੀਤੇ ਜਨਤਾ ਦੇ ਹਿੱਤ ਵਿੱਚ ਇਹ ਸੂਚਿਤ ਕੀਤਾ ਜਾਂਦਾ ਹੈ ਕਿ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 (ਜੋ ਸਹਿਕਾਰੀ ਸਮਿਤੀਆਂ ਤੇ ਲਾਗੂ ਹੈ) ਦੀ ਧਾਰਾ 56 ਅਤੇ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 ਦੀ ਧਾਰਾ 35 ਏ ਦੀ ਉਪਧਾਰਾ(1) ਦੇ ਤਹਿਤ ਮਿਲੀਆਂ ਸ਼ਕਤੀਆਂ ਦਾ ਪ੍ਰਯੋਗ ਕਰਦੇ ਹੋਏ ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਨਾਸਿਕ ਜ਼ਿਲ੍ਹਾ ਗਿਰਣਾ ਸਹਿਕਾਰੀ ਬੈਂਕ, ਨਾਸਿਕ (ਮਹਾਰਾਸ਼ਟਰ) ਨੂੰ ਖਾਸ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕੀਤੇ ਹਨ ਕਿ 9 ਸਿਤੰਬਰ, 2015 ਤੋਂ ਕਾਰੋਬਾਰ ਦੀ ਸਮਾਪਤੀ ਤੇ, ਉਪ੍ਰੋਕਤ ਬੈਂਕ
ਸਤੰ 09, 2015
ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਦੀ ਵੈਸ਼ ਕੋ-ਆਪ੍ਰੇਟਿਵ ਕਮਰਸ਼ੀਅਲ ਬੈਂਕ ਲਿ: ਨਵੀਂ ਦਿੱਲੀ ਨੂੰ ਨਿਰਦੇਸ਼ ਜਾਰੀ ਕੀਤੇ
9 ਸਿਤੰਬਰ 2015 ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਸ਼੍ਰੀ ਚੈਤੱਨਿਆ ਕੋ-ਆਪ੍ਰੇਟਿਵ ਬੈਂਕ ਲਿ., ਨਾਦਿਆ (ਪਛੱਮ ਬੰਗਾਲ) ਉੱਤੇ ਮੌਦ੍ਰਿਕ ਦੰਡ ਲਗਾਇਆ ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 (ਜੋ ਕਿ ਸਹਿਕਾਰੀ ਸਮਿਤੀਆਂ ਤੇ ਲਾਗੂ ਹੈ) ਦੀ ਧਾਰਾ 46(4) ਅਤੇ ਧਾਰਾ 47 ਏ(1)(ਬੀ) ਦੇ ਪ੍ਰਾਵਧਾਨਾਂ ਦੇ ਤਹਿਤ ਮਿਲੀਆਂ ਹੋਈਆਂ ਸ਼ਕਤੀਆਂ ਦਾ ਪ੍ਰਯੋਗ ਕਰਦੇ ਹੋਏ ਸ਼੍ਰੀ ਚੈਤੱਨਿਆ ਕੋ-ਆਪ੍ਰੇਟਿਵ ਬੈਂਕ ਲਿ., ਨਾਦਿਆ (ਪਛੱਮ ਬੰਗਾਲ) ਤੇ ਖਾਤੇ ਅਤੇ ਤੁਲਨ-ਪੱਤਰ ਦਾ ਪ੍ਰਕਾਸ਼ਨ/ਪੇਸ਼ ਨਾ ਕਰਨ ਕਰਕੇ ₹ 50,000 ( ਪੰਜਾਹ ਹਜ਼ਾਰ ਰੁਪਏ ਸਿਰਫ ) ਦਾ ਮੌਦ੍ਰਿਕ ਦੰਡ ਲਗਾਇਆ ਗਿਆ ਹੈ । ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂ
9 ਸਿਤੰਬਰ 2015 ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਸ਼੍ਰੀ ਚੈਤੱਨਿਆ ਕੋ-ਆਪ੍ਰੇਟਿਵ ਬੈਂਕ ਲਿ., ਨਾਦਿਆ (ਪਛੱਮ ਬੰਗਾਲ) ਉੱਤੇ ਮੌਦ੍ਰਿਕ ਦੰਡ ਲਗਾਇਆ ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਨੇ ਬੈਂਕਿੰਗ ਰੈਗੂਲੇਸ਼ਨ ਐਕਟ, 1949 (ਜੋ ਕਿ ਸਹਿਕਾਰੀ ਸਮਿਤੀਆਂ ਤੇ ਲਾਗੂ ਹੈ) ਦੀ ਧਾਰਾ 46(4) ਅਤੇ ਧਾਰਾ 47 ਏ(1)(ਬੀ) ਦੇ ਪ੍ਰਾਵਧਾਨਾਂ ਦੇ ਤਹਿਤ ਮਿਲੀਆਂ ਹੋਈਆਂ ਸ਼ਕਤੀਆਂ ਦਾ ਪ੍ਰਯੋਗ ਕਰਦੇ ਹੋਏ ਸ਼੍ਰੀ ਚੈਤੱਨਿਆ ਕੋ-ਆਪ੍ਰੇਟਿਵ ਬੈਂਕ ਲਿ., ਨਾਦਿਆ (ਪਛੱਮ ਬੰਗਾਲ) ਤੇ ਖਾਤੇ ਅਤੇ ਤੁਲਨ-ਪੱਤਰ ਦਾ ਪ੍ਰਕਾਸ਼ਨ/ਪੇਸ਼ ਨਾ ਕਰਨ ਕਰਕੇ ₹ 50,000 ( ਪੰਜਾਹ ਹਜ਼ਾਰ ਰੁਪਏ ਸਿਰਫ ) ਦਾ ਮੌਦ੍ਰਿਕ ਦੰਡ ਲਗਾਇਆ ਗਿਆ ਹੈ । ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂ
ਸਤੰ 03, 2015
RBI to issue ₹5 Coins to commemorate “Golden Jubilee of Indo-Pak War 1965"
The Reserve Bank of India will shortly put into circulation ₹ 5 coins minted by the Government of India to commemorate the Golden Jubilee of Indo-Pak war 1965. The design of the coins has: On the obverse: The Lion Capital of Ashoka Pillar in the center with the legend "सत्यमेव जयते" inscribed below, flanked on the left periphery with the word "भारत" in Devnagri script and on the right periphery with the word "INDIA" in English. It will also bear the Rupee symbol " ₹ "
The Reserve Bank of India will shortly put into circulation ₹ 5 coins minted by the Government of India to commemorate the Golden Jubilee of Indo-Pak war 1965. The design of the coins has: On the obverse: The Lion Capital of Ashoka Pillar in the center with the legend "सत्यमेव जयते" inscribed below, flanked on the left periphery with the word "भारत" in Devnagri script and on the right periphery with the word "INDIA" in English. It will also bear the Rupee symbol " ₹ "
ਸਤੰ 03, 2015
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – Choundeshwari Sahakari Bank Ltd, Ichalkaranji, Kolhapur
Choundeshwari Sahakari Bank Ltd, Ichalkaranji, Kolhapur, was placed under directions for a period of six months vide directive UBD.CO.BSD-I/D-07/12.22.044/2014-15 dated August 28, 2014 from the close of business on August 30, 2014. The validity of the aforesaid directive was further extended for a period of six months vide directive dated February 05, 2015 from March 01, 2015 to August 31, 2015. It is hereby notified for the information of the public that the period o
Choundeshwari Sahakari Bank Ltd, Ichalkaranji, Kolhapur, was placed under directions for a period of six months vide directive UBD.CO.BSD-I/D-07/12.22.044/2014-15 dated August 28, 2014 from the close of business on August 30, 2014. The validity of the aforesaid directive was further extended for a period of six months vide directive dated February 05, 2015 from March 01, 2015 to August 31, 2015. It is hereby notified for the information of the public that the period o
ਅਗ 28, 2015
RBI’s Monetary Museum unveils Special Display of Mysore Coins
The Reserve Bank of India’s Monetary Museum unveiled a special display on Mysore Coins on August 20, 2015. Dr. Deepali Pant Joshi, Executive Director inaugurated the special display. A 20-page information brochure on Mysore Coins displays was also released on the occasion. Shri U. S. Paliwal, Executive Director, Prof. Damodar Acharya, Director on the Reserve Bank’s Central Board of Directors and Shri S Ramaswamy, Regional Director, Mumbai Office were present. Special
The Reserve Bank of India’s Monetary Museum unveiled a special display on Mysore Coins on August 20, 2015. Dr. Deepali Pant Joshi, Executive Director inaugurated the special display. A 20-page information brochure on Mysore Coins displays was also released on the occasion. Shri U. S. Paliwal, Executive Director, Prof. Damodar Acharya, Director on the Reserve Bank’s Central Board of Directors and Shri S Ramaswamy, Regional Director, Mumbai Office were present. Special
ਅਗ 28, 2015
Bank Holiday on Second & Fourth Saturdays from September 1; RBI to offer its Support Services to Banks on Working Saturdays
All scheduled and non-scheduled banks – public, private, foreign, cooperative, regional rural and local area banks – will observe public holiday on second and fourth Saturdays from September 01, 2015; and will observe full working days on Saturdays other than second and fourth Saturdays (referred to as working Saturdays in the Press Release). Consequent to this, the Reserve Bank of India has announced the following changes in its functioning with effect from September
All scheduled and non-scheduled banks – public, private, foreign, cooperative, regional rural and local area banks – will observe public holiday on second and fourth Saturdays from September 01, 2015; and will observe full working days on Saturdays other than second and fourth Saturdays (referred to as working Saturdays in the Press Release). Consequent to this, the Reserve Bank of India has announced the following changes in its functioning with effect from September
ਅਗ 28, 2015
RBI withdraws Directions issued to “The Janata Commercial Cooperative Bank Ltd., Khamgaon, Buldhana, Maharashtra”
The Reserve Bank of India has withdrawn the All Inclusive Directions issued on September 12, 2012 to “The Janata Commercial Cooperative Bank Ltd., Khamgaon (Buldhana), Maharashtra” with effect from the close of business as on August 26, 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
The Reserve Bank of India has withdrawn the All Inclusive Directions issued on September 12, 2012 to “The Janata Commercial Cooperative Bank Ltd., Khamgaon (Buldhana), Maharashtra” with effect from the close of business as on August 26, 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
ਅਗ 27, 2015
RBI doubles Limits of Cash Withdrawal at POS for Tier III to VI Centres
The Reserve Bank of India has doubled the limit for cash withdrawal at point-of-sale (POS) in Tier III to VI centres from ₹ 1000/- to ₹ 2000/- per day. This facility will be available for debit cards and open system prepaid cards issued only by banks. It is envisaged that the enhanced amount will add to customer convenience and aid re-cycling of cash in Tier III to VI centres even as the push towards a less cash society is pursued. This facility will be reviewed keepi
The Reserve Bank of India has doubled the limit for cash withdrawal at point-of-sale (POS) in Tier III to VI centres from ₹ 1000/- to ₹ 2000/- per day. This facility will be available for debit cards and open system prepaid cards issued only by banks. It is envisaged that the enhanced amount will add to customer convenience and aid re-cycling of cash in Tier III to VI centres even as the push towards a less cash society is pursued. This facility will be reviewed keepi
ਅਗ 25, 2015
RBI imposes Monetary Penalty on Latur Urban Co-operative Bank Ltd., Latur
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on Latur Urban Co-operative Bank Ltd., Latur 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 the bank, in response
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on Latur Urban Co-operative Bank Ltd., Latur 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 the bank, in response
ਅਗ 25, 2015
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – Shatabdi Mahila Sahakari Bank Ltd., Thane, District-Thane, Maharashtra
The Shatabdi Mahila Sahakari Bank Ltd., Thane was placed under directions for a period of six months vide directive UBD.CO.BSD-I/D-5/12.22.504/2014-15 dated August 14, 2014 from the close of business on August 20, 2014. The validity of the aforesaid directive was further extended for a period of six months vide directive DCBR.CO.BSD-I/D-31/12.22.504/2014-15 dated February 04, 2015 from the close of business on February 19, 2015. It is hereby notified for the informati
The Shatabdi Mahila Sahakari Bank Ltd., Thane was placed under directions for a period of six months vide directive UBD.CO.BSD-I/D-5/12.22.504/2014-15 dated August 14, 2014 from the close of business on August 20, 2014. The validity of the aforesaid directive was further extended for a period of six months vide directive DCBR.CO.BSD-I/D-31/12.22.504/2014-15 dated February 04, 2015 from the close of business on February 19, 2015. It is hereby notified for the informati
ਅਗ 24, 2015
RBI imposes Monetary Penalty on Khargone Nagrik Sahakari Bank Maryadit, Khargone
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only ) on the Khargone Nagrik Sahakari Bank Maryadit, Khargone in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with section 46(4) of Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for the violation of the directives/guidelines of the Reserve Bank on implementation of Know Your Customers (KYC)/Anti Money Laundering (AML) no
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only ) on the Khargone Nagrik Sahakari Bank Maryadit, Khargone in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with section 46(4) of Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for the violation of the directives/guidelines of the Reserve Bank on implementation of Know Your Customers (KYC)/Anti Money Laundering (AML) no
ਅਗ 24, 2015
RBI imposes Monetary Penalty on Krishna Mercantile Co-operative Bank Ltd., Bhopal
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees five lakh only) on the Krishna Mercantile Co-operative Bank Ltd., Bhopal in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with section 46(4) of Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for the violation of the directives/guidelines of the Reserve Bank on implementation of Know Your Customers (KYC)/Anti Money Laundering (AML) n
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees five lakh only) on the Krishna Mercantile Co-operative Bank Ltd., Bhopal in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with section 46(4) of Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for the violation of the directives/guidelines of the Reserve Bank on implementation of Know Your Customers (KYC)/Anti Money Laundering (AML) n
ਅਗ 21, 2015
RBI further extends Directions issued to Rupee Co-operative Bank Ltd., Pune
The Reserve Bank of India has extended directions issued to Rupee Co-operative Bank Ltd., Pune, Maharashtra vide directive DCBR.CO.AID/D-10/12.22.218/2015-16 dated August 20, 2015 for a further period of six months from August 22, 2015 to February 21, 2016, subject to review. The directions were originally imposed from February 22, 2013 to August 21, 2013 and were extended on three occasions for a period of six months each and twice for a period of three months each.
The Reserve Bank of India has extended directions issued to Rupee Co-operative Bank Ltd., Pune, Maharashtra vide directive DCBR.CO.AID/D-10/12.22.218/2015-16 dated August 20, 2015 for a further period of six months from August 22, 2015 to February 21, 2016, subject to review. The directions were originally imposed from February 22, 2013 to August 21, 2013 and were extended on three occasions for a period of six months each and twice for a period of three months each.
ਅਗ 21, 2015
Issue of ` 1000 banknotes with incorporation of Rupee symbol ( ` ) and inset letter 'L' with numerals in ascending size in number panels
The Reserve Bank of India will shortly issue ₹ 1000 denomination Banknotes in the Mahatma Gandhi Series-2005, incorporating "₹" symbol on the obverse and the reverse, with inset letter 'L' in both the numbering panels, bearing the signature of Dr. Raghuram G.Rajan, Governor, Reserve Bank of India, and the year of printing '2015' printed on the reverse of the Banknote. The design of these notes to be issued now is similar in all respects to the ₹ 1000 Banknotes in Maha
The Reserve Bank of India will shortly issue ₹ 1000 denomination Banknotes in the Mahatma Gandhi Series-2005, incorporating "₹" symbol on the obverse and the reverse, with inset letter 'L' in both the numbering panels, bearing the signature of Dr. Raghuram G.Rajan, Governor, Reserve Bank of India, and the year of printing '2015' printed on the reverse of the Banknote. The design of these notes to be issued now is similar in all respects to the ₹ 1000 Banknotes in Maha
ਅਗ 19, 2015
RBI grants “in-principle” approval to 11 Applicants for Payments Banks
The Reserve Bank of India has today decided to grant “in-principle” approval to the following 11 applicants to set up payments banks under the Guidelines for Licensing of Payments Banks issued on November 27, 2014 (Guidelines). Aditya Birla Nuvo Limited Airtel M Commerce Services Limited Cholamandalam Distribution Services Limited Department of Posts Fino PayTech Limited National Securities Depository Limited Reliance Industries Limited Shri Dilip Shantilal Shanghvi S
The Reserve Bank of India has today decided to grant “in-principle” approval to the following 11 applicants to set up payments banks under the Guidelines for Licensing of Payments Banks issued on November 27, 2014 (Guidelines). Aditya Birla Nuvo Limited Airtel M Commerce Services Limited Cholamandalam Distribution Services Limited Department of Posts Fino PayTech Limited National Securities Depository Limited Reliance Industries Limited Shri Dilip Shantilal Shanghvi S
ਅਗ 17, 2015
RBI cancels Certificate of Registration of 7 NBFCs
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following seven 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. & Date Date of cancellation 1. M/s Artisans Micro Finance Private Limited 13 N Block Market, 2nd Floor, Greater Kailash Part1, New Delhi-1
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following seven 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. & Date Date of cancellation 1. M/s Artisans Micro Finance Private Limited 13 N Block Market, 2nd Floor, Greater Kailash Part1, New Delhi-1
ਅਗ 12, 2015
Pay IT dues in advance at RBI or at authorised bank branches
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
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
ਅਗ 07, 2015
Issue of ?500 banknotes with incorporation of Rupee symbol (?) and inset letter 'E' with numerals in ascending size in number panels
The Reserve Bank of India will shortly issue ` 500 denomination Banknotes in the Mahatma Gandhi Series-2005, incorporating "`" symbol on the obverse and the reverse, with inset letter 'E' in both the numbering panels, bearing the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, and the year of printing '2015' printed on the reverse of the Banknote. The design of these notes to be issued now is similar in all respects to the ` 500 Banknotes in Mahat
The Reserve Bank of India will shortly issue ` 500 denomination Banknotes in the Mahatma Gandhi Series-2005, incorporating "`" symbol on the obverse and the reverse, with inset letter 'E' in both the numbering panels, bearing the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, and the year of printing '2015' printed on the reverse of the Banknote. The design of these notes to be issued now is similar in all respects to the ` 500 Banknotes in Mahat
ਅਗ 07, 2015
Issue of ` 100 banknotes with incorporation of Rupee symbol (`) and without inset letter with numerals in ascending size in number panels
The Reserve Bank of India will shortly issue ` 100 denomination Banknotes in the Mahatma Gandhi Series-2005, incorporating "`" symbol on the obverse and the reverse, without inset letter, bearing the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, and the year of printing '2015' printed on the reverse of the Banknote. The design of these notes to be issued now is similar in all respects to the ` 100 Banknotes in Mahatma Gandhi Series- 2005 issued
The Reserve Bank of India will shortly issue ` 100 denomination Banknotes in the Mahatma Gandhi Series-2005, incorporating "`" symbol on the obverse and the reverse, without inset letter, bearing the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, and the year of printing '2015' printed on the reverse of the Banknote. The design of these notes to be issued now is similar in all respects to the ` 100 Banknotes in Mahatma Gandhi Series- 2005 issued
ਅਗ 06, 2015
RBI cancels Certificate of Registration
The Reserve Bank of India have cancelled the certificate of registration of the following 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. & Date Date of cancellation 1. Hanumangarh Finvest Private Limited 8, New Grain Market, Hanumangarh (Rajasthan)-335 512 B-10.00003 July 01, 2008 Jun
The Reserve Bank of India have cancelled the certificate of registration of the following 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. & Date Date of cancellation 1. Hanumangarh Finvest Private Limited 8, New Grain Market, Hanumangarh (Rajasthan)-335 512 B-10.00003 July 01, 2008 Jun
ਅਗ 06, 2015
RBI further extends Directions issued to Dilip Urban Co-operative Bank Ltd., Barshi, District - Solapur, Maharashtra
The Reserve Bank of India has notified that Dilip Urban Co-operative Bank Ltd., Barshi, District - Solapur was placed under directions for a period of six months vide directive UBD.CO.BSD-I/D-04/12.22.423/2014-15 dated August 06, 2014 from the close of business on August 08, 2014. The validity of the aforesaid directive was further extended for a period of six months from February 08, 2015 to August 07, 2015 vide directive dated January 20, 2015. It is hereby notified
The Reserve Bank of India has notified that Dilip Urban Co-operative Bank Ltd., Barshi, District - Solapur was placed under directions for a period of six months vide directive UBD.CO.BSD-I/D-04/12.22.423/2014-15 dated August 06, 2014 from the close of business on August 08, 2014. The validity of the aforesaid directive was further extended for a period of six months from February 08, 2015 to August 07, 2015 vide directive dated January 20, 2015. It is hereby notified
ਅਗ 05, 2015
RBI imposes Monetary Penalty on Dausa Urban Co-operative Bank Limited, Dausa
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on the Dausa Urban Co-operative Bank Limited, Dausa, 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 the violations of the guidelines/directives on Know Your Customers (KYC)/Anti Money Laundering (AML) in respect of absence of system of ris
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on the Dausa Urban Co-operative Bank Limited, Dausa, 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 the violations of the guidelines/directives on Know Your Customers (KYC)/Anti Money Laundering (AML) in respect of absence of system of ris
ਜੁਲਾ 30, 2015
` 10 coins issued to commemorate "International Day of Yoga"
The Reserve Bank of India will shortly put into circulation ₹ 10 coins to commemorate the International Day of Yoga which the Government of India has minted. The design details of these coins are: Obverse The obverse of the coin bears the Lion Capitol of Ashoka Pillar in the center with the legend "सत्यमेव जयते" inscribed below, flanked on the left periphery with the word "भारत" in Devnagri script and on the right periphery flanked with the word "INDIA" in English. It
The Reserve Bank of India will shortly put into circulation ₹ 10 coins to commemorate the International Day of Yoga which the Government of India has minted. The design details of these coins are: Obverse The obverse of the coin bears the Lion Capitol of Ashoka Pillar in the center with the legend "सत्यमेव जयते" inscribed below, flanked on the left periphery with the word "भारत" in Devnagri script and on the right periphery flanked with the word "INDIA" in English. It
ਜੁਲਾ 30, 2015
RBI further extends Directions issued to The C.K.P.Co-operative Bank Ltd., Mumbai, Maharashtra
The C.K.P.Co-operative Bank Ltd., Mumbai was placed under directions for a period of six months vide directive UBD.CO.BSD-I/D-34/12.22.035/2013-14 dated April 30, 2014 from the close of business on May 2, 2014. The validity of the aforesaid directive was further extended for a period of three months vide directive dated October 21, 2014 from the close of business on November 1, 2014 and further for a period of six months vide directive dated January 20, 2015 from the
The C.K.P.Co-operative Bank Ltd., Mumbai was placed under directions for a period of six months vide directive UBD.CO.BSD-I/D-34/12.22.035/2013-14 dated April 30, 2014 from the close of business on May 2, 2014. The validity of the aforesaid directive was further extended for a period of three months vide directive dated October 21, 2014 from the close of business on November 1, 2014 and further for a period of six months vide directive dated January 20, 2015 from the
ਜੁਲਾ 16, 2015
Inscribing on Bank Notes
It has been brought to the notice of Reserve Bank of India that members of public and institutions write number, name or messages, etc. on the watermark window of banknotes, thus defacing the banknotes. The watermark window has an important security feature which distinguishes it from a counterfeit note. Any defacement on the window will not allow the common man to identify one of the features of a genuine note. The public is, therefore, requested to refrain from doin
It has been brought to the notice of Reserve Bank of India that members of public and institutions write number, name or messages, etc. on the watermark window of banknotes, thus defacing the banknotes. The watermark window has an important security feature which distinguishes it from a counterfeit note. Any defacement on the window will not allow the common man to identify one of the features of a genuine note. The public is, therefore, requested to refrain from doin
ਜੂਨ 25, 2015
Now ₹ 100 Notes to come with Numerals in Ascending Size in Number Panels
The Reserve Bank of India has issued ₹ 100 denomination banknotes in Mahatma Gandhi Series – 2005 with a new numbering pattern. Now the numerals in both the number panels of these banknotes will be in ascending size from left to right, while the first three alphanumeric characters (prefix) will remain constant in size. (see illustration) Printing the numerals in ascending size is a visible security feature in the banknotes so that the general public can easily disting
The Reserve Bank of India has issued ₹ 100 denomination banknotes in Mahatma Gandhi Series – 2005 with a new numbering pattern. Now the numerals in both the number panels of these banknotes will be in ascending size from left to right, while the first three alphanumeric characters (prefix) will remain constant in size. (see illustration) Printing the numerals in ascending size is a visible security feature in the banknotes so that the general public can easily disting
ਜੂਨ 25, 2015
RBI extends the Date for Withdrawal of Pre-2005 Series Banknotes
The Reserve Bank of India has extended the date for the public to exchange their pre-2005 banknotes till December 31, 2015. It had, in December 2014, set the last date for public to exchange these notes as June 30, 2015. Soliciting cooperation from members of public in withdrawing these banknotes from circulation, the Reserve Bank of India has urged them to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them. The Re
The Reserve Bank of India has extended the date for the public to exchange their pre-2005 banknotes till December 31, 2015. It had, in December 2014, set the last date for public to exchange these notes as June 30, 2015. Soliciting cooperation from members of public in withdrawing these banknotes from circulation, the Reserve Bank of India has urged them to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them. The Re
ਜੂਨ 19, 2015
Hindi and Other Indian Languages can act as a bridge between Banker and Customer: Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, June 19, 2015
Photographs “Recently there have been many incidents where poor people were robbed of their money through Ponzi schemes. Very often people lose their lifetime earnings through these schemes. It is the responsibility of the Government and the banking sector to provide banking facilities to those who have money, but have no access to formal banking channels in a language that they would understand. We should also arrange for financial literacy in the language that they
Photographs “Recently there have been many incidents where poor people were robbed of their money through Ponzi schemes. Very often people lose their lifetime earnings through these schemes. It is the responsibility of the Government and the banking sector to provide banking facilities to those who have money, but have no access to formal banking channels in a language that they would understand. We should also arrange for financial literacy in the language that they
ਜੂਨ 11, 2015
Issue of ₹ 10 Banknotes with incorporation of Rupee symbol (₹) and inset letter 'U'
The Reserve Bank of India will shortly issue ₹ 10 denomination Banknotes in the Mahatma Gandhi Series-2005, incorporating “₹" symbol on the obverse and the reverse, with inset letter 'U' in both the numbering panels, bearing the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India and the year of printing '2015' printed on the reverse of the Banknote. The design of these notes to be issued now is similar in all respects to the ₹ 10 Banknotes in Mahatma
The Reserve Bank of India will shortly issue ₹ 10 denomination Banknotes in the Mahatma Gandhi Series-2005, incorporating “₹" symbol on the obverse and the reverse, with inset letter 'U' in both the numbering panels, bearing the signature of Dr. Raghuram G. Rajan, Governor, Reserve Bank of India and the year of printing '2015' printed on the reverse of the Banknote. The design of these notes to be issued now is similar in all respects to the ₹ 10 Banknotes in Mahatma
ਅਪ੍ਰੈ 16, 2015
Issue of ₹ 10 coins to commemorate the occasion of "Centenary commemoration of Mahatma Gandhi's return from South Africa"
The Government of India has minted the above mentioned coins which the Reserve Bank of India will shortly put into circulation. Details regarding design, shape, etc. of these coins have been notified in the following Gazette of the Government of India, published by the Ministry of Finance, Department of Economic Affairs- The Gazette of India-Extraordinary- Part II-Section 3-Sub-section (i) - No.711 Dated December 31, 2014 These coins are legal tender as provided in Th
The Government of India has minted the above mentioned coins which the Reserve Bank of India will shortly put into circulation. Details regarding design, shape, etc. of these coins have been notified in the following Gazette of the Government of India, published by the Ministry of Finance, Department of Economic Affairs- The Gazette of India-Extraordinary- Part II-Section 3-Sub-section (i) - No.711 Dated December 31, 2014 These coins are legal tender as provided in Th
ਅਪ੍ਰੈ 11, 2015
RBI cautions on 'All Bank Balance Enquiry' App
It has come to the notice of the Reserve Bank of India that an app (application) is doing rounds on WhatsApp purportedly to facilitate checking of balance in customers' bank accounts. The application has an RBI logo with the title 'All Bank Balance Enquiry No' and has listed several banks with either a mobile number or call centre number. The Reserve Bank wishes to clarify that it has not developed any such application. Members of public are, therefore, advised to use
It has come to the notice of the Reserve Bank of India that an app (application) is doing rounds on WhatsApp purportedly to facilitate checking of balance in customers' bank accounts. The application has an RBI logo with the title 'All Bank Balance Enquiry No' and has listed several banks with either a mobile number or call centre number. The Reserve Bank wishes to clarify that it has not developed any such application. Members of public are, therefore, advised to use
ਅਪ੍ਰੈ 03, 2015
RBI celebrates 80th Anniversary: Prime Minister urges Banking Fraternity to set Goals for Next 20 Years to remove India's Poverty
The Prime Minister of India Shri Narendra Modi urged the Reserve Bank of India to take the lead in encouraging financial institutions to set concrete targets for consolidating financial inclusion over the next 20 years, to help transform the quality of life of the poor. "I come as a representative of the poor, underprivileged, marginalised and tribals; I am one among them; I seek on their behalf and trust you will not disappoint me," the Prime Minister said at the Fin
The Prime Minister of India Shri Narendra Modi urged the Reserve Bank of India to take the lead in encouraging financial institutions to set concrete targets for consolidating financial inclusion over the next 20 years, to help transform the quality of life of the poor. "I come as a representative of the poor, underprivileged, marginalised and tribals; I am one among them; I seek on their behalf and trust you will not disappoint me," the Prime Minister said at the Fin
ਫ਼ਰ 12, 2015
Reserve Bank of India releases the Annual Report of the Banking Ombudsman Scheme 2006: 2013-14
The Reserve Bank of India, today, released the Annual Report of the Banking Ombudsman Scheme for the year 2013-2014. The Banking Ombudsman Scheme was established by the Reserve Bank in 1995 to provide speedy solutions to the grievances faced by bank customers. There are 15 Offices of Banking Ombudsmen (BOS) across the country. The report is a synopsis of activities of all the offices of Banking Ombudsman. The Report indicates that compared to last year, there has been
The Reserve Bank of India, today, released the Annual Report of the Banking Ombudsman Scheme for the year 2013-2014. The Banking Ombudsman Scheme was established by the Reserve Bank in 1995 to provide speedy solutions to the grievances faced by bank customers. There are 15 Offices of Banking Ombudsmen (BOS) across the country. The report is a synopsis of activities of all the offices of Banking Ombudsman. The Report indicates that compared to last year, there has been
ਜਨ 09, 2015
RBI releases Guidelines on Criteria for Institutions, seeking Financial Assistance from the Depositor Education and Awareness Fund
The Reserve Bank of India released on its website today, the Guidelines on the Criteria for registering institutions, organisations and associations for grant of financial assistance from the Depositor Education and Awareness Fund (Fund). Key features Objectives and Scope of activities: To grant financial assistance to institutions/ organisations/ associations for taking up various activities relating to promoting bank depositors’ education and awareness. Eligible ent
The Reserve Bank of India released on its website today, the Guidelines on the Criteria for registering institutions, organisations and associations for grant of financial assistance from the Depositor Education and Awareness Fund (Fund). Key features Objectives and Scope of activities: To grant financial assistance to institutions/ organisations/ associations for taking up various activities relating to promoting bank depositors’ education and awareness. Eligible ent
ਜਨ 01, 2015
RBI cautions Public against Multi Level Marketing Activities
The Reserve Bank of India has cautioned the public against Multi-level Marketing (MLM) activities so that investors do not fall prey to unscrupulous entities. Explaining the functioning of these entities, the Reserve Bank stated that MLM/Chain Marketing/Pyramid Structure schemes promise easy or quick money upon enrolment of members. Income under such schemes majorly comes from enrolling more and more members from whom hefty subscription fees are taken rather than from
The Reserve Bank of India has cautioned the public against Multi-level Marketing (MLM) activities so that investors do not fall prey to unscrupulous entities. Explaining the functioning of these entities, the Reserve Bank stated that MLM/Chain Marketing/Pyramid Structure schemes promise easy or quick money upon enrolment of members. Income under such schemes majorly comes from enrolling more and more members from whom hefty subscription fees are taken rather than from
ਦਸੰ 23, 2014
Deposit Pre-2005 Currency Notes in Your Bank Accounts before June 30, 2015: RBI urges Public
Soliciting cooperation from the public in withdrawing these notes from circulation, the Reserve Bank of India has urged them to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them. The Reserve Bank of India has stated that the public can do so till June 30, 2015. Earlier, in March 2014, it had set the last date for public to exchange these notes was January 01, 2015. The Reserve Bank has stated that the notes can be
Soliciting cooperation from the public in withdrawing these notes from circulation, the Reserve Bank of India has urged them to deposit the old design notes in their bank accounts or exchange them at a bank branch convenient to them. The Reserve Bank of India has stated that the public can do so till June 30, 2015. Earlier, in March 2014, it had set the last date for public to exchange these notes was January 01, 2015. The Reserve Bank has stated that the notes can be
ਦਸੰ 11, 2014
Supervisory College for Punjab National Bank
Photographs The Reserve Bank of India set up the Supervisory College for Punjab National Bank on December 09, 2014 in Mumbai. Shri Chandan Sinha, Executive Director, Reserve Bank of India inaugurated the College. Shri Chandan Sinha in his address stated that the regulatory framework is getting synchronised across jurisdictions on the lines of the Basel framework and regulators are also learning from each-other about the best practices. He further emphasised that super
Photographs The Reserve Bank of India set up the Supervisory College for Punjab National Bank on December 09, 2014 in Mumbai. Shri Chandan Sinha, Executive Director, Reserve Bank of India inaugurated the College. Shri Chandan Sinha in his address stated that the regulatory framework is getting synchronised across jurisdictions on the lines of the Basel framework and regulators are also learning from each-other about the best practices. He further emphasised that super
ਦਸੰ 09, 2014
Supervisory College for State Bank of India
Photographs The second Supervisory College for State Bank of India was held in Mumbai on December 08, 2014. Shri S.S. Mundra, Deputy Governor, Reserve Bank of India inaugurated the supervisory college. In his address, Shri Mundra briefly touched upon the set-up of Supervisory Colleges and then presented a bird’s eye view of the banking system in India and the tools for the supervision of commercial banks by RBI. He mentioned that though none of the Indian banks qualif
Photographs The second Supervisory College for State Bank of India was held in Mumbai on December 08, 2014. Shri S.S. Mundra, Deputy Governor, Reserve Bank of India inaugurated the supervisory college. In his address, Shri Mundra briefly touched upon the set-up of Supervisory Colleges and then presented a bird’s eye view of the banking system in India and the tools for the supervision of commercial banks by RBI. He mentioned that though none of the Indian banks qualif
ਦਸੰ 03, 2014
RBI releases Charter of Customer Rights
The Reserve Bank of India today released a Charter of Customer Rights, which enshrines broad, overarching principles for protection of bank customers and enunciates the ‘five’ basic rights of bank customers. These are: (i) Right to Fair Treatment; (ii) Right to Transparency; Fair and Honest Dealing; (iii) Right to Suitability; (iv) Right to Privacy; and (v) Right to Grievance Redress and Compensation. The Reserve Bank has also advised the Indian Banks’ Association (IB
The Reserve Bank of India today released a Charter of Customer Rights, which enshrines broad, overarching principles for protection of bank customers and enunciates the ‘five’ basic rights of bank customers. These are: (i) Right to Fair Treatment; (ii) Right to Transparency; Fair and Honest Dealing; (iii) Right to Suitability; (iv) Right to Privacy; and (v) Right to Grievance Redress and Compensation. The Reserve Bank has also advised the Indian Banks’ Association (IB
ਨਵੰ 27, 2014
Credit Card in the name of RBI : RBI cautions Once More about the Newest Kind of Fraud perpetrated in its Name
The Reserve Bank of India today issued one more alert to the public about the newest form of fraud perpetrated in its name - a credit card issued by fraudsters in the name of the Reserve Bank. Explaining the modus operandi, the Reserve Bank stated that the gullible member of the public is sent a credit card which allows withdrawal of money up to a certain limit, albeit a small sum, from a bank account. Having gained the confidence of the victim thus, the fraudster get
The Reserve Bank of India today issued one more alert to the public about the newest form of fraud perpetrated in its name - a credit card issued by fraudsters in the name of the Reserve Bank. Explaining the modus operandi, the Reserve Bank stated that the gullible member of the public is sent a credit card which allows withdrawal of money up to a certain limit, albeit a small sum, from a bank account. Having gained the confidence of the victim thus, the fraudster get
ਨਵੰ 24, 2014
RBI Cautions against Misuse of cancelled NBFC Certificate of Registration
It has come to the notice of the Reserve Bank of India that some entities/imposters, including companies, partnership firms, individuals, etc., are fraudulently impersonating as Non Banking Financial Companies (NBFCs) registered with the Reserve Bank of India, by forging the Certificate of Registration cancelled by Reserve Bank of India. It is understood that entities/imposters are promising loans to the needy public at attractive rates and collecting money from them
It has come to the notice of the Reserve Bank of India that some entities/imposters, including companies, partnership firms, individuals, etc., are fraudulently impersonating as Non Banking Financial Companies (NBFCs) registered with the Reserve Bank of India, by forging the Certificate of Registration cancelled by Reserve Bank of India. It is understood that entities/imposters are promising loans to the needy public at attractive rates and collecting money from them
ਸਤੰ 05, 2014
Supervisory College for ICICI Bank Ltd
The second Supervisory College for ICICI Bank Ltd. was held in Mumbai on September 04, 2014. Shri Harun R. Khan, Deputy Governor, Reserve Bank of India inaugurated the forum. The Reserve Bank of India had set up the first Supervisory College for ICICI Bank Ltd. in December, 2012. Shri Harun R. Khan in his address to the Supervisory College stated that the synergy which was developed among the Supervisors during the first Supervisory College of ICICI Bank Ltd. in Decem
The second Supervisory College for ICICI Bank Ltd. was held in Mumbai on September 04, 2014. Shri Harun R. Khan, Deputy Governor, Reserve Bank of India inaugurated the forum. The Reserve Bank of India had set up the first Supervisory College for ICICI Bank Ltd. in December, 2012. Shri Harun R. Khan in his address to the Supervisory College stated that the synergy which was developed among the Supervisors during the first Supervisory College of ICICI Bank Ltd. in Decem
ਸਤੰ 03, 2014
RBI sets up Supervisory Colleges for Axis Bank Ltd
The Reserve Bank of India set up the Supervisory College for Axis Bank Ltd. on September 03, 2014 in Mumbai. Shri R Gandhi, Deputy Governor, Reserve Bank of India inaugurated the College. Shri R Gandhi in his address stated that some of the Indian banks have started touching the lives of people and enterprises in overseas jurisdictions and have assumed a certain degree of relevance for the host nations’ economy. It casts upon the Reserve Bank as the home country super
The Reserve Bank of India set up the Supervisory College for Axis Bank Ltd. on September 03, 2014 in Mumbai. Shri R Gandhi, Deputy Governor, Reserve Bank of India inaugurated the College. Shri R Gandhi in his address stated that some of the Indian banks have started touching the lives of people and enterprises in overseas jurisdictions and have assumed a certain degree of relevance for the host nations’ economy. It casts upon the Reserve Bank as the home country super
ਅਗ 26, 2014
RBI’s Recent simplified KYC Measures For Public Awareness
The Reserve Bank of India today released a note along with a poster and a booklet comprising a few common questions relating to Know Your Customer (KYC) norms for opening bank accounts. The objective of this is to bring awareness among the general public about the KYC simplification measures taken by the Reserve Bank in the recent times with a view to helping the common man in opening bank accounts. Measures taken for simplification: 1. Single document for proof of id
The Reserve Bank of India today released a note along with a poster and a booklet comprising a few common questions relating to Know Your Customer (KYC) norms for opening bank accounts. The objective of this is to bring awareness among the general public about the KYC simplification measures taken by the Reserve Bank in the recent times with a view to helping the common man in opening bank accounts. Measures taken for simplification: 1. Single document for proof of id
ਅਗ 22, 2014
RBI seeks Comments on its Draft Charter of Customer Rights
The Reserve Bank of India today placed on RBI website. (www.rbi.org.in), a draft Charter of Customer Rights comprising five basic customer rights and explanatory notes on each right for public comments. The draft Charter of Customer Rights to deal with entities regulated by the Reserve Bank, has been framed based on global best practices of consumer protection as also discussions and interaction with various stakeholders. The Charter spells out the rights of the custo
The Reserve Bank of India today placed on RBI website. (www.rbi.org.in), a draft Charter of Customer Rights comprising five basic customer rights and explanatory notes on each right for public comments. The draft Charter of Customer Rights to deal with entities regulated by the Reserve Bank, has been framed based on global best practices of consumer protection as also discussions and interaction with various stakeholders. The Charter spells out the rights of the custo
ਅਗ 01, 2014
Do Not give Details of Your Bank Account or Credit/Debit Cards on Email/Phone: RBI Warns Public Again on Phishing Mails/Calls
Of late, some new methods of frauds have come to the notice of the Reserve Bank of India. An e-mail is sent in the name of a senior official of the Reserve Bank of India which gives an impression of it having been sent from the Reserve Bank and at times even displays the official rbi.org.in extension. The e-mail states that the Reserve Bank has received a large sum of foreign currency from the World Bank or a well-known international institution or a multi-national co
Of late, some new methods of frauds have come to the notice of the Reserve Bank of India. An e-mail is sent in the name of a senior official of the Reserve Bank of India which gives an impression of it having been sent from the Reserve Bank and at times even displays the official rbi.org.in extension. The e-mail states that the Reserve Bank has received a large sum of foreign currency from the World Bank or a well-known international institution or a multi-national co
ਜੁਲਾ 17, 2014
Issue of ₹ 10 coins to commemorate the occasion of "Diamond Jubilee of Coir Board"
The Government of India has minted the above mentioned coins which the Reserve Bank of India will shortly put into circulation. Details regarding design, shape, etc. of these coins have been notified in the following Gazette of the Government of India, dated February 20, 2014 published by the Ministry of Finance, Department of Economic Affairs- The Gazette of India-Extraordinary- Part II-Section 3-Sub-section (i) - No.76 (annexed) These coins are legal tender as provi
The Government of India has minted the above mentioned coins which the Reserve Bank of India will shortly put into circulation. Details regarding design, shape, etc. of these coins have been notified in the following Gazette of the Government of India, dated February 20, 2014 published by the Ministry of Finance, Department of Economic Affairs- The Gazette of India-Extraordinary- Part II-Section 3-Sub-section (i) - No.76 (annexed) These coins are legal tender as provi
ਜੂਨ 23, 2014
RBI announces Timelines for Regulatory Approvals and Citizens’ Charter for Delivery of Services
The Reserve Bank of India (RBI) today released on its website the ‘Timelines for Regulatory Approvals’ and ‘Citizens’ Charter’ for delivery of services as part of implementation of the non-legislative recommendations of the Financial Sector Legislative Reforms Commission (FSLRC). These timelines are indicative. If departments are likely to exceed the timeline, they will revert to the applicant. In case an applicant does not get a response within the indicated timeline
The Reserve Bank of India (RBI) today released on its website the ‘Timelines for Regulatory Approvals’ and ‘Citizens’ Charter’ for delivery of services as part of implementation of the non-legislative recommendations of the Financial Sector Legislative Reforms Commission (FSLRC). These timelines are indicative. If departments are likely to exceed the timeline, they will revert to the applicant. In case an applicant does not get a response within the indicated timeline
ਮਈ 26, 2014
RBI warns about Fake Website in its Name
It has come to the notice of the Reserve Bank of India today that a fake website has been created at http://www.rbi-inonline.org/savings.html by some unknown persons offering various banking facilities and asking members of public to apply on-line for opening “RBI Savings Account”. The Reserve Bank clarifies that as India’s central bank, the Reserve Bank of India does not offer services offered by commercial banks, such as, savings bank account, current bank account o
It has come to the notice of the Reserve Bank of India today that a fake website has been created at http://www.rbi-inonline.org/savings.html by some unknown persons offering various banking facilities and asking members of public to apply on-line for opening “RBI Savings Account”. The Reserve Bank clarifies that as India’s central bank, the Reserve Bank of India does not offer services offered by commercial banks, such as, savings bank account, current bank account o
ਜਨ 31, 2014
Annual Conference of Banking Ombudsmen 2014
The Annual Banking Ombudsmen Conference was held at the Reserve Bank of India, Mumbai on January 30, 2014 and was inaugurated by Dr. Raghuram G. Rajan, Governor, Reserve Bank of India. The Governor delivered the keynote address and expressed that customer protection is at the core of the central Banks’ concerns. He released the Annual Report of the Banking Ombudsman Scheme for year 2012-2013. The Annual Report contains the highlights of the performance of 15 Offices o
The Annual Banking Ombudsmen Conference was held at the Reserve Bank of India, Mumbai on January 30, 2014 and was inaugurated by Dr. Raghuram G. Rajan, Governor, Reserve Bank of India. The Governor delivered the keynote address and expressed that customer protection is at the core of the central Banks’ concerns. He released the Annual Report of the Banking Ombudsman Scheme for year 2012-2013. The Annual Report contains the highlights of the performance of 15 Offices o
ਜਨ 24, 2014
Banknotes issued prior to 2005 to be withdrawn – RBI Clarification
Further to our Press Release dated January 22, 2014 on the subject and in response to the queries raised, the Reserve Bank of India (RBI) clarifies that the rationale behind its move to withdraw banknotes printed prior to 2005 is to remove these banknotes from the market because they have fewer security features compared to banknotes printed after 2005. It is standard international practice to withdraw old series notes. The RBI has already been withdrawing these bank
Further to our Press Release dated January 22, 2014 on the subject and in response to the queries raised, the Reserve Bank of India (RBI) clarifies that the rationale behind its move to withdraw banknotes printed prior to 2005 is to remove these banknotes from the market because they have fewer security features compared to banknotes printed after 2005. It is standard international practice to withdraw old series notes. The RBI has already been withdrawing these bank
ਜਨ 22, 2014
Banknotes issued prior to 2005 to be withdrawn: RBI Advisory
The Reserve Bank of India has today advised that after March 31, 2014, it will completely withdraw from circulation all banknotes issued prior to 2005. From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication. The Reserve Bank further stated that public can easily identify the notes to be withdrawn as the notes issued before 2005 do not have on them th
The Reserve Bank of India has today advised that after March 31, 2014, it will completely withdraw from circulation all banknotes issued prior to 2005. From April 1, 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication. The Reserve Bank further stated that public can easily identify the notes to be withdrawn as the notes issued before 2005 do not have on them th
ਦਸੰ 24, 2013
RBI cautions users of Virtual Currencies against Risks
The Reserve Bank of India has today cautioned the users, holders and traders of Virtual currencies (VCs), including Bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to. The Reserve Bank has mentioned that it has been looking at the developments relating to certain electronic records claimed to be “Decentralised Digital Currency” or “Virtual Currency” (VCs), such as, Bitcoins,
The Reserve Bank of India has today cautioned the users, holders and traders of Virtual currencies (VCs), including Bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to. The Reserve Bank has mentioned that it has been looking at the developments relating to certain electronic records claimed to be “Decentralised Digital Currency” or “Virtual Currency” (VCs), such as, Bitcoins,
ਨਵੰ 12, 2013
RBI’s Financial Literacy Material for Bankers Now in Regional Languages
The Reserve Bank of India (RBI) today released financial literacy material consisting of financial literacy guide, financial diary and a set of 16 posters for use by banks and all other stakeholders in four regional languages, namely, Bengali, Kannada, Telugu and Urdu. The Reserve Bank has advised banks to use the financial literacy material while conducting camps as per the operational guidelines issued by the Reserve Bank on January 31, 2013. At that time, the Reser
The Reserve Bank of India (RBI) today released financial literacy material consisting of financial literacy guide, financial diary and a set of 16 posters for use by banks and all other stakeholders in four regional languages, namely, Bengali, Kannada, Telugu and Urdu. The Reserve Bank has advised banks to use the financial literacy material while conducting camps as per the operational guidelines issued by the Reserve Bank on January 31, 2013. At that time, the Reser
ਅਕਤੂ 24, 2013
Reserve Bank of India appoints the GIRO Advisory Group (GAG)
The Reserve Bank of India has announced the constitution of a GIRO Advisory Group (GAG) to implement a national GIRO-based Indian Bill Payment System such that households will be able to use bank accounts to pay school fees, utilities, medical bills and make remittances electronically. The terms of reference of the GAG are: i .Suggesting the nature of organization to undertake the GIRO based bill payments-either existing organization(s) or formation of new organizatio
The Reserve Bank of India has announced the constitution of a GIRO Advisory Group (GAG) to implement a national GIRO-based Indian Bill Payment System such that households will be able to use bank accounts to pay school fees, utilities, medical bills and make remittances electronically. The terms of reference of the GAG are: i .Suggesting the nature of organization to undertake the GIRO based bill payments-either existing organization(s) or formation of new organizatio
ਸਤੰ 19, 2013
Carrying of INR 10,000 by Non-residents and Residents : RBI Clarifies
In terms of instructions issued vide A.P. (Dir Series) circular No.45 dated September 16, 2013, the Reserve Bank of India had facilitated encashment of rupees into convertible currencies even beyond Immigration/Customs desk. This instruction has been misreported in certain sections of the media as a new restriction imposed by the Reserve Bank. The Reserve Bank issues the following clarifications in this regard: (1) A non-resident is currently not allowed to carry Indi
In terms of instructions issued vide A.P. (Dir Series) circular No.45 dated September 16, 2013, the Reserve Bank of India had facilitated encashment of rupees into convertible currencies even beyond Immigration/Customs desk. This instruction has been misreported in certain sections of the media as a new restriction imposed by the Reserve Bank. The Reserve Bank issues the following clarifications in this regard: (1) A non-resident is currently not allowed to carry Indi
ਸਤੰ 11, 2013
Respect Your Banknotes : RBI appeals to Public
The Reserve Bank of India today appealed to members of public not to use banknotes for making garlands, decorating pandals and places of worship or for showering on personalities in social events, etc. Such actions deface the banknotes and shorten their life, the Reserve Bank stated and added that banknotes should be respected as they are a symbol of the Sovereign and public should not misuse them and help in increasing the life of banknotes. The Reserve Bank has also
The Reserve Bank of India today appealed to members of public not to use banknotes for making garlands, decorating pandals and places of worship or for showering on personalities in social events, etc. Such actions deface the banknotes and shorten their life, the Reserve Bank stated and added that banknotes should be respected as they are a symbol of the Sovereign and public should not misuse them and help in increasing the life of banknotes. The Reserve Bank has also
ਅਗ 29, 2013
Issue of ₹ 10 coins to commemorate the occasion of "Silver Jubilee of Shri Mata Vaishno Devi Shrine Board"
The Government of India has minted the above mentioned coins which the Reserve Bank of India will shortly put into circulation. Details regarding design, shape, etc. of these coins have been notified in the following Gazette of the Government of India, dated September 14, 2012 published by the Ministry of Finance, Department of Economic Affairs- The Gazette of India-Extraordinary- part II-Section 3-sub-section (i)-Issue No.458 (annexed) These coins are legal tender as
The Government of India has minted the above mentioned coins which the Reserve Bank of India will shortly put into circulation. Details regarding design, shape, etc. of these coins have been notified in the following Gazette of the Government of India, dated September 14, 2012 published by the Ministry of Finance, Department of Economic Affairs- The Gazette of India-Extraordinary- part II-Section 3-sub-section (i)-Issue No.458 (annexed) These coins are legal tender as
ਅਗ 28, 2013
Dr. D. Subbarao, Governor, RBI appealed to the banks to reach out in Hindi and other vernacular languages for meaningful Financial Inclusion and Financial Literacy
"Financial inclusion and financial literacy are priority programmes for the Reserve Bank. I am happy to note that banks have been implementing these initiatives with enthusiasm, vigour and imagination. One lesson of experience in this regard has been that we cannot meaningfully pursue financial inclusion and financial literacy by using English as the medium of communication. We necessarily have to reach out in Hindi and other vernacular languages." Dr. D. Subbarao, Go
"Financial inclusion and financial literacy are priority programmes for the Reserve Bank. I am happy to note that banks have been implementing these initiatives with enthusiasm, vigour and imagination. One lesson of experience in this regard has been that we cannot meaningfully pursue financial inclusion and financial literacy by using English as the medium of communication. We necessarily have to reach out in Hindi and other vernacular languages." Dr. D. Subbarao, Go
ਅਗ 17, 2013
PM Releases Fourth Volume of RBI History (1981-1997)
Dr. Manmohan Singh, the Hon’ble Prime Minister, released the fourth volume of the Reserve Bank of India's history at a function held today in New Delhi. Jointly published by the Reserve Bank and the Academic Foundation, the volume covers the momentous 16-year period from 1981 to 1997. With this volume, the Reserve Bank of India has now updated its history up to 1997. The Reserve Bank had initiated the process of preparation of this volume in 2009 under the guidance of
Dr. Manmohan Singh, the Hon’ble Prime Minister, released the fourth volume of the Reserve Bank of India's history at a function held today in New Delhi. Jointly published by the Reserve Bank and the Academic Foundation, the volume covers the momentous 16-year period from 1981 to 1997. With this volume, the Reserve Bank of India has now updated its history up to 1997. The Reserve Bank had initiated the process of preparation of this volume in 2009 under the guidance of
ਅਗ 14, 2013
RBI announces measures to rationalise Foreign Exchange Outflows by Resident Indians
Keeping in view the current macroeconomic situation, the Reserve Bank of India has today announced the following measures: (i) Reduced the limit for Overseas Direct Investment (ODI) under automatic route for all fresh ODI transactions, from 400% of the net worth of an Indian Party to 100% of its net worth. This reduced limit would also apply to remittances made under the ODI scheme by Indian Companies for setting up unincorporated entities outside India in the energy
Keeping in view the current macroeconomic situation, the Reserve Bank of India has today announced the following measures: (i) Reduced the limit for Overseas Direct Investment (ODI) under automatic route for all fresh ODI transactions, from 400% of the net worth of an Indian Party to 100% of its net worth. This reduced limit would also apply to remittances made under the ODI scheme by Indian Companies for setting up unincorporated entities outside India in the energy
ਭਾਰਤੀ ਰਿਜ਼ਰਵ ਬੈਂਕ ਮੋਬਾਈਲ ਐਪਲੀਕੇਸ਼ਨ ਇੰਸਟਾਲ ਕਰੋ ਅਤੇ ਨਵੀਨਤਮ ਖਬਰਾਂ ਤੱਕ ਤੇਜ਼ ਐਕਸੈਸ ਪ੍ਰਾਪਤ ਕਰੋ!
ਪੇਜ ਅੰਤਿਮ ਅੱਪਡੇਟ ਦੀ ਤਾਰੀਖ: ਜੁਲਾਈ 29, 2025
