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Press Releases
Oct 25, 2019
Reserve Bank of India imposes monetary penalty on Tamilnad Mercantile Bank Ltd
The Reserve Bank of India (RBI) has, by an order dated October 24, 2019, imposed monetary penalty of ₹ 35 lakh (Rupees Thirty Five Lakh) on Tamilnad Mercantile Bank Ltd. (the bank) for non-compliance with certain provisions of directions issued by RBI on “Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1
The Reserve Bank of India (RBI) has, by an order dated October 24, 2019, imposed monetary penalty of ₹ 35 lakh (Rupees Thirty Five Lakh) on Tamilnad Mercantile Bank Ltd. (the bank) for non-compliance with certain provisions of directions issued by RBI on “Reserve Bank of India (Frauds classification and reporting by commercial banks and select FIs) directions 2016”. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1
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Oct 25, 2019
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - The Needs of Life Co-op. Bank Ltd., Mumbai, Maharashtra
The Needs of Life Co-op. Bank Ltd., Mumbai, Maharashtra, was placed under Directions from close of business on October 29, 2018 for a period of six months subject to review, vide Directive dated October 26, 2018. The validity of the directions was extended last time vide Directive dated April 24, 2019 for six months upto October 29, 2019, subject to review. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers v
The Needs of Life Co-op. Bank Ltd., Mumbai, Maharashtra, was placed under Directions from close of business on October 29, 2018 for a period of six months subject to review, vide Directive dated October 26, 2018. The validity of the directions was extended last time vide Directive dated April 24, 2019 for six months upto October 29, 2019, subject to review. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers v
Oct 25, 2019
Directions issued to the Shivajirao Bhosale Sahakari Bank Ltd., Pune, Maharashtra - Extension of Period
The Reserve Bank of India vide directive dated May 03, 2019 had placed the Shivajirao Bhosale Sahakari Bank Ltd., Pune, under Directions from the close of business on May 04, 2019. 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-section (1) of Section 35 A of the Banking Regulation Act, 1949 read with Section 56 of the said Act, hereby directs that the aforesaid Directive shall conti
The Reserve Bank of India vide directive dated May 03, 2019 had placed the Shivajirao Bhosale Sahakari Bank Ltd., Pune, under Directions from the close of business on May 04, 2019. 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-section (1) of Section 35 A of the Banking Regulation Act, 1949 read with Section 56 of the said Act, hereby directs that the aforesaid Directive shall conti
Oct 23, 2019
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Bhagyodaya Friends Urban Co-operative Bank Ltd. Warud, Dist. Amravati, Maharashtra - Extension of Period
Reserve Bank of India, in the public interest, had issued directions to Bhagyodaya Friends Urban Co-operative Bank Ltd. Warud, Dist. Amravati, Maharashtra in exercise of 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 January 17, 2019. Reserve Bank of India has now further extended the directions for a period of six months from October 18, 2019 to April 17, 2020, su
Reserve Bank of India, in the public interest, had issued directions to Bhagyodaya Friends Urban Co-operative Bank Ltd. Warud, Dist. Amravati, Maharashtra in exercise of 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 January 17, 2019. Reserve Bank of India has now further extended the directions for a period of six months from October 18, 2019 to April 17, 2020, su
Oct 22, 2019
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949(AACS) - United Cooperative Bank Limited, Bagnan Station Road (North), P.O. - Bagnan, Dist- Howrah, West Bengal - Extension of Period
Reserve Bank of India, in public interest, had issued Directions to United Co-operative Bank Limited, Bagnan, 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, as modified from time to time which was last extended upto October 18, 2019. Reserve Bank of India has now, in public interest, further extended the Directions for a
Reserve Bank of India, in public interest, had issued Directions to United Co-operative Bank Limited, Bagnan, 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, as modified from time to time which was last extended upto October 18, 2019. Reserve Bank of India has now, in public interest, further extended the Directions for a
Oct 17, 2019
Directions issued to the Shivam Sahakari Bank Ltd., Ichalkaranji, Dist. - Kolhapur, Maharashtra - Extension of Period
The Reserve Bank of India (vide directive DCBS.CO.BSD-I/D-6/12.22.351/2017-18 dated May 18, 2018) had placed the Shivam Sahakari Bank Ltd., Ichalkaranji, District Kolhapur, Maharashtra, under Directions from the close of business on May 19, 2018. 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-section (1) of Section 35 A of the Banking Regulation Act, 1949 read with Section 56 of the
The Reserve Bank of India (vide directive DCBS.CO.BSD-I/D-6/12.22.351/2017-18 dated May 18, 2018) had placed the Shivam Sahakari Bank Ltd., Ichalkaranji, District Kolhapur, Maharashtra, under Directions from the close of business on May 19, 2018. 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-section (1) of Section 35 A of the Banking Regulation Act, 1949 read with Section 56 of the
Oct 17, 2019
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Dr. Shivajirao Patil Nilangekar Urban Co-operative Limited, Nilanga, Dist. Latur, Maharashtra - Extension of Period
Reserve Bank of India, in the public interest, had issued directions to Dr. Shivajirao Patil Nilangekar Urban Co-operative Limited, Nilanga, Dist.Latur, Maharashtra in exercise of powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS) read with Section 56 of the Banking Regulation Act, 1949 from the close of business on February 16, 2019. Reserve Bank of India has now further extended the directions for a period of six mont
Reserve Bank of India, in the public interest, had issued directions to Dr. Shivajirao Patil Nilangekar Urban Co-operative Limited, Nilanga, Dist.Latur, Maharashtra in exercise of powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS) read with Section 56 of the Banking Regulation Act, 1949 from the close of business on February 16, 2019. Reserve Bank of India has now further extended the directions for a period of six mont
Oct 16, 2019
Reserve Bank of India imposes monetary penalty on SBM Bank (India) Ltd.
The Reserve Bank of India (RBI) has, by an order dated October 15, 2019, imposed a monetary penalty of ₹ 3 crore on SBM Bank (India) Ltd. for non-compliance by SBM Bank (Mauritius) Ltd. (amalgamated with SBM Bank (India) Ltd. on November 30, 2018) with certain provisions of directions issued by RBI on “Time-bound implementation and strengthening of SWIFT - related operational controls” and “Cyber Security Framework in Banks”. This penalty has been imposed in exercise
The Reserve Bank of India (RBI) has, by an order dated October 15, 2019, imposed a monetary penalty of ₹ 3 crore on SBM Bank (India) Ltd. for non-compliance by SBM Bank (Mauritius) Ltd. (amalgamated with SBM Bank (India) Ltd. on November 30, 2018) with certain provisions of directions issued by RBI on “Time-bound implementation and strengthening of SWIFT - related operational controls” and “Cyber Security Framework in Banks”. This penalty has been imposed in exercise
Oct 16, 2019
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) -The City Co-operative Bank Ltd., Mumbai, Maharashtra- Extension of period
The City Co-operative Bank Ltd., Mumbai was placed under directions vide directive dated April 17, 2018 from the close of business on April 17, 2018 for a period of six months. The validity of the above directions were extended from time to time, the last being vide Directive dated April 09, 2019 up to October 17, 2019. 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-section (1) of S
The City Co-operative Bank Ltd., Mumbai was placed under directions vide directive dated April 17, 2018 from the close of business on April 17, 2018 for a period of six months. The validity of the above directions were extended from time to time, the last being vide Directive dated April 09, 2019 up to October 17, 2019. 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-section (1) of S
Oct 16, 2019
The Budge Budge Nangi Co-operative Bank Ltd., 63 Mahatma Gandhi Road, Budge Budge, South 24 Parganas, Kolkata, West Bengal- Penalised
The Reserve Bank of India has imposed on October 16, 2019, a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh) on Budge Budge Nangi Co-operative Bank Ltd., 63 Mahatma Gandhi Road, Budge Budge, South 24 Parganas, Kolkata -700137, West Bengal, in exercise of the 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 violations/ non-adherence of Section 20 of
The Reserve Bank of India has imposed on October 16, 2019, a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh) on Budge Budge Nangi Co-operative Bank Ltd., 63 Mahatma Gandhi Road, Budge Budge, South 24 Parganas, Kolkata -700137, West Bengal, in exercise of the 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 violations/ non-adherence of Section 20 of
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