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Press Releases
Apr 16, 2018
7 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. M/s Radiant Holdings Pvt. Ltd. Mehta Mahal, 11th Floor, 15, Mathew Road, Opera Ho
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. M/s Radiant Holdings Pvt. Ltd. Mehta Mahal, 11th Floor, 15, Mathew Road, Opera Ho
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Apr 13, 2018
HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh - Withdrawal of Directions issued by the Reserve Bank of India
The Reserve Bank of India (RBI) had issued directions under Section 35A of the Banking Regulation Act, 1949 (as applicable to co-operative societies) to HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh vide directive dated April 10, 2015. Directions imposed were extended and modified from time to time, last being up to April 15, 2018 vide Directive dated October 09, 2017. Reserve Bank, on being satisfied that in the public interest it is necessary to do so, in exer
The Reserve Bank of India (RBI) had issued directions under Section 35A of the Banking Regulation Act, 1949 (as applicable to co-operative societies) to HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh vide directive dated April 10, 2015. Directions imposed were extended and modified from time to time, last being up to April 15, 2018 vide Directive dated October 09, 2017. Reserve Bank, on being satisfied that in the public interest it is necessary to do so, in exer
Apr 11, 2018
Reserve Bank of India imposes monetary penalty on IDBI Bank Limited
The Reserve Bank of India (RBI) has imposed, through an order dated April 09, 2018, a monetary penalty of ₹ 30 million on IDBI 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
The Reserve Bank of India (RBI) has imposed, through an order dated April 09, 2018, a monetary penalty of ₹ 30 million on IDBI 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
Apr 10, 2018
Cancellation of Certificate of Registration of NBFC
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 company. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1. M/s Ashlip Securities Private Limited IX/437, Mattackal Buildings, Kadapara, Mannar P.O. Kerala 689621 B-16.00080 June 01, 2000 March 20, 2018 As such, the above company shall not tra
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 company. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1. M/s Ashlip Securities Private Limited IX/437, Mattackal Buildings, Kadapara, Mannar P.O. Kerala 689621 B-16.00080 June 01, 2000 March 20, 2018 As such, the above company shall not tra
Apr 09, 2018
RBI cancels Certificate of Registration of 5 NBFCs
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following five Non-Banking Financial Companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Company's Name Address of Registered Office Certificate of Registration No. Issued On Date of cancellation 1 M/s Trupti Finance Private Limited 306, Sarthik Complex, Near Fun Republic, Satellite, Ahmedabad-380 015, Guj
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following five Non-Banking Financial Companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Company's Name Address of Registered Office Certificate of Registration No. Issued On Date of cancellation 1 M/s Trupti Finance Private Limited 306, Sarthik Complex, Near Fun Republic, Satellite, Ahmedabad-380 015, Guj
Apr 09, 2018
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 M/s Times Tradelink Private Limited 312, Todi Chambers 2, Lal Bazar Street, 3rd Fl
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 M/s Times Tradelink Private Limited 312, Todi Chambers 2, Lal Bazar Street, 3rd Fl
Mar 31, 2018
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - The CKP Co-operative Bank Ltd, Mumbai, Maharashtra
The CKP Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions vide directive 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 dated November 23, 2017 and was valid upto March 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 in it
The CKP Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions vide directive 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 dated November 23, 2017 and was valid upto March 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 in it
Mar 31, 2018
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - The Kapol Co-operative Bank Ltd., Mumbai, Maharashtra
The Kapol Co-operative Bank Ltd., Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated March 30, 2017 from the close of business on March 30, 2017. The validity of the directions was extended from time to time vide subsequent Directives, the last being up to March 31, 2018 vide Directive dated September 25, 2017, subject to review. It is hereby notified for the information of the public that , the Reserve Bank of India, in e
The Kapol Co-operative Bank Ltd., Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated March 30, 2017 from the close of business on March 30, 2017. The validity of the directions was extended from time to time vide subsequent Directives, the last being up to March 31, 2018 vide Directive dated September 25, 2017, subject to review. It is hereby notified for the information of the public that , the Reserve Bank of India, in e
Mar 28, 2018
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Shree Ganesh Sahakari Bank Ltd, Nashik, Maharashtra- Extension of period and relaxation in directions
The Shree Ganesh Sahakari Bank Ltd, Nashik, Maharashtra, was placed under directions vide directive dated April 01, 2013 from close of business on April 02, 2013. The validity of the directions was extended from time to time vide subsequent modified Directives, the last being Directive dated September 25, 2017 upto March 29, 2018, subject to review. In terms of the existing directions, among other conditions, a sum not exceeding ₹ 70,000/- of the total balance in ever
The Shree Ganesh Sahakari Bank Ltd, Nashik, Maharashtra, was placed under directions vide directive dated April 01, 2013 from close of business on April 02, 2013. The validity of the directions was extended from time to time vide subsequent modified Directives, the last being Directive dated September 25, 2017 upto March 29, 2018, subject to review. In terms of the existing directions, among other conditions, a sum not exceeding ₹ 70,000/- of the total balance in ever
Mar 28, 2018
Applicable Average Base Rate to be charged by NBFC-MFIs for the Quarter Beginning April 01, 2018
The Reserve Bank of India has today communicated that the applicable average base rate to be charged by Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning April 01, 2018 will be 8.99 per cent. It may be recalled that the Reserve Bank had, in its circular dated February 7, 2014, issued to NBFC-MFIs regarding pricing of credit, stated that it will, on the last working day of every quarter, advise the avera
The Reserve Bank of India has today communicated that the applicable average base rate to be charged by Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning April 01, 2018 will be 8.99 per cent. It may be recalled that the Reserve Bank had, in its circular dated February 7, 2014, issued to NBFC-MFIs regarding pricing of credit, stated that it will, on the last working day of every quarter, advise the avera
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