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Official Website of Reserve Bank of India
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ਅਪ੍ਰੈ 20, 2017
RBI signs Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with the Bank of Guyana
The Reserve Bank of India signed a Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with Bank of Guyana. The MoU was signed by Dr Gobind N. Ganga, Governor on behalf of Bank of Guyana and Dr Urjit R. Patel, Governor on behalf of Reserve Bank of India. The Reserve Bank has entered into Memorandum of Understanding, Letter for Supervisory Co-operation and Statement of Co-operation with supervisors of a few countries t
The Reserve Bank of India signed a Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with Bank of Guyana. The MoU was signed by Dr Gobind N. Ganga, Governor on behalf of Bank of Guyana and Dr Urjit R. Patel, Governor on behalf of Reserve Bank of India. The Reserve Bank has entered into Memorandum of Understanding, Letter for Supervisory Co-operation and Statement of Co-operation with supervisors of a few countries t
ਅਪ੍ਰੈ 19, 2017
Au Small Finance Bank Limited commences operations
Au Small Finance Bank Limited has commenced operations as a small finance bank with effect from April 19, 2017. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India. Au Financiers (India) Limited, Jaipur was one of the ten applicants which were issued in-principle approval for setting up a small finance bank, as announced in the press release on September 16,
Au Small Finance Bank Limited has commenced operations as a small finance bank with effect from April 19, 2017. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India. Au Financiers (India) Limited, Jaipur was one of the ten applicants which were issued in-principle approval for setting up a small finance bank, as announced in the press release on September 16,
ਅਪ੍ਰੈ 18, 2017
RBI signs Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with the Royal Monetary Authority of Bhutan
The Reserve Bank of India signed a Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with the Royal Monetary Authority of Bhutan. The MoU was signed by Mr Phajo Dorjee, Deputy Governor on behalf of Royal Monetary Authority of Bhutan and Mr S S Mundra, Deputy Governor on behalf of Reserve Bank of India. The Reserve Bank has entered into Memorandam of Understanding, Letter for Supervisory Co-operation and Statement of
The Reserve Bank of India signed a Memorandum of Understanding (MoU) on “Supervisory Cooperation and Exchange of Supervisory Information” with the Royal Monetary Authority of Bhutan. The MoU was signed by Mr Phajo Dorjee, Deputy Governor on behalf of Royal Monetary Authority of Bhutan and Mr S S Mundra, Deputy Governor on behalf of Reserve Bank of India. The Reserve Bank has entered into Memorandam of Understanding, Letter for Supervisory Co-operation and Statement of
ਅਪ੍ਰੈ 18, 2017
RBI cancels Certificate of Registration of 4 NBFCs
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following four Non-Banking Financial Companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Company's Name Address of Registered Office Certificate of Registration No. Issued On Date of cancellation 1 M/s Mumbai Discount Finance Private Limited 202, Nadiadwala Market, Poddar Road, Malad (East), Mumbai – 40009
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following four Non-Banking Financial Companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Company's Name Address of Registered Office Certificate of Registration No. Issued On Date of cancellation 1 M/s Mumbai Discount Finance Private Limited 202, Nadiadwala Market, Poddar Road, Malad (East), Mumbai – 40009
ਅਪ੍ਰੈ 18, 2017
20 NBFCs surrender their Certificate of Registration to RBI
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1 M/s Akansha Consultancy Services Limited 705, Galav, Sayajigunj, Vadodara – 390005
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1 M/s Akansha Consultancy Services Limited 705, Galav, Sayajigunj, Vadodara – 390005
ਅਪ੍ਰੈ 18, 2017
RBI opens the Office of the Banking Ombudsman at Jammu
Considering the significant increase in banking network during the recent past and the large jurisdiction being covered by the current Office of the Banking Ombudsman, New Delhi-I, the Reserve Bank has set up an Office of the Banking Ombudsman for the State of Jammu and Kashmir at Reserve Bank of India, Jammu. The Office of the Banking Ombudsman at Reserve Bank of India, Jammu will have the jurisdiction over the entire State of Jammu and Kashmir which, hitherto was un
Considering the significant increase in banking network during the recent past and the large jurisdiction being covered by the current Office of the Banking Ombudsman, New Delhi-I, the Reserve Bank has set up an Office of the Banking Ombudsman for the State of Jammu and Kashmir at Reserve Bank of India, Jammu. The Office of the Banking Ombudsman at Reserve Bank of India, Jammu will have the jurisdiction over the entire State of Jammu and Kashmir which, hitherto was un
ਅਪ੍ਰੈ 17, 2017
RBI extends Directions issued to the HCBL Co-operative Bank Ltd., Lucknow
The Reserve Bank of India has extended directions issued to the HCBL Co-operative Bank Ltd., Lucknow for a further period of six months from April 16, 2017 to October 15, 2017, subject to review. The bank had been under directions since the close of business on April 16, 2015 vide directive dated April 10, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified and its validity extended upto April 15, 2017. The sa
The Reserve Bank of India has extended directions issued to the HCBL Co-operative Bank Ltd., Lucknow for a further period of six months from April 16, 2017 to October 15, 2017, subject to review. The bank had been under directions since the close of business on April 16, 2015 vide directive dated April 10, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified and its validity extended upto April 15, 2017. The sa
ਅਪ੍ਰੈ 17, 2017
RBI opens the Office of the Banking Ombudsman at Raipur
Considering the significant increase in banking network during the recent past and the large jurisdiction being covered by the current Office of the Banking Ombudsman, Bhopal, the Reserve Bank has set up an Office of the Banking Ombudsman for the State of Chhattisgarh at Reserve Bank of India, Raipur. The Office of the Banking Ombudsman at Reserve Bank of India, Raipur will have the jurisdiction over the entire State of Chhattisgarh which, hitherto was under the juris
Considering the significant increase in banking network during the recent past and the large jurisdiction being covered by the current Office of the Banking Ombudsman, Bhopal, the Reserve Bank has set up an Office of the Banking Ombudsman for the State of Chhattisgarh at Reserve Bank of India, Raipur. The Office of the Banking Ombudsman at Reserve Bank of India, Raipur will have the jurisdiction over the entire State of Chhattisgarh which, hitherto was under the juris
ਅਪ੍ਰੈ 14, 2017
Sovereign Gold Bond Scheme 2016 -17 – Series IV
The Reserve Bank of India, in consultation with Government of India, has decided to issue Sovereign Gold Bonds 2016-17 - Series IV. Applications for the bond will be accepted from February 27, 2017 to March 3, 2017. The Bonds will be issued on March 17, 2017. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated Post Offices, and recognised Stock Exchanges viz., National Stock Exchange of India Limited and Bombay Stock Ex
The Reserve Bank of India, in consultation with Government of India, has decided to issue Sovereign Gold Bonds 2016-17 - Series IV. Applications for the bond will be accepted from February 27, 2017 to March 3, 2017. The Bonds will be issued on March 17, 2017. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated Post Offices, and recognised Stock Exchanges viz., National Stock Exchange of India Limited and Bombay Stock Ex
ਅਪ੍ਰੈ 13, 2017
Sixth Bi-monthly Monetary Policy Statement, 2016-17 Resolution of the Monetary Policy Committee (MPC), Reserve Bank of India
On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. The decision of the MPC is consistent with a neutral
On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 per cent. Consequently, the reverse repo rate under the LAF remains unchanged at 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. The decision of the MPC is consistent with a neutral
ਅਪ੍ਰੈ 13, 2017
RBI extends Directions to Jamkhed Merchants Co-operative Bank Ltd., Ahmednagar, Maharashtra
Jamkhed Merchants Co-operative Bank Ltd., Ahmednagar, Maharashtra, was placed under directions for a period of six months vide directive dated April 07, 2016 from the close of business on April 12, 2016. The validity of the directions was extended for a period of six months from October 13, 2016 to April 12, 2017 vide directive dated October 06, 2016. The validity of the aforesaid directions has been further extended for a period of two months upto June 12, 2017 dated
Jamkhed Merchants Co-operative Bank Ltd., Ahmednagar, Maharashtra, was placed under directions for a period of six months vide directive dated April 07, 2016 from the close of business on April 12, 2016. The validity of the directions was extended for a period of six months from October 13, 2016 to April 12, 2017 vide directive dated October 06, 2016. The validity of the aforesaid directions has been further extended for a period of two months upto June 12, 2017 dated
ਅਪ੍ਰੈ 12, 2017
RBI announces draft guidelines of Simplified Hedging Facility for Residents and Non-Residents
The Reserve Bank of India today released draft guidelines of Simplified Hedging Facility for Residents and Non-Residents which permits dynamic hedging of currency risk and simplifies the procedure involved in booking hedge contracts. To monitor activity under this facility, banks and exchanges will report customer data to the Trade Repository on a regular basis. Comments on the draft guidelines are invited from banks, market participants and other interested parties b
The Reserve Bank of India today released draft guidelines of Simplified Hedging Facility for Residents and Non-Residents which permits dynamic hedging of currency risk and simplifies the procedure involved in booking hedge contracts. To monitor activity under this facility, banks and exchanges will report customer data to the Trade Repository on a regular basis. Comments on the draft guidelines are invited from banks, market participants and other interested parties b
ਅਪ੍ਰੈ 11, 2017
RBI announces Draft Framework on introduction of Tri-Party Repo
The Reserve Bank of India, today, released the draft framework on the introduction of Tri-Party Repo. Tri-party repo will enable market participants to use underlying collateral more efficiently and facilitate development of the term repo market in India. Draft directions allow introduction of tri-party repo on both Government securities and corporate bonds. Comments on the draft framework are invited from market participants by May 5, 2017. Comments may be emailed or
The Reserve Bank of India, today, released the draft framework on the introduction of Tri-Party Repo. Tri-party repo will enable market participants to use underlying collateral more efficiently and facilitate development of the term repo market in India. Draft directions allow introduction of tri-party repo on both Government securities and corporate bonds. Comments on the draft framework are invited from market participants by May 5, 2017. Comments may be emailed or
ਅਪ੍ਰੈ 11, 2017
RBI imposes Monetary Penalty on M/s Hinduja Leyland Finance Ltd
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹5 lakh on M/s Hinduja Leyland Finance Ltd. (the company) under section 58G(1)(b) read with sub-section 5(aa) of section 58B of the RBI Act, 1934 for violation of directions/orders issued by Reserve Bank of India from time to time. Background An inspection of books and accounts of the company as on March 31, 2015 was conducted under section 45N of Reserve Bank of India Act, 1934 (the RBI Act, 1934) betw
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹5 lakh on M/s Hinduja Leyland Finance Ltd. (the company) under section 58G(1)(b) read with sub-section 5(aa) of section 58B of the RBI Act, 1934 for violation of directions/orders issued by Reserve Bank of India from time to time. Background An inspection of books and accounts of the company as on March 31, 2015 was conducted under section 45N of Reserve Bank of India Act, 1934 (the RBI Act, 1934) betw
ਅਪ੍ਰੈ 11, 2017
RBI imposes Monetary Penalty on M/s Shriram City Union Finance Ltd
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹20 lakh on M/s Shriram City Union Finance Ltd. (the company) under section 58G(1)(b) read with sub-section 5(aa) of section 58B of the RBI Act, 1934 for violation of directions/orders issued by Reserve Bank of India from time to time. Background A scrutiny of sample loan accounts of the company was conducted under section 45N of Reserve Bank of India Act, 1934 (the RBI Act, 1934) during November, 2015.
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹20 lakh on M/s Shriram City Union Finance Ltd. (the company) under section 58G(1)(b) read with sub-section 5(aa) of section 58B of the RBI Act, 1934 for violation of directions/orders issued by Reserve Bank of India from time to time. Background A scrutiny of sample loan accounts of the company was conducted under section 45N of Reserve Bank of India Act, 1934 (the RBI Act, 1934) during November, 2015.
ਅਪ੍ਰੈ 07, 2017
RBI releases Discussion Paper on ‘Wholesale & Long-Term Finance Banks’
The Reserve Bank of India today released on its website a Discussion Paper on ‘Wholesale & Long-Term Finance Banks’. The discussion paper explores the scope for setting up more differentiated banks, specifically wholesale & long-term finance banks in the context of having issued in-principle approvals and licences to set up differentiated banks, such as, payments banks and small finance banks. As envisaged in the discussion paper, the Wholesale and Long-Term F
The Reserve Bank of India today released on its website a Discussion Paper on ‘Wholesale & Long-Term Finance Banks’. The discussion paper explores the scope for setting up more differentiated banks, specifically wholesale & long-term finance banks in the context of having issued in-principle approvals and licences to set up differentiated banks, such as, payments banks and small finance banks. As envisaged in the discussion paper, the Wholesale and Long-Term F
ਅਪ੍ਰੈ 06, 2017
First Bi-monthly Monetary Policy Statement, 2017-18 Resolution of the Monetary Policy Committee (MPC) Reserve Bank of India
On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 per cent. Consequent upon the narrowing of the LAF corridor as elaborated in the accompanying Statement on Developmental and Regulatory Policies, the reverse repo rate under the LAF is at 6.0 per cent, and the marginal standing fa
On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.25 per cent. Consequent upon the narrowing of the LAF corridor as elaborated in the accompanying Statement on Developmental and Regulatory Policies, the reverse repo rate under the LAF is at 6.0 per cent, and the marginal standing fa
ਅਪ੍ਰੈ 06, 2017
Statement on Developmental and Regulatory Policies, Reserve Bank of India
This Statement reviews the progress of various developmental and regulatory policy measures announced by the Reserve Bank in recent policy statements and sets out new measures for further refining the liquidity management framework; strengthening the banking regulation and supervision; broadening and deepening financial markets; and extending the reach of financial services by enhancing the efficacy of the payment and settlement systems. I. Liquidity Management Framew
This Statement reviews the progress of various developmental and regulatory policy measures announced by the Reserve Bank in recent policy statements and sets out new measures for further refining the liquidity management framework; strengthening the banking regulation and supervision; broadening and deepening financial markets; and extending the reach of financial services by enhancing the efficacy of the payment and settlement systems. I. Liquidity Management Framew
ਅਪ੍ਰੈ 05, 2017
RBI appoints Smt. Malvika Sinha as New Executive Director
The Reserve Bank of India has appointed Smt. Malvika Sinha as Executive Director (ED) consequent upon appointment of Shri B P Kanungo as Deputy Governor on April 03, 2017. Smt. Malvika Sinha took charge on April 03, 2017. As Executive Director Smt. Sinha will look after Foreign Exchange Department, Department of Government and Bank Accounts and Internal Debt Management Department. Smt. Malvika Sinha holds a Masters Degree from University of Bombay and has done her Mas
The Reserve Bank of India has appointed Smt. Malvika Sinha as Executive Director (ED) consequent upon appointment of Shri B P Kanungo as Deputy Governor on April 03, 2017. Smt. Malvika Sinha took charge on April 03, 2017. As Executive Director Smt. Sinha will look after Foreign Exchange Department, Department of Government and Bank Accounts and Internal Debt Management Department. Smt. Malvika Sinha holds a Masters Degree from University of Bombay and has done her Mas
ਅਪ੍ਰੈ 03, 2017
Shri B.P. Kanungo appointed as RBI Deputy Governor
Shri B.P. Kanungo took over as the Deputy Governor of the Reserve Bank of India today. The Government of India, on March 11, 2017 has appointed him as the Deputy Governor of the Reserve Bank of India, for a period of three years from the date of his taking over charge of the post on or after April 3, 2017 or until further orders, whichever is earlier. Shri Kanungo was Executive Director of the Reserve Bank before being elevated to the post of Deputy Governor. As Deput
Shri B.P. Kanungo took over as the Deputy Governor of the Reserve Bank of India today. The Government of India, on March 11, 2017 has appointed him as the Deputy Governor of the Reserve Bank of India, for a period of three years from the date of his taking over charge of the post on or after April 3, 2017 or until further orders, whichever is earlier. Shri Kanungo was Executive Director of the Reserve Bank before being elevated to the post of Deputy Governor. As Deput
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