The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two lakh only) on Tirumala 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 following Reserve Bank of India directives and guidelines on :- Loans and advances to directors and their rel

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect. Consequently, the reverse repo rate under the LAF stands adjusted to 5.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25 per cent. The

The Reserve Bank of India has imposed a monetary penalty of ₹ 20,000/- (twenty thousand rupees only) on Nagar Sahkari Bank Ltd., Etawah in exercise of powers vested in it under the provisions of Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of RBI Instructions/Guidelines on KYC/AML Measures and Section 26A of Banking Regulation Act, 1949 (AACS). The Reserve Bank of India had issue

The CKP Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions vide directive UBD.CO.BSD-I. No.D-34/12.22.035/2013-14 dated April 30, 2014, from close of business on May 2, 2014. The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive DCBR.CO.AID.No.D-27/12.22.035/2016-17 dated January 27, 2017 and was valid upto July 31, 2017 subject to review. 2. It is hereby notified for the information of

The Reserve Bank of India (RBI) has imposed, on July 26, 2017, a monetary penalty of ₹ 20 million on Union Bank of India for non-compliance with the directions issued by RBI on Know Your Customer (KYC) norms. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to certain directions issued by RBI. This

Effective 31st July 2017, the distribution of portfolios amongst the Deputy Governors will be the following: Name Departments Shri N.S.Vishwanathan 1. Co-ordination 2. Department of Banking Regulation (DBR) 3. Department of Communication (DoC) 4. Department of Co-operative Banking Regulation (DCBR) 5. Department of Non-Banking Regulation (DNBR) 6. Department of Banking Supervision (DBS) 7. Department of Co-operative Banking Supervision (DCBS) 8. Department of Non-Bank

The Reserve Bank of India (RBI) has imposed, on July 26, 2017, a monetary penalty of ₹ 10 million on Union Bank of India for non-compliance with the directions issued by RBI on Know Your Customer (KYC) norms. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to certain directions issued by RBI. This

The Annual Conference of Banking Ombudsmen was held at Mumbai on July 25, 2017. Shri S S Mundra, Deputy Governor, Reserve Bank of India (RBI) inaugurated the Conference. In addition to the Banking Ombudsmen, the conference was attended by Chief Executives of SBI, ICICI Bank, HDFC Bank, PNB, Indian Bank Association (IBA), Banking Codes and Standards Board of India (BCSBI) and heads of concerned regulatory and supervisory departments of the RBI. The Deputy Governor (DG)

The Reserve Bank of India has extended Directions issued to the Hardoi Urban Co-operative Bank Ltd., Hardoi for a further period of two months from July 30, 2017 to September 29, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 29, 2016. The same has further been extended upto September 29, 2017 vide directive dated July 24, 2017. A copy of the directive dated July 24, 2017 is di

The Reserve Bank of India has extended Directions issued to the Mahamedha Urban Co-operative Bank Ltd., Ghaziabad, Uttar Pradesh for a further period of one month from July 30, 2017 to August 29, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 29, 2016. The same has further been extended upto August 29, 2017 vide directive dated July 26, 2017. A copy of the directive dated July