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Press Releases
Jan 25, 2019
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - The R. S. Co-operative Bank Ltd., Mumbai, Maharashtra
The R.S. Co-operative Bank Ltd., Mumbai, Maharashtra, was placed under directions vide directive dated June 24, 2015, from close of business on June 26, 2015. The validity of the directions was extended and modified from time to time, the last being Directive dated July 02, 2018 and was valid upto January 25, 2019, subject to review. It is hereby notified for the information of the public that the Reserve Bank of India, in exercise of powers vested in it under sub-sec
The R.S. Co-operative Bank Ltd., Mumbai, Maharashtra, was placed under directions vide directive dated June 24, 2015, from close of business on June 26, 2015. The validity of the directions was extended and modified from time to time, the last being Directive dated July 02, 2018 and was valid upto January 25, 2019, subject to review. It is hereby notified for the information of the public that the Reserve Bank of India, in exercise of powers vested in it under sub-sec
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Jan 24, 2019
RBI issues Directions to Bhagyodaya Friends Urban Co-operative Bank Ltd, Warud, Dist. Amravati, Maharashtra
The Reserve Bank of India has issued Directions to Bhagyodaya Friends Urban Co-operative Bank Ltd, Warud, Dist. Amravati, Maharashtra for a period of six months with effect from close of business as on January 17, 2019. According to the Directions, Bhagyodaya Friends Urban Co-operative Bank Ltd, Warud, Dist. Amravati, shall not, without prior approval in writing from the Reserve Bank of India, grant or renew any loans and advances, make any investment, incur any liabi
The Reserve Bank of India has issued Directions to Bhagyodaya Friends Urban Co-operative Bank Ltd, Warud, Dist. Amravati, Maharashtra for a period of six months with effect from close of business as on January 17, 2019. According to the Directions, Bhagyodaya Friends Urban Co-operative Bank Ltd, Warud, Dist. Amravati, shall not, without prior approval in writing from the Reserve Bank of India, grant or renew any loans and advances, make any investment, incur any liabi
Jan 24, 2019
5 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. Overseas Tracom Pvt. Ltd. 7A Bentick Street, 1ST Floor, Room No. 103, Kolkata-700
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. Overseas Tracom Pvt. Ltd. 7A Bentick Street, 1ST Floor, Room No. 103, Kolkata-700
Jan 24, 2019
RBI cancels Certificate of Registration of 5 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. Ronnie Finance Limited 261, First Floor, Okhla Industrial Estate, Phase-III, New Delhi-110 020 B-14.02958 August 27, 2003 December 13, 2018 2
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. Ronnie Finance Limited 261, First Floor, Okhla Industrial Estate, Phase-III, New Delhi-110 020 B-14.02958 August 27, 2003 December 13, 2018 2
Jan 22, 2019
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - United Cooperative Bank Limited - Extension of Period
Reserve Bank of India, in public interest, had issued directions to United Co-operative Bank Limited, Bagnan Station Road (North), P.O-Bagnan, Dist. - Howrah, Pin-711303, West Bengal in exercise of its powers vested in it under sub-section (1) of Section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS) from the close of business on July 18, 2018 which was valid till January 18, 2019. Reserve Bank of India has now, in public interest, further extende
Reserve Bank of India, in public interest, had issued directions to United Co-operative Bank Limited, Bagnan Station Road (North), P.O-Bagnan, Dist. - Howrah, Pin-711303, West Bengal in exercise of its powers vested in it under sub-section (1) of Section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS) from the close of business on July 18, 2018 which was valid till January 18, 2019. Reserve Bank of India has now, in public interest, further extende
Jan 18, 2019
RBI cancels Certificate of Registration of 31 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. Panther InvestTrade Ltd. 1st Floor, Radha Bhuvan, 121, Nagindas Master Road, Fort, Mumbai-400 023 13.01311 November 05, 1999 October 18, 2018
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. Panther InvestTrade Ltd. 1st Floor, Radha Bhuvan, 121, Nagindas Master Road, Fort, Mumbai-400 023 13.01311 November 05, 1999 October 18, 2018
Jan 18, 2019
4 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. Thacker & Co. Ltd. Jatia Chambers, 60, Dr. V.B. Gandhi Marg, Mumbai-400 001 13
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. Thacker & Co. Ltd. Jatia Chambers, 60, Dr. V.B. Gandhi Marg, Mumbai-400 001 13
Jan 16, 2019
Reserve Bank of India imposes monetary penalty on Bank of Maharashtra
The Reserve Bank of India (RBI) has imposed, by an order dated January 04, 2019, a monetary penalty of ₹10 million on Bank of Maharashtra (the bank) for non-compliance with Master Directions on Frauds-Classification and Reporting dated July 01, 2016 and Master Direction on Know Your Customer dated February 25, 2016 (updated as on July 08, 2016) issued by RBI. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A (1) (c)
The Reserve Bank of India (RBI) has imposed, by an order dated January 04, 2019, a monetary penalty of ₹10 million on Bank of Maharashtra (the bank) for non-compliance with Master Directions on Frauds-Classification and Reporting dated July 01, 2016 and Master Direction on Know Your Customer dated February 25, 2016 (updated as on July 08, 2016) issued by RBI. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A (1) (c)
Jan 14, 2019
RBI imposes monetary penalty on Bajaj Finance Ltd
The Reserve Bank of India (RBI) has imposed, by an order dated January 03, 2019, a monetary penalty of ₹ 10.0 million on Bajaj Finance Ltd. (the NBFC) for violation of Fair Practices Code of Master Direction DNBR. PD. 008/03.10.119/2016-17 dated September 01, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 58G(1)(b) read with sub-section 5(aa) of section 58B of the RBI Act, 1934. This action is based on deficienc
The Reserve Bank of India (RBI) has imposed, by an order dated January 03, 2019, a monetary penalty of ₹ 10.0 million on Bajaj Finance Ltd. (the NBFC) for violation of Fair Practices Code of Master Direction DNBR. PD. 008/03.10.119/2016-17 dated September 01, 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 58G(1)(b) read with sub-section 5(aa) of section 58B of the RBI Act, 1934. This action is based on deficienc
Jan 11, 2019
RBI Issues Directions to Sri Bharathi Co-operative Urban Bank Ltd., Hyderabad (Telangana)
The Reserve Bank of India is satisfied that in the interest of public, it is necessary to issue certain directions to Sri Bharathi Co-operative Urban Bank Ltd., Hyderabad. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949 hereby directs that Sri Bharathi Co-operative Urb
The Reserve Bank of India is satisfied that in the interest of public, it is necessary to issue certain directions to Sri Bharathi Co-operative Urban Bank Ltd., Hyderabad. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949 hereby directs that Sri Bharathi Co-operative Urb
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