Press Releases - RBI - Reserve Bank of India
Press Releases
Sep 18, 2018
Nagar Sahkari Bank Ltd., Gorakhpur, Uttar Pradesh - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 2,00,000/- (₹ Two lakh only) on Nagar Sahkari Bank Ltd., Gorakhpur, Uttar Pradesh 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 Know Your Customer Norms. The Reserve Bank of India had issued a Show Cause Notice to the bank, in r
The Reserve Bank of India has imposed a monetary penalty of ₹ 2,00,000/- (₹ Two lakh only) on Nagar Sahkari Bank Ltd., Gorakhpur, Uttar Pradesh 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 Know Your Customer Norms. The Reserve Bank of India had issued a Show Cause Notice to the bank, in r
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Sep 18, 2018
National Urban Co-operative Bank Ltd., Bahraich - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 2,00,000/- (₹ Two lakh only) on National Urban Co-operative Bank Ltd., Bahraich 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 continuous non-submission of the returns u/s 27 of the Act ibid. 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 ₹ 2,00,000/- (₹ Two lakh only) on National Urban Co-operative Bank Ltd., Bahraich 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 continuous non-submission of the returns u/s 27 of the Act ibid. The Reserve Bank of India had issued a show cause notice to the bank, in response
Sep 17, 2018
RBI cancels Certificate of Registration of 27 NBFCs
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. Sl. No. Name of the Company Registered Office address of the Company CoR No Date of issue of CoR Date of Cancellation of CoR 1 Highseas Vyapaar Private Limited Room No. 4, Ground Floor, 8, Jashoda Mansion, Gazdhar Street, Chira Bazaar, Kalbadevi, Mumbai-400002 B - 13.0
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. Sl. No. Name of the Company Registered Office address of the Company CoR No Date of issue of CoR Date of Cancellation of CoR 1 Highseas Vyapaar Private Limited Room No. 4, Ground Floor, 8, Jashoda Mansion, Gazdhar Street, Chira Bazaar, Kalbadevi, Mumbai-400002 B - 13.0
Sep 15, 2018
RBI releases Handbook of Statistics on the Indian Economy 2017-18
Today, the Reserve Bank of India released its annual publication titled “Handbook of Statistics (HBS) on the Indian Economy 2017-18”. This publication, the twentieth in the series, disseminates time series data on various economic and financial indicators relating to the Indian economy. The current volume contains 242 statistical tables covering national income aggregates, output, prices, money, banking, financial markets, public finances, foreign trade and balance of
Today, the Reserve Bank of India released its annual publication titled “Handbook of Statistics (HBS) on the Indian Economy 2017-18”. This publication, the twentieth in the series, disseminates time series data on various economic and financial indicators relating to the Indian economy. The current volume contains 242 statistical tables covering national income aggregates, output, prices, money, banking, financial markets, public finances, foreign trade and balance of
Sep 12, 2018
RBI cancels Certificate of Registration of 30 NBFCs
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 Office Address CoR No. Issued On Cancellation Order Date 1 Exken Finance Private Limited 107, Jolly Bhavan No. 1,10, New Marine Lines, Mumbai-400020 13.01312 11-Nov-1999 03-Jul-2018 2 Mandhana Finlease Private Limited 40 Heera, Mani Ratan, B
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 Office Address CoR No. Issued On Cancellation Order Date 1 Exken Finance Private Limited 107, Jolly Bhavan No. 1,10, New Marine Lines, Mumbai-400020 13.01312 11-Nov-1999 03-Jul-2018 2 Mandhana Finlease Private Limited 40 Heera, Mani Ratan, B
Sep 12, 2018
RBI extends validity of the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh
The Reserve Bank of India (RBI) has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from September 12, 2018 to March 11, 2019, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified / its validity was extended vide RBI
The Reserve Bank of India (RBI) has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from September 12, 2018 to March 11, 2019, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified / its validity was extended vide RBI
Sep 07, 2018
Reserve Bank of India imposes monetary penalty on Bank of Maharashtra
The Reserve Bank of India (RBI) has, on August 30, 2018, imposed a monetary penalty of ₹ 10 million on Bank of Maharashtra (the bank) for contravention of the instructions contained in Master Circular on Fraud – Classification and Reporting issued by RBI. 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 delay on the part of
The Reserve Bank of India (RBI) has, on August 30, 2018, imposed a monetary penalty of ₹ 10 million on Bank of Maharashtra (the bank) for contravention of the instructions contained in Master Circular on Fraud – Classification and Reporting issued by RBI. 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 delay on the part of
Sep 07, 2018
Reserve Bank of India imposes monetary penalty on Union Bank of India
The Reserve Bank of India (RBI) has, on August 30, 2018, imposed a monetary penalty of ₹ 10 million on Union Bank of India (the bank) for contravention of instructions contained in Master Circular on Fraud – Classification and Reporting issued by RBI. 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 delay on the part of the
The Reserve Bank of India (RBI) has, on August 30, 2018, imposed a monetary penalty of ₹ 10 million on Union Bank of India (the bank) for contravention of instructions contained in Master Circular on Fraud – Classification and Reporting issued by RBI. 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 delay on the part of the
Sep 07, 2018
RBI imposes penalty on Konark Urban Co-operative Bank Limited, Thane, Maharashtra
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees five lakh only) on Konark Urban Co-operative Bank Limited, Thane, Maharashtra in exercise of the powers vested in it under the provisions of Section 47A (1) read with Section 46 (4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violations of the instructions / guidelines of the Reserve Bank of India relating to Director Related Loans. The Reserve Bank o
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees five lakh only) on Konark Urban Co-operative Bank Limited, Thane, Maharashtra in exercise of the powers vested in it under the provisions of Section 47A (1) read with Section 46 (4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violations of the instructions / guidelines of the Reserve Bank of India relating to Director Related Loans. The Reserve Bank o
Sep 07, 2018
Reserve Bank of India imposes monetary penalty on Bank of India
The Reserve Bank of India (RBI) has, on August 30, 2018, imposed a monetary penalty of ₹ 10 million on Bank of India (the bank) for contravention of the instructions contained in Master Circular on Fraud – Classification and Reporting issued by RBI. 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 delay on the part of the ba
The Reserve Bank of India (RBI) has, on August 30, 2018, imposed a monetary penalty of ₹ 10 million on Bank of India (the bank) for contravention of the instructions contained in Master Circular on Fraud – Classification and Reporting issued by RBI. 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 delay on the part of the ba
Sep 03, 2018
RBI cancels Certificate of Registration of 33 NBFCs
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 Office Address CoR No. Date of CoR Date of cancellation of CoR 1 Ankur Finstock Private Limited 419, Ajanta Sopping Center Ring Road,Surat – 395002 Gujarat B.01.00334 October 09, 2000 July 18, 2018 2 Ashit Leasing and Finance Company Private
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 Office Address CoR No. Date of CoR Date of cancellation of CoR 1 Ankur Finstock Private Limited 419, Ajanta Sopping Center Ring Road,Surat – 395002 Gujarat B.01.00334 October 09, 2000 July 18, 2018 2 Ashit Leasing and Finance Company Private
Sep 03, 2018
RBI extends Directions issued to Rupee Co-operative Bank Ltd., Pune
The Reserve Bank of India (vide directive DCBR.CO.AID/D-11/12.22.218/2018-19 dated August 28, 2018) has extended directions issued to Rupee Co-operative Bank Ltd., Pune, Maharashtra for a further period of three months from September 01, 2018 to November 30, 2018, subject to review. The directions were originally imposed from February 22, 2013 to August 21, 2013 and were extended on eight occasions for a period of six months each and five occasions for a period of thr
The Reserve Bank of India (vide directive DCBR.CO.AID/D-11/12.22.218/2018-19 dated August 28, 2018) has extended directions issued to Rupee Co-operative Bank Ltd., Pune, Maharashtra for a further period of three months from September 01, 2018 to November 30, 2018, subject to review. The directions were originally imposed from February 22, 2013 to August 21, 2013 and were extended on eight occasions for a period of six months each and five occasions for a period of thr
Sep 03, 2018
RBI cancels the licence of Bhilwara Mahila Urban Co-operative Bank Ltd., Bhilwara, Rajasthan
The Reserve Bank of India (RBI) has, vide order dated August 23, 2018 cancelled the licence of Bhilwara Mahila Urban Co-operative Bank Ltd., Bhilwara, Rajasthan to carry on banking business, with effect from the close of business on August 31, 2018. The Registrar of Co-operative Societies, Rajasthan has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the bank as: The bank do
The Reserve Bank of India (RBI) has, vide order dated August 23, 2018 cancelled the licence of Bhilwara Mahila Urban Co-operative Bank Ltd., Bhilwara, Rajasthan to carry on banking business, with effect from the close of business on August 31, 2018. The Registrar of Co-operative Societies, Rajasthan has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the bank as: The bank do
Sep 03, 2018
The Reserve Bank introduces Internal Ombudsman Scheme, 2018 for Scheduled Commercial Banks
Reserve Bank of India (RBI) had, in May 2015, advised all public-sector and select private and foreign banks to appoint Internal Ombudsman (IO) as an independent authority to review complaints that were partially or wholly rejected by the respective banks. The IO mechanism was set up with a view to strengthen the internal grievance redressal system of banks and to ensure that the complaints of the customers are redressed at the level of the bank itself by an authority
Reserve Bank of India (RBI) had, in May 2015, advised all public-sector and select private and foreign banks to appoint Internal Ombudsman (IO) as an independent authority to review complaints that were partially or wholly rejected by the respective banks. The IO mechanism was set up with a view to strengthen the internal grievance redressal system of banks and to ensure that the complaints of the customers are redressed at the level of the bank itself by an authority
Aug 31, 2018
10 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. Welspun Finance Limited (Presently known as Welspun Tradewel Limited) Survey No.7
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. Welspun Finance Limited (Presently known as Welspun Tradewel Limited) Survey No.7
Aug 30, 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 February 26, 2018 and was valid upto August 31, 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 February 26, 2018 and was valid upto August 31, 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
Aug 30, 2018
RBI cancels Certificate of Registration of 30 NBFCs
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 Office Address CoR No. Issued On Cancellation Order Date 1. Deora Finance Pvt. Ltd. 31, Hariram Goenka Street, 1st Floor, Kolkata-700 007, West Bengal 05.01175 March 21, 1998 July 04, 2018 2. Kamdhenu Lefins Pvt. Ltd Unit-1/1 Vanasittart Row
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 Office Address CoR No. Issued On Cancellation Order Date 1. Deora Finance Pvt. Ltd. 31, Hariram Goenka Street, 1st Floor, Kolkata-700 007, West Bengal 05.01175 March 21, 1998 July 04, 2018 2. Kamdhenu Lefins Pvt. Ltd Unit-1/1 Vanasittart Row
Aug 29, 2018
RBI cancels Certificate of Registration of 30 NBFCs
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 Office Address CoR No. Issued On Cancellation Order Date 1. NIF Financiers Limited A-61, Flat No-1, Ground Floor, Gali No. 4, Madhu Vihar, Near Dilli Gate, New Delhi-110 092 B-06.00350 September 25, 2000 July 12, 2018 2. Corpus Polychem Ltd.
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 Office Address CoR No. Issued On Cancellation Order Date 1. NIF Financiers Limited A-61, Flat No-1, Ground Floor, Gali No. 4, Madhu Vihar, Near Dilli Gate, New Delhi-110 092 B-06.00350 September 25, 2000 July 12, 2018 2. Corpus Polychem Ltd.
Aug 28, 2018
Cancellation of Certificate of Authorisation - M/s Tech Mahindra Limited, Noida
The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company. Company's Name Registered Office address COA No. & Date Payment system authorised Date of cancellation Tech Mahindra Limited, Noida A-20, Sector 60, Noida 201 301. 59/2013 19.09.2013 P
The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company. Company's Name Registered Office address COA No. & Date Payment system authorised Date of cancellation Tech Mahindra Limited, Noida A-20, Sector 60, Noida 201 301. 59/2013 19.09.2013 P
Aug 27, 2018
RBI cancels Certificate of Registration of 30 NBFCs
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 Office Address CoR No. Issued On Cancellation Order Date 1. Pentafour Commotrade Private Limited 44, Chakreberia Road (South), Kolkata-700 025, West Bengal B.05.05432 February 20, 2003 June 01 2018 2. MKF Finance Limited MKF Complex, Eluru R
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 Office Address CoR No. Issued On Cancellation Order Date 1. Pentafour Commotrade Private Limited 44, Chakreberia Road (South), Kolkata-700 025, West Bengal B.05.05432 February 20, 2003 June 01 2018 2. MKF Finance Limited MKF Complex, Eluru R
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