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مارچ 07, 2018
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 Alwar Urban Co-operative Bank Ltd., Alwar (Rajasthan)
It is hereby notified for the information of the public that in exercise of powers vested in it under sub-section (1) of section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) is satisfied that in public interest it is necessary to extend the period of operation of Directions issued to Alwar Urban Co-operative Bank Ltd., Alwar (Rajasthan) vide its directive dated March 01, 2017, effective from March 8, 2017 which were ex
It is hereby notified for the information of the public that in exercise of powers vested in it under sub-section (1) of section 35 A read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) is satisfied that in public interest it is necessary to extend the period of operation of Directions issued to Alwar Urban Co-operative Bank Ltd., Alwar (Rajasthan) vide its directive dated March 01, 2017, effective from March 8, 2017 which were ex
مارچ 06, 2018
RBI extends validity of the Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh
The Reserve Bank of India (RBI) has extended the Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh for a further period of four months from March 07, 2018 to July 06, 2018, subject to review. The bank has been under directions since July 07, 2015 vide directive dated June 30, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive has been modified / its validity extended vide RBI dir
The Reserve Bank of India (RBI) has extended the Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh for a further period of four months from March 07, 2018 to July 06, 2018, subject to review. The bank has been under directions since July 07, 2015 vide directive dated June 30, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive has been modified / its validity extended vide RBI dir
مارچ 05, 2018
RBI imposes Monetary Penalty on Axis Bank Limited
The Reserve Bank of India (RBI) has imposed, on February 27, 2018, a monetary penalty of ₹ 30 million on Axis Bank Limited (the bank) for non-compliance with the directions issued by RBI on Income Recognition and Asset Classification (IRAC) 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
The Reserve Bank of India (RBI) has imposed, on February 27, 2018, a monetary penalty of ₹ 30 million on Axis Bank Limited (the bank) for non-compliance with the directions issued by RBI on Income Recognition and Asset Classification (IRAC) 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
مارچ 05, 2018
RBI imposes Monetary Penalty on Indian Overseas Bank
The Reserve Bank of India (RBI) has imposed, on February 27, 2018, a monetary penalty of ₹ 20 million on Indian Overseas Bank (the bank) 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 the aforesaid directio
The Reserve Bank of India (RBI) has imposed, on February 27, 2018, a monetary penalty of ₹ 20 million on Indian Overseas Bank (the bank) 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 the aforesaid directio
فروری 28, 2018
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – The Maratha Sahakari Bank Ltd, Mumbai, Maharashtra
The Maratha Sahakari Bank Ltd, Mumbai, Maharashtra, was placed under directions from close of business on August 31, 2016 vide directive dated August 31, 2016, The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive dated August 28, 2017 and was valid upto February 28, 2018 subject to review. It is hereby notified for the information of the public that , the Reserve Bank of India, in exercise of powers vested
The Maratha Sahakari Bank Ltd, Mumbai, Maharashtra, was placed under directions from close of business on August 31, 2016 vide directive dated August 31, 2016, The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive dated August 28, 2017 and was valid upto February 28, 2018 subject to review. It is hereby notified for the information of the public that , the Reserve Bank of India, in exercise of powers vested
فروری 27, 2018
The Kuppam Co-operative Town Bank Ltd., Kuppam, Andhra Pradesh – Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 0.50 lakh (Rupees Fifty thousand only) on The Kuppam Co-operative Town Bank Ltd., Kuppam, 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 Reserve Bank of India directives and guidelines on loans and advances to directors and their relativ
The Reserve Bank of India has imposed a monetary penalty of ₹ 0.50 lakh (Rupees Fifty thousand only) on The Kuppam Co-operative Town Bank Ltd., Kuppam, 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 Reserve Bank of India directives and guidelines on loans and advances to directors and their relativ
فروری 27, 2018
RBI penalised The Ramakrishna Mutually Aided Co-operative Urban Bank Ltd., Nidadavole, Andhra Pradesh
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on The Ramakrishna Mutually Aided Co-operative Urban Bank Ltd., Nidadavole, 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 Reserve Bank of India directives and guidelines on loans and advances to director
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on The Ramakrishna Mutually Aided Co-operative Urban Bank Ltd., Nidadavole, 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 Reserve Bank of India directives and guidelines on loans and advances to director
فروری 23, 2018
The Reserve Bank introduces Ombudsman Scheme for Non-Banking Financial Companies
As announced in the Monetary Policy Statement of February 7, 2018, the Reserve Bank of India (RBI) today launched the Ombudsman Scheme for Non-Banking Financial Companies (NBFC) vide Notification dated February 23, 2018 for redressal of complaints against NBFCs registered with RBI under Section 45-IA of the RBI Act, 1934. The Scheme will provide a cost-free and expeditious complaint redressal mechanism relating to deficiency in the services by NBFCs covered under the
As announced in the Monetary Policy Statement of February 7, 2018, the Reserve Bank of India (RBI) today launched the Ombudsman Scheme for Non-Banking Financial Companies (NBFC) vide Notification dated February 23, 2018 for redressal of complaints against NBFCs registered with RBI under Section 45-IA of the RBI Act, 1934. The Scheme will provide a cost-free and expeditious complaint redressal mechanism relating to deficiency in the services by NBFCs covered under the
فروری 22, 2018
Aditya Birla Idea Payments Bank Limited commences operations
Aditya Birla Idea Payments Bank Limited has commenced operations as a payments bank with effect from February 22, 2018. 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 payments bank in India. Aditya Birla Nuvo Limited, Mumbai was one of the 11 applicants which were issued in-principle approval for setting up a payments bank, as announced in the press release on August 19, 2015. Ashi
Aditya Birla Idea Payments Bank Limited has commenced operations as a payments bank with effect from February 22, 2018. 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 payments bank in India. Aditya Birla Nuvo Limited, Mumbai was one of the 11 applicants which were issued in-principle approval for setting up a payments bank, as announced in the press release on August 19, 2015. Ashi
فروری 21, 2018
Minutes of the Monetary Policy Committee Meeting February 6-7, 2018
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The ninth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the amended Reserve Bank of India Act, 1934, was held on February 6 and 7, 2018 at the Reserve Bank of India, Mumbai. 2. The meeting was attended by all the members - Dr. Chetan Ghate, Professor, Indian Statistical Institute; Dr. Pami Dua, Director, Delhi School of Economics; Dr. Ravindra H. Dholakia, Professor, Indian
[Under Section 45ZL of the Reserve Bank of India Act, 1934] The ninth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the amended Reserve Bank of India Act, 1934, was held on February 6 and 7, 2018 at the Reserve Bank of India, Mumbai. 2. The meeting was attended by all the members - Dr. Chetan Ghate, Professor, Indian Statistical Institute; Dr. Pami Dua, Director, Delhi School of Economics; Dr. Ravindra H. Dholakia, Professor, Indian

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