Press Releases - Consumer Education and Protection - RBI - Reserve Bank of India
Press Releases
Oct 16, 2019
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Vasantdada Nagari Sahakari Bank Ltd, Osmanabad, Maharashtra - Extension of Period
Reserve Bank of India, in the public interest, had issued directions to Vasantdada Nagari Sahakari Bank Ltd, Osmanabad, Maharashtra in exercise of powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS) from the close of business on November 13, 2017. Reserve Bank of India has now further extended the directions for a period of three and half months from October 14, 2019 to January 31, 2020, subject to review. The Directions
Reserve Bank of India, in the public interest, had issued directions to Vasantdada Nagari Sahakari Bank Ltd, Osmanabad, Maharashtra in exercise of powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS) from the close of business on November 13, 2017. Reserve Bank of India has now further extended the directions for a period of three and half months from October 14, 2019 to January 31, 2020, subject to review. The Directions
PDF (
Oct 14, 2019
Reserve Bank of India imposes monetary penalty on The Lakshmi Vilas Bank Ltd
The Reserve Bank of India (RBI) has, by an order dated October 14, 2019, imposed monetary penalty of ₹ 1 crore on The Lakshmi Vilas Bank Ltd. (the bank) for non-compliance with certain provisions of 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. This action i
The Reserve Bank of India (RBI) has, by an order dated October 14, 2019, imposed monetary penalty of ₹ 1 crore on The Lakshmi Vilas Bank Ltd. (the bank) for non-compliance with certain provisions of 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. This action i
Oct 14, 2019
Reserve Bank of India imposes monetary penalty on Syndicate Bank
The Reserve Bank of India (RBI) has imposed, by an order dated October 14, 2019, a monetary penalty of ₹ 75 lakh (Rupees Seventy Five Lakh) on Syndicate Bank (the bank) for non-compliance with the directions issued by RBI on (i) Frauds Classification and Reporting and (ii) Housing Sector: Innovative Housing Loan Products - Upfront disbursal of housing loans. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) rea
The Reserve Bank of India (RBI) has imposed, by an order dated October 14, 2019, a monetary penalty of ₹ 75 lakh (Rupees Seventy Five Lakh) on Syndicate Bank (the bank) for non-compliance with the directions issued by RBI on (i) Frauds Classification and Reporting and (ii) Housing Sector: Innovative Housing Loan Products - Upfront disbursal of housing loans. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) rea
Oct 14, 2019
Reserve Bank enhances withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank Ltd to ₹ 40,000/-
It may be recalled that the Reserve Bank of India on October 03, 2019 had permitted the depositors of Punjab and Maharashtra Cooperative Bank Ltd. to withdraw up to ₹ 25,000/- (Rupees Twenty Five Thousand Only) of the total balance in their accounts. The Reserve Bank of India, after reviewing the bank’s liquidity position and its ability to pay its depositors has decided to further enhance the limit for withdrawal to ₹ 40,000/- (Rupees Forty Thousand only), inclusive
It may be recalled that the Reserve Bank of India on October 03, 2019 had permitted the depositors of Punjab and Maharashtra Cooperative Bank Ltd. to withdraw up to ₹ 25,000/- (Rupees Twenty Five Thousand Only) of the total balance in their accounts. The Reserve Bank of India, after reviewing the bank’s liquidity position and its ability to pay its depositors has decided to further enhance the limit for withdrawal to ₹ 40,000/- (Rupees Forty Thousand only), inclusive
Oct 11, 2019
Extension of All Inclusive Directions under Section 35A of the Banking Regulation Act, 1949(AACS) - The Mudhol Co-operative Bank Ltd., Mudhol
The Reserve Bank of India issued Directions to the The Mudhol Co-operative Bank Limited, Mudhol, Dist. Bagalkot, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act,1949 vide Directive dated April 2, 2019. The Reserve Bank of India is satisfied that in public interest, it is necessary to extend the period of operation of the Directives dated April 2, 2019, issued to The Mudhol Co-operative Bank Limited, Mudhol, Dist. Bagalkot, Karnataka. Acc
The Reserve Bank of India issued Directions to the The Mudhol Co-operative Bank Limited, Mudhol, Dist. Bagalkot, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act,1949 vide Directive dated April 2, 2019. The Reserve Bank of India is satisfied that in public interest, it is necessary to extend the period of operation of the Directives dated April 2, 2019, issued to The Mudhol Co-operative Bank Limited, Mudhol, Dist. Bagalkot, Karnataka. Acc
Oct 10, 2019
Reserve Bank of India imposes monetary penalty on Toyota Financial Services India Limited
The Reserve Bank of India (RBI) has, by an order dated October 09, 2019, imposed a monetary penalty of ₹ 5 lakh on M/s Toyota Financial Services India Limited (company), for non-compliance with directions issued by RBI on ‘Monitoring of Frauds in NBFCs’. The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58G read with clause (aa) of sub-section (5) of section 58B of the Reserve Bank of Indi
The Reserve Bank of India (RBI) has, by an order dated October 09, 2019, imposed a monetary penalty of ₹ 5 lakh on M/s Toyota Financial Services India Limited (company), for non-compliance with directions issued by RBI on ‘Monitoring of Frauds in NBFCs’. The penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58G read with clause (aa) of sub-section (5) of section 58B of the Reserve Bank of Indi
Oct 03, 2019
Reserve Bank Enhances withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank Ltd to ₹ 25,000
It may be recalled that the Reserve Bank of India had permitted the depositors of Punjab and Maharashtra Cooperative Bank Ltd to withdraw up to ₹ 10,000/- (Rupees Ten Thousand Only) of the total balance in their accounts. The Reserve Bank of India again reviewed the bank’s liquidity position and, with a view to reducing the hardship of the depositors, has decided to further enhance the limit for withdrawal to ₹ 25000 (Rupees Twenty Five Thousand Only). With the above
It may be recalled that the Reserve Bank of India had permitted the depositors of Punjab and Maharashtra Cooperative Bank Ltd to withdraw up to ₹ 10,000/- (Rupees Ten Thousand Only) of the total balance in their accounts. The Reserve Bank of India again reviewed the bank’s liquidity position and, with a view to reducing the hardship of the depositors, has decided to further enhance the limit for withdrawal to ₹ 25000 (Rupees Twenty Five Thousand Only). With the above
Oct 03, 2019
Reserve Bank of India imposes penalty on United Overseas Bank Limited
The Reserve Bank of India (RBI) has, by an order dated October 01, 2019, imposed a monetary penalty of ₹ One crore on United Overseas Bank Limited (the bank) for its failure to comply with the provisions of section 10B of the Banking Regulation Act, 1949 (the Act). 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 Act, taking into account the failure of the bank to adhere to th
The Reserve Bank of India (RBI) has, by an order dated October 01, 2019, imposed a monetary penalty of ₹ One crore on United Overseas Bank Limited (the bank) for its failure to comply with the provisions of section 10B of the Banking Regulation Act, 1949 (the Act). 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 Act, taking into account the failure of the bank to adhere to th
Oct 03, 2019
Marginal Cost of Funds Based Lending Rate (MCLR) for the month September 2019
The Reserve Bank of India has today released Lending Rates of Scheduled Commercial Banks based on data received during the month of September 2019. Ajit Prasad Director Press Release : 2019-2020/855
The Reserve Bank of India has today released Lending Rates of Scheduled Commercial Banks based on data received during the month of September 2019. Ajit Prasad Director Press Release : 2019-2020/855
Sep 30, 2019
RBI cancels Certificate of Registration of 26 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. SPML India Limited 113 Park Street, Poddar Point, South Block, 3rd Floor, Kolkata-700 016 B-05.07060 January 17, 2018 August 21, 2019 2. Padm
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. SPML India Limited 113 Park Street, Poddar Point, South Block, 3rd Floor, Kolkata-700 016 B-05.07060 January 17, 2018 August 21, 2019 2. Padm
Install the RBI mobile application and get quick access to the latest news!
Page Last Updated on: June 21, 2024
