Press Releases - Consumer Education and Protection - RBI - Reserve Bank of India
Press Releases
Mar 29, 2019
Withdrawal of All Inclusive Directions under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (AACS) - Shri Ganesh Sahakari Bank Ltd., Nashik, Maharashtra
Reserve Bank of India, in the public interest, had issued directions to Shri Ganesh Sahakari Bank Ltd., Nashik, 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 April 01, 2013. Reserve Bank of India has now, in exercise of powers vested with the Reserve Bank of India under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (A
Reserve Bank of India, in the public interest, had issued directions to Shri Ganesh Sahakari Bank Ltd., Nashik, 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 April 01, 2013. Reserve Bank of India has now, in exercise of powers vested with the Reserve Bank of India under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (A
PDF (
Mar 29, 2019
Applicable Average Base Rate to be charged by NBFC-MFIs for the Quarter Beginning April 01, 2019
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, 2019 will be 9.21 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, 2019 will be 9.21 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
Mar 28, 2019
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - The Maratha Sahakari Bank Ltd, Mumbai, Maharashtra
The Maratha Sahakari Bank Ltd, Mumbai, Maharashtra, was placed under directions from close of business on August 31, 2016 vide directive dated August 31, 2016. The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive dated November 27, 2018 and was valid upto March 31, 2019 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
The Maratha Sahakari Bank Ltd, Mumbai, Maharashtra, was placed under directions from close of business on August 31, 2016 vide directive dated August 31, 2016. The validity of the directions was extended from time to time vide subsequent Directives, the last being Directive dated November 27, 2018 and was valid upto March 31, 2019 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
Mar 27, 2019
Reserve Bank of India imposes monetary penalty on Punjab National Bank
Reference is invited to the Press Release No. 2018-2019/2144 dated March 08, 2019 regarding imposition of penalty on 36 banks for non-compliance with various directions issued by the Reserve Bank of India (RBI) on time-bound implementation and strengthening of SWIFT-related operational controls. In continuation thereto, RBI has imposed, by an order dated February 25, 2019, a monetary penalty of ₹ 20 million (Rupees Twenty Million) on Punjab National Bank (the bank) fo
Reference is invited to the Press Release No. 2018-2019/2144 dated March 08, 2019 regarding imposition of penalty on 36 banks for non-compliance with various directions issued by the Reserve Bank of India (RBI) on time-bound implementation and strengthening of SWIFT-related operational controls. In continuation thereto, RBI has imposed, by an order dated February 25, 2019, a monetary penalty of ₹ 20 million (Rupees Twenty Million) on Punjab National Bank (the bank) fo
Mar 27, 2019
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Hindu Cooperative Bank Limited, Pathankot, Punjab
Reserve Bank of India had, in the public interest, issued directions to Hindu Cooperative Bank Limited, Pathankot, Punjab 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 March 25, 2019. The Directions stipulate certain restrictions on the bank. The details of Directions are displayed on the bank’s website and on pre
Reserve Bank of India had, in the public interest, issued directions to Hindu Cooperative Bank Limited, Pathankot, Punjab 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 March 25, 2019. The Directions stipulate certain restrictions on the bank. The details of Directions are displayed on the bank’s website and on pre
Mar 25, 2019
RBI extends validity of the Directions issued to the U.P. Civil Secretariat Primary Co-operative Bank Ltd., Lucknow (Uttar Pradesh)
The Reserve Bank of India (RBI) has extended the Directions issued to the U.P. Civil Secretariat Primary Co-operative Bank Ltd., Lucknow for a period of six months from March 26, 2019 to September 25, 2019, subject to review. The bank has been under directions since September 25, 2018 vide directive dated September 19, 2018 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the directive, which was issued up to Marc
The Reserve Bank of India (RBI) has extended the Directions issued to the U.P. Civil Secretariat Primary Co-operative Bank Ltd., Lucknow for a period of six months from March 26, 2019 to September 25, 2019, subject to review. The bank has been under directions since September 25, 2018 vide directive dated September 19, 2018 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the directive, which was issued up to Marc
Mar 22, 2019
The Tadpatri Co-operative Town Bank Ltd., Tadpatri, Andhra Pradesh - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 200,000/- (Rupees Two lakh only) on The Tadpatri Co-operative Town Bank Ltd., Tadpatri, Andhra Pradesh, 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 violation of the provision of section 6(1)(g) and section 6(1)(k) read with section 56 of Banking Regulation Act, 1
The Reserve Bank of India has imposed a monetary penalty of ₹ 200,000/- (Rupees Two lakh only) on The Tadpatri Co-operative Town Bank Ltd., Tadpatri, Andhra Pradesh, 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 violation of the provision of section 6(1)(g) and section 6(1)(k) read with section 56 of Banking Regulation Act, 1
Mar 20, 2019
RBI cancels Certificate of Registration of 29 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. Dazzle Holdings Private Limited 1216, 12th Floor, 38, Ansal Tower, Nehru Place, New Delhi-110 019 B-14.01764 June 24, 2000 January 14, 2019 2
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. Dazzle Holdings Private Limited 1216, 12th Floor, 38, Ansal Tower, Nehru Place, New Delhi-110 019 B-14.01764 June 24, 2000 January 14, 2019 2
Mar 20, 2019
The Mahila Vikas Co-operative Bank Ltd., Ahmedabad (Gujarat) (Non-scheduled UCB) - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 10.00 lakh (Rupees ten lakh only) on The Mahila Vikas Co-operative Bank Ltd. Ahmedabad (Gujarat) (Non-scheduled UCB) in exercise of the powers vested in it under the provisions of Section 47A (1) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of RBI instructions/guidelines relating to ceiling on unsecured advances, loans and advances to di
The Reserve Bank of India has imposed a monetary penalty of ₹ 10.00 lakh (Rupees ten lakh only) on The Mahila Vikas Co-operative Bank Ltd. Ahmedabad (Gujarat) (Non-scheduled UCB) in exercise of the powers vested in it under the provisions of Section 47A (1) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of RBI instructions/guidelines relating to ceiling on unsecured advances, loans and advances to di
Mar 20, 2019
3 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. Rajat Export Imports (India) Private Limited A 134, Arjan Nagar, Kotla Mubarakpur
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. Rajat Export Imports (India) Private Limited A 134, Arjan Nagar, Kotla Mubarakpur
Mar 14, 2019
RBI releases 2018 list of Domestic Systemically Important Banks (D-SIBs)
SBI, ICICI Bank, and HDFC Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs), under the same bucketing structure as last year. The additional Common Equity Tier 1 (CET1) requirement for D-SIBs has already been phased-in from April 1, 2016 and will become fully effective from April 1, 2019. The additional CET1 requirement will be in addition to the capital conservation buffer. The updated list of D-SIBs is as follows- Bucket Banks Addition
SBI, ICICI Bank, and HDFC Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs), under the same bucketing structure as last year. The additional Common Equity Tier 1 (CET1) requirement for D-SIBs has already been phased-in from April 1, 2016 and will become fully effective from April 1, 2019. The additional CET1 requirement will be in addition to the capital conservation buffer. The updated list of D-SIBs is as follows- Bucket Banks Addition
Mar 14, 2019
Re-categorization of IDBI Bank Ltd. as a Private Sector Bank
IDBI Bank Limited has been categorized as a ‘Private Sector Bank’ for regulatory purposes by Reserve Bank of India with effect from January 21, 2019 consequent upon Life Insurance Corporation of India acquiring 51% of the total paid-up equity share capital of the bank. Jose J. Kattoor Chief General Manager Press Release: 2018-2019/2194
IDBI Bank Limited has been categorized as a ‘Private Sector Bank’ for regulatory purposes by Reserve Bank of India with effect from January 21, 2019 consequent upon Life Insurance Corporation of India acquiring 51% of the total paid-up equity share capital of the bank. Jose J. Kattoor Chief General Manager Press Release: 2018-2019/2194
Mar 14, 2019
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Vasantdada Nagari Sahakari Bank Ltd, Osmanabad, Maharashtra
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 months from March 14, 2019 to June 13, 2019. The Directions stipulate certain restrictions a
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 months from March 14, 2019 to June 13, 2019. The Directions stipulate certain restrictions a
Mar 13, 2019
Banaras Mercantile Co-operative Bank Ltd., Varanasi , (U.P.) - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 1,50,000/- (Rupees one lakh fifty thousand Only) on Banaras Mercantile Co-operative Bank Ltd., Varanasi, (U.P.) in exercise of powers vested 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 violation of RBI Instructions/Guidelines relating to Supervisory Instructions issued under Section 36(1) of the Banking R
The Reserve Bank of India has imposed a monetary penalty of ₹ 1,50,000/- (Rupees one lakh fifty thousand Only) on Banaras Mercantile Co-operative Bank Ltd., Varanasi, (U.P.) in exercise of powers vested 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 violation of RBI Instructions/Guidelines relating to Supervisory Instructions issued under Section 36(1) of the Banking R
Mar 13, 2019
National Mercantile Co-operative Bank Ltd., Lucknow, (U.P.) - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 50,000/- (Rupees Fifty Thousand Only) on National Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh in exercise of 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 violation of RBI Instructions/Guidelines for delay in submission of compliance. The Reserve Bank of India had issued a
The Reserve Bank of India has imposed a monetary penalty of ₹ 50,000/- (Rupees Fifty Thousand Only) on National Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh in exercise of 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 violation of RBI Instructions/Guidelines for delay in submission of compliance. The Reserve Bank of India had issued a
Mar 13, 2019
The Urban Co-operative Bank Ltd., Maunath Bhanjan, (U.P.) - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 3,00,000/-(Rupees three lakh Only) on The Urban Co-operative Bank Ltd., Maunath Bhanjan (U.P.) in exercise of powers vested 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 violation of RBI Instructions/Guidelines relating to Supervisory Instructions issued under Section 36(1) of the Banking Regulation Act, 19
The Reserve Bank of India has imposed a monetary penalty of ₹ 3,00,000/-(Rupees three lakh Only) on The Urban Co-operative Bank Ltd., Maunath Bhanjan (U.P.) in exercise of powers vested 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 violation of RBI Instructions/Guidelines relating to Supervisory Instructions issued under Section 36(1) of the Banking Regulation Act, 19
Mar 13, 2019
Lucknow University Primary Co-operative Bank Ltd., Lucknow, (U.P.) - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 1,00,000/- (Rupees one lakh Only) on Lucknow University Primary Co-operative Bank Ltd., Lucknow (U.P.) in exercise of powers vested 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 violation of RBI Instructions/Guidelines relating to Supervisory Instructions issued under Section 36(1) of the Banking Regulation
The Reserve Bank of India has imposed a monetary penalty of ₹ 1,00,000/- (Rupees one lakh Only) on Lucknow University Primary Co-operative Bank Ltd., Lucknow (U.P.) in exercise of powers vested 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 violation of RBI Instructions/Guidelines relating to Supervisory Instructions issued under Section 36(1) of the Banking Regulation
Mar 11, 2019
RBI extends validity of the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh
The Reserve Bank of India (RBI) has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from March 12, 2019 to September 11, 2019, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified / its validity was extended vide RBI
The Reserve Bank of India (RBI) has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from March 12, 2019 to September 11, 2019, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified / its validity was extended vide RBI
Mar 08, 2019
Reserve Bank of India imposes monetary penalty on 36 banks
The Reserve Bank of India (RBI) has imposed, by orders dated January 31, 2019 and February 25, 2019, monetary penalty for non-compliance with various directions issued by RBI on time-bound implementation and strengthening of SWIFT-related operational controls on 36 banks as detailed below: Sr. No. Name of the bank Amount of penalty (in ₹ Million) 1. Bank of Baroda 40 2. Catholic Syrian Bank Limited 40 3. Citibank N.A. 40 4. Indian Bank 40 5. Karnataka Bank Limited 40
The Reserve Bank of India (RBI) has imposed, by orders dated January 31, 2019 and February 25, 2019, monetary penalty for non-compliance with various directions issued by RBI on time-bound implementation and strengthening of SWIFT-related operational controls on 36 banks as detailed below: Sr. No. Name of the bank Amount of penalty (in ₹ Million) 1. Bank of Baroda 40 2. Catholic Syrian Bank Limited 40 3. Citibank N.A. 40 4. Indian Bank 40 5. Karnataka Bank Limited 40
Mar 08, 2019
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - The Karad Janata Sahakari Bank Ltd., Karad, Maharashtra - Extension of period
The Karad Janata Sahakari Bank Ltd., Karad was placed under directions vide directive dated November 7, 2017 from the close of business on November 9, 2017 for a period of six months. The validity of the above directions were extended from time to time last being vide directive dated October 30, 2018 up to March 9, 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
The Karad Janata Sahakari Bank Ltd., Karad was placed under directions vide directive dated November 7, 2017 from the close of business on November 9, 2017 for a period of six months. The validity of the above directions were extended from time to time last being vide directive dated October 30, 2018 up to March 9, 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
Install the RBI mobile application and get quick access to the latest news!
Page Last Updated on: June 21, 2024
