Press Releases - Consumer Education and Protection - RBI - Reserve Bank of India
Press Releases
Nov 03, 2017
Withdrawal of directions under sub-section (2) of section 35A of the Banking Regulation Act, 1949 (AACS) -Nashik District Girna Sahakari Bank Ltd., Nashik, District - Nashik, Maharashtra
The Reserve Bank of India has withdrawn the All Inclusive Directions issued vide order dated September 08, 2015 to Nashik District Girna Sahakari Bank Ltd., Nashik, Maharashtra with effect from November 02, 2017. The withdrawal of Directions is in exercise of powers vested in the Reserve Bank of India under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies). A copy of the above order dated November 01, 2017 is
The Reserve Bank of India has withdrawn the All Inclusive Directions issued vide order dated September 08, 2015 to Nashik District Girna Sahakari Bank Ltd., Nashik, Maharashtra with effect from November 02, 2017. The withdrawal of Directions is in exercise of powers vested in the Reserve Bank of India under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies). A copy of the above order dated November 01, 2017 is
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Oct 24, 2017
Reserve Bank of India imposes monetary penalty on IDFC Bank Limited
The Reserve Bank of India (RBI) has imposed on October 23, 2017, a monetary penalty of ₹ 20 million on IDFC Bank Limited (the bank) for contravention of regulatory restrictions pertaining to loans and advances. 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. Th
The Reserve Bank of India (RBI) has imposed on October 23, 2017, a monetary penalty of ₹ 20 million on IDFC Bank Limited (the bank) for contravention of regulatory restrictions pertaining to loans and advances. 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. Th
Oct 24, 2017
Reserve Bank of India imposes monetary penalty on Yes Bank Limited
The Reserve Bank of India (RBI) has imposed on October 23, 2017, a monetary penalty of ₹ 60 million on Yes Bank Limited (the bank) for non-compliance with the directions issued by RBI on Income Recognition Asset Classification (IRAC) norms and delayed reporting of information security incident involving ATMs of the bank. 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
The Reserve Bank of India (RBI) has imposed on October 23, 2017, a monetary penalty of ₹ 60 million on Yes Bank Limited (the bank) for non-compliance with the directions issued by RBI on Income Recognition Asset Classification (IRAC) norms and delayed reporting of information security incident involving ATMs of the bank. 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
Oct 21, 2017
RBI clarifies that linking Aadhaar to bank accounts is mandatory
Some news items have appeared in a section of the media quoting a reply to a Right to Information Act application that Aadhaar number linkage with bank accounts is not mandatory. The Reserve Bank clarifies that, in applicable cases, linkage of Aadhaar number to bank account is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 published in the Official Gazette on June 1, 2017. These Rules have statutory force and,
Some news items have appeared in a section of the media quoting a reply to a Right to Information Act application that Aadhaar number linkage with bank accounts is not mandatory. The Reserve Bank clarifies that, in applicable cases, linkage of Aadhaar number to bank account is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 published in the Official Gazette on June 1, 2017. These Rules have statutory force and,
Oct 18, 2017
RBI Directions issued to Navodaya Urban Co-operative Bank Ltd, Nagpur, Maharashtra further extended upto January 15, 2018
The Reserve Bank of India has extended the Directions earlier issued to Navodaya Urban Co-operative Bank Ltd, Nagpur for further three months. The Directions are now valid up to January 15, 2018, subject to review. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). A copy of the Directions is displayed on the bank's premises for perusal by interested members of p
The Reserve Bank of India has extended the Directions earlier issued to Navodaya Urban Co-operative Bank Ltd, Nagpur for further three months. The Directions are now valid up to January 15, 2018, subject to review. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). A copy of the Directions is displayed on the bank's premises for perusal by interested members of p
Oct 16, 2017
Award for outstanding writings in the field of Banking Hindi
With a view to encourage original writings and research in Banking Hindi, Reserve Bank of India has launched an ‘Award scheme for outstanding writings in the field of banking Hindi’. Under this scheme, Professors (including Assistant and Associates, etc.) of Indian Universities may be awarded three prizes of ₹ 1,25,000.00 (Rupees one lac twenty five thousand only) each for writing books originally in Hindi on Economics/Banking/Financial subjects. Details of scheme are
With a view to encourage original writings and research in Banking Hindi, Reserve Bank of India has launched an ‘Award scheme for outstanding writings in the field of banking Hindi’. Under this scheme, Professors (including Assistant and Associates, etc.) of Indian Universities may be awarded three prizes of ₹ 1,25,000.00 (Rupees one lac twenty five thousand only) each for writing books originally in Hindi on Economics/Banking/Financial subjects. Details of scheme are
Oct 13, 2017
RBI extends Directions issued to the HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh
The Reserve Bank of India has extended directions issued to the HCBL Co-operative Bank Ltd., Lucknow for a further period of six months from October 16, 2017 to April 15, 2018, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since the close of business on April 16, 2015 vide directive dated April 10, 2015. The same has further been extended up to April 15, 2018 vide directive dated October 09, 2
The Reserve Bank of India has extended directions issued to the HCBL Co-operative Bank Ltd., Lucknow for a further period of six months from October 16, 2017 to April 15, 2018, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since the close of business on April 16, 2015 vide directive dated April 10, 2015. The same has further been extended up to April 15, 2018 vide directive dated October 09, 2
Oct 12, 2017
17 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 Golden Trexim Pvt Ltd (Presently M/s Shri Jagannath Steels & Power Ltd) KJ
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 Golden Trexim Pvt Ltd (Presently M/s Shri Jagannath Steels & Power Ltd) KJ
Oct 12, 2017
RBI releases Draft Directions regarding Framework for Authorisation of Electronic Trading Platforms under section 45 W of the RBI Act, 1934
The Reserve Bank of India today released Draft Directions for authorising Electronic Trading Platforms for financial market instruments regulated by the Reserve Bank. Comments on the draft guidelines are invited from banks, market participants and other interested parties by November 10, 2017. Feedback on the draft directions may be forwarded to: The Chief General Manager, Reserve Bank of India Financial Markets Regulation Department 1st Floor, Main BuildingShahid Bha
The Reserve Bank of India today released Draft Directions for authorising Electronic Trading Platforms for financial market instruments regulated by the Reserve Bank. Comments on the draft guidelines are invited from banks, market participants and other interested parties by November 10, 2017. Feedback on the draft directions may be forwarded to: The Chief General Manager, Reserve Bank of India Financial Markets Regulation Department 1st Floor, Main BuildingShahid Bha
Oct 12, 2017
The Anantapur Co-operative Town Bank Ltd., Anantapuramu, Andhra Pradesh - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 0.50 lakh (Rupees Fifty thousand only) on The Anantapur Co-operative Town Bank Ltd., Anantapuramu, 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
The Reserve Bank of India has imposed a monetary penalty of ₹ 0.50 lakh (Rupees Fifty thousand only) on The Anantapur Co-operative Town Bank Ltd., Anantapuramu, 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
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