Press Releases - Consumer Education and Protection - RBI - Reserve Bank of India
Press Releases
Dec 19, 2016
Banks should accept Pre-2005 Banknotes in Deposit: RBI clarifies
The Reserve Bank of India has clarified that bank should accept deposits of pre-2005 banknotes in the denominations of ₹ 500 and ₹ 1000 but not reissue these. These notes can be exchanged at the Reserve Bank Offices only. In terms of Gazette Notification No. 2652 dated November 08, 2016 issued by the Government of India, ₹ 500 and ₹ 1000 denomination banknotes (Specified Bank Notes) of the existing series issued by the Reserve Bank ceased to be legal tender with effec
The Reserve Bank of India has clarified that bank should accept deposits of pre-2005 banknotes in the denominations of ₹ 500 and ₹ 1000 but not reissue these. These notes can be exchanged at the Reserve Bank Offices only. In terms of Gazette Notification No. 2652 dated November 08, 2016 issued by the Government of India, ₹ 500 and ₹ 1000 denomination banknotes (Specified Bank Notes) of the existing series issued by the Reserve Bank ceased to be legal tender with effec
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Dec 19, 2016
8 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 in exercise of the 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 Registered Office Address CoR No. Issued On Cancellation Order Date 1 M/s Rama Vyapaar Private Limited 5, Dr. Rajendra Prasad Sarani (
The following NBFCs have surrendered the certificate of registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in in exercise of the 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 Registered Office Address CoR No. Issued On Cancellation Order Date 1 M/s Rama Vyapaar Private Limited 5, Dr. Rajendra Prasad Sarani (
Dec 19, 2016
RBI cancels Certificate of Registration of 4 NBFCs
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following four 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 Cancellation Order Date 1 M/s Lakshmi Exim Private Ltd 15th Floor, Infinity Benchmark Plot No. G1, Block EP & GP, Sector-V, Bidh
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following four 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 Cancellation Order Date 1 M/s Lakshmi Exim Private Ltd 15th Floor, Infinity Benchmark Plot No. G1, Block EP & GP, Sector-V, Bidh
Dec 16, 2016
RBI issues Directions to Navodaya Urban Cooperative Bank, Nagpur, District Nagpur, Maharashtra
The Reserve Bank of India has issued Directions to Navodaya Urban Cooperative Bank Ltd., Nagpur, District Nagpur, Maharashtra for a period of six months with effect from close of business as on December 15, 2016. According to the Directions, Navodaya Urban Cooperative Bank Ltd., Nagpur 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 liability including borrowal of funds
The Reserve Bank of India has issued Directions to Navodaya Urban Cooperative Bank Ltd., Nagpur, District Nagpur, Maharashtra for a period of six months with effect from close of business as on December 15, 2016. According to the Directions, Navodaya Urban Cooperative Bank Ltd., Nagpur 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 liability including borrowal of funds
Dec 16, 2016
Issue of ₹ 500 banknotes in Mahatma Gandhi (New) Series with the inset letter ‘E’ having ‘star’ mark in the number panel
The Reserve Bank of India will shortly issue ₹ 500 denomination banknotes in Mahatma Gandhi(New) series with the inset letter ‘E’ in both the number panels, bearing the signature of Dr. Urjit R. Patel Governor, Reserve Bank of India, the year of printing '2016’ and Swachh Bharat Logo printed on the reverse of the Banknote. Some of the captioned banknotes will have an additional character ‘*’ (star) in the number panel in the space between the prefix and the number. Pa
The Reserve Bank of India will shortly issue ₹ 500 denomination banknotes in Mahatma Gandhi(New) series with the inset letter ‘E’ in both the number panels, bearing the signature of Dr. Urjit R. Patel Governor, Reserve Bank of India, the year of printing '2016’ and Swachh Bharat Logo printed on the reverse of the Banknote. Some of the captioned banknotes will have an additional character ‘*’ (star) in the number panel in the space between the prefix and the number. Pa
Dec 14, 2016
RBI extends Directions issued to the Sanmitra Sahakari Bank Maryadit, Mumbai, Maharashtra
Sanmitra Sahakari Bank Maryadit, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated June 14, 2016 from the close of business on June 14, 2016. The validity of the directions has been extended for a further period of six months from December 15, 2016 to June 14, 2017 vide our modified directive dated December 07, 2016 subject to review. The other terms and conditions of the Directive under reference remain unchanged. A copy
Sanmitra Sahakari Bank Maryadit, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated June 14, 2016 from the close of business on June 14, 2016. The validity of the directions has been extended for a further period of six months from December 15, 2016 to June 14, 2017 vide our modified directive dated December 07, 2016 subject to review. The other terms and conditions of the Directive under reference remain unchanged. A copy
Dec 13, 2016
RBI withdraws Directions on Bally Co-operative Bank Limited, Bally, Howrah, West Bengal
The Reserve Bank of India (RBI) had issued directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) to Bally Co-operative Bank Limited, Bally, Howrah, West Bengal vide Directive dated November 06, 2006. The Directions were effective from close of business on November 14, 2006 till further orders and were subject to review from time to time. Reserve Bank, on being satisfied that in the public interest it is necessary to do so, in exe
The Reserve Bank of India (RBI) had issued directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) to Bally Co-operative Bank Limited, Bally, Howrah, West Bengal vide Directive dated November 06, 2006. The Directions were effective from close of business on November 14, 2006 till further orders and were subject to review from time to time. Reserve Bank, on being satisfied that in the public interest it is necessary to do so, in exe
Dec 09, 2016
RBI releases Annual Report of the Banking Ombudsman Scheme
The Reserve Bank of India, today, released the Annual Report of the Banking Ombudsman Scheme for the year 2015-2016. Highlights 1,02,894 complaints were received by 15 Offices of the Banking Ombudsmen Complaints increased by 21% compared to the previous year. Offices of Banking Ombudsmen maintained a disposal rate of 95%. 18 Awards were issued by the Banking Ombudsmen. 34 appeals were received by the Appellate Authority against the awards/decisions of Banking Ombudsme
The Reserve Bank of India, today, released the Annual Report of the Banking Ombudsman Scheme for the year 2015-2016. Highlights 1,02,894 complaints were received by 15 Offices of the Banking Ombudsmen Complaints increased by 21% compared to the previous year. Offices of Banking Ombudsmen maintained a disposal rate of 95%. 18 Awards were issued by the Banking Ombudsmen. 34 appeals were received by the Appellate Authority against the awards/decisions of Banking Ombudsme
Dec 08, 2016
Issuance of ₹ 500 bank notes without inset letter, in the Mahatma Gandhi (New Series)
The Reserve Bank of India will shortly issue ₹ 500 denomination banknotes in the Mahatma Gandhi (New) Series, without any inset letter, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India, and the year of printing '2016' printed on the reverse of the banknote. The design of these notes to be issued now is similar in all respects to the ₹ 500 banknotes in Mahatma Gandhi (New) Series which was notified through Press Release : 2016-2017/1146 dated No
The Reserve Bank of India will shortly issue ₹ 500 denomination banknotes in the Mahatma Gandhi (New) Series, without any inset letter, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India, and the year of printing '2016' printed on the reverse of the banknote. The design of these notes to be issued now is similar in all respects to the ₹ 500 banknotes in Mahatma Gandhi (New) Series which was notified through Press Release : 2016-2017/1146 dated No
Dec 08, 2016
Activity at Banks during November 10 to December 7, 2016
Consequent to the announcement of withdrawal of Legal Tender status of banknotes of ₹ 500 and ₹ 1000 denominations from the midnight of November 8, 2016, the Reserve Bank of India made arrangements for exchange and/or deposit of such notes at the counters of the Reserve Bank and commercial banks, Regional Rural banks and Urban Cooperative Banks. The Reserve Bank has also made arrangements for supply of adequate quantity of banknotes in various denominations to the pub
Consequent to the announcement of withdrawal of Legal Tender status of banknotes of ₹ 500 and ₹ 1000 denominations from the midnight of November 8, 2016, the Reserve Bank of India made arrangements for exchange and/or deposit of such notes at the counters of the Reserve Bank and commercial banks, Regional Rural banks and Urban Cooperative Banks. The Reserve Bank has also made arrangements for supply of adequate quantity of banknotes in various denominations to the pub
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