Press Releases

The Reserve Bank of India (RBl) has, by an order dated March 13, 2025, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on Janata Sahakari Bank Ltd., Gondia, Maharashtra (the bank) for contravention of the provisions of Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.

As announced vide the Press Release 2024-2025/1933 dated January 15, 2025, the Reserve Bank will be conducting daily Variable Rate Repo (VRR) auctions on all working days in Mumbai with reversal taking place on the next working day, until further notice.

With a view to providing greater convenience to taxpayers, it has been decided to keep the branches of Agency banks, dealing with Government business, open for transactions on March 31, 2025 (Monday-Public Holiday). In order to facilitate accounting of Government receipts and payments in the current financial year itself, necessary arrangements have also been made to conduct special clearing operations across the country. Special clearing will be conducted for government cheques on March 31, 2025 for which the Department of Payment and Settlement Systems (DPSS), RBI will issue necessary instructions.

The Certificate of Registration issued to the following Non-Banking Financial Companies (NBFCs) has been restored after considering the orders passed by the Appellate Authority/Courts. These NBFCs are advised to adhere to the applicable provisions of the RBI Act, 1934, and guidelines/directions issued by the RBI including reporting requirements.

The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies. Sr. No. Name of the Company Registered Office Address CoR No. CoR Issued On Cancellation Order Date 1 Doyen Vyapaar Private Limited 8A & 8B, Satyam Towers 3, Alipore Road, Kolkata, West Bengal - 700027 05.00072 February 14, 1998 February 06, 2025

The following 3 Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.

The Reserve Bank of India (RBI) has, by an order dated March 12, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on Jogindra Central Co-operative Bank Ltd., Himachal Pradesh (the bank) for contravention of provisions of Section 20 read with Section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.

The Reserve Bank of India (RBI) has, by an order dated March 12, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Anantnag Central Co-operative Bank Ltd., Jammu and Kashmir (the bank) for non-compliance with specific directions issued by RBI prohibiting acceptance of fresh deposits. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated March 12, 2025, imposed a monetary penalty of ₹5.00 lakh (Rupees Five Lakh only) on The Baramulla Central Co-operative Bank Ltd., Jammu and Kashmir (the bank) for non-compliance with specific directions issued by RBI prohibiting acceptance of fresh deposits. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated March 12, 2025, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on The Gurdaspur Central Co-operative Bank Ltd., Gurdaspur, Punjab (the bank) for contravention of provisions of Section 20 read with Section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act.