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Press Releases
Feb 06, 2017
10 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 Kalyani Mfg & Leasing Limited 14-B, Atmaram House, 1, Tolstoy Marg, New Del
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 Kalyani Mfg & Leasing Limited 14-B, Atmaram House, 1, Tolstoy Marg, New Del
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Feb 01, 2017
Ujjivan Small Finance Bank Limited commences operations
Ujjivan Small Finance Bank Limited has commenced operations as a small finance bank with effect from February 1, 2017. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India. Ujjivan Financial Services Private Limited, Bengaluru was one of the ten applicants which were issued in-principle approval for setting up a small finance bank, as announced in the press re
Ujjivan Small Finance Bank Limited has commenced operations as a small finance bank with effect from February 1, 2017. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India. Ujjivan Financial Services Private Limited, Bengaluru was one of the ten applicants which were issued in-principle approval for setting up a small finance bank, as announced in the press re
Jan 31, 2017
RBI extends Directions issued to The CKP Co-operative Bank Ltd., Mumbai, Maharashtra
The CKP Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions vide directive dated April 30, 2014, from close of business on May 2, 2014. The validity of the directions were extended from time to time vide subsequent directives last being order dated July 28, 2016 and was valid upto January 31, 2017 subject to review. It is hereby notified for the information of the public that the validity of the aforesaid directions has been further extended for a
The CKP Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions vide directive dated April 30, 2014, from close of business on May 2, 2014. The validity of the directions were extended from time to time vide subsequent directives last being order dated July 28, 2016 and was valid upto January 31, 2017 subject to review. It is hereby notified for the information of the public that the validity of the aforesaid directions has been further extended for a
Jan 27, 2017
RBI extends Directions issued to The Hardoi Urban Co-operative Bank Ltd., Uttar Pradesh
The Reserve Bank of India has extended Directions issued to the Hardoi Urban Co-operative Bank Ltd., Hardoi for a further period of six months from January 30, 2017 to July 29, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 29, 2016. The same has further been extended upto July 29, 2017 vide directive dated January 23, 2017. A copy of the directive dated January 23, 2017 is dis
The Reserve Bank of India has extended Directions issued to the Hardoi Urban Co-operative Bank Ltd., Hardoi for a further period of six months from January 30, 2017 to July 29, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 29, 2016. The same has further been extended upto July 29, 2017 vide directive dated January 23, 2017. A copy of the directive dated January 23, 2017 is dis
Jan 27, 2017
RBI extends Directions issued to The Mahamedha Urban Co-operative Bank Ltd., Ghazibad, Uttar Pradesh
The Reserve Bank of India has extended Directions issued to the Mahamedha Urban Co-operative Ltd., Ghaziabad for a further period of six months from January 30, 2017 to July 29, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 29, 2016. The same has further been extended upto July 29, 2017 vide directive dated January 23, 2017. A copy of the directive dated January 23, 2017 is di
The Reserve Bank of India has extended Directions issued to the Mahamedha Urban Co-operative Ltd., Ghaziabad for a further period of six months from January 30, 2017 to July 29, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 29, 2016. The same has further been extended upto July 29, 2017 vide directive dated January 23, 2017. A copy of the directive dated January 23, 2017 is di
Jan 27, 2017
Financial Action Task Force (FATF) Public Statement dated October 21, 2016
The Financial Action Task Force (FATF) has called on its members and other jurisdictions to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/FT) risks emanating from the jurisdiction of Democratic People's Republic of Korea (DPRK). Jurisdiction of Iran is subject to the FATF call on its members to apply enhanced due diligence measures proportionate to the risks arising f
The Financial Action Task Force (FATF) has called on its members and other jurisdictions to apply counter-measures to protect the international financial system from the on-going and substantial money laundering and terrorist financing (ML/FT) risks emanating from the jurisdiction of Democratic People's Republic of Korea (DPRK). Jurisdiction of Iran is subject to the FATF call on its members to apply enhanced due diligence measures proportionate to the risks arising f
Jan 23, 2017
Suryoday Small Finance Bank Limited commences operations
Suryoday Small Finance Bank Limited has commenced its operations as a small finance bank with effect from January 23, 2017. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India. Suryoday Micro Finance Private Limited, Navi Mumbai was one of the 10 applicants which were issued in-principle approval for setting up a small finance bank, as announced in the press
Suryoday Small Finance Bank Limited has commenced its operations as a small finance bank with effect from January 23, 2017. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India. Suryoday Micro Finance Private Limited, Navi Mumbai was one of the 10 applicants which were issued in-principle approval for setting up a small finance bank, as announced in the press
Jan 23, 2017
Utkarsh Small Finance Bank Limited commences operations
Utkarsh Small Finance Bank Limited has commenced its operations as a small finance bank with effect from January 23, 2017. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India. Utkarsh Micro Finance Private Limited, Varanasi was one of the 10 applicants which were issued in-principle approval for setting up a small finance bank, as announced in the press relea
Utkarsh Small Finance Bank Limited has commenced its operations as a small finance bank with effect from January 23, 2017. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India. Utkarsh Micro Finance Private Limited, Varanasi was one of the 10 applicants which were issued in-principle approval for setting up a small finance bank, as announced in the press relea
Jan 19, 2017
RBI imposes penalty on Bombay Mercantile Co-operative Bank Ltd., Mumbai
The Reserve Bank of India has imposed a monetary penalty of ₹ 75.00 lakh (Rupees Seventy Five Lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai 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 violations of Know Your Customer/Anti-Money Laundering (KYC/AML) directives issued by RBI. The Reserve Bank of India had issued a
The Reserve Bank of India has imposed a monetary penalty of ₹ 75.00 lakh (Rupees Seventy Five Lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai 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 violations of Know Your Customer/Anti-Money Laundering (KYC/AML) directives issued by RBI. The Reserve Bank of India had issued a
Jan 16, 2017
RBI cancels Certificate of Registration of NBFCs
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following non-banking financial company (NBFC) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Name of the Company Registered Office Address CoR No. Issued On Cancellation Order Date 1. M/s Nupoor Capitals Private Limited 20/A, 1st Floor, Plot No.1646/48, 18, Bhagya Laxmi Building, J.S.S. Marg, Kennedy Bridfe, Girgaon,
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following non-banking financial company (NBFC) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Name of the Company Registered Office Address CoR No. Issued On Cancellation Order Date 1. M/s Nupoor Capitals Private Limited 20/A, 1st Floor, Plot No.1646/48, 18, Bhagya Laxmi Building, J.S.S. Marg, Kennedy Bridfe, Girgaon,
Jan 16, 2017
RBI extends Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh till July 06, 2017
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of six months from January 07, 2017 to July 06, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto January 06, 2017. The same has further been extended upto July 06, 20
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of six months from January 07, 2017 to July 06, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto January 06, 2017. The same has further been extended upto July 06, 20
Jan 16, 2017
NBFC surrender their Certificate of Registration to RBI
The following NBFC has 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 Aeonian Investments Company Limited N.K.Mehta International House, 178, Backbay
The following NBFC has 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 Aeonian Investments Company Limited N.K.Mehta International House, 178, Backbay
Jan 11, 2017
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 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 Jai Matadi Finance Company Limited 36-A, Bentick Street, 2nd Fl
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 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 Jai Matadi Finance Company Limited 36-A, Bentick Street, 2nd Fl
Jan 11, 2017
RBI cancels Certificate of Registration of 7 NBFCs
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following non-banking financial companies (NBFCs). The Reserve Bank, in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Name of the Company Registered Office Address CoR No. Issued On Cancellation Order Date 1 M/s Virk Hire Purchase Limited 88, Kapurthala Road, Jalandhar – 144008 (Punjab) A-06.00467 June 08, 2007 November
The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following non-banking financial companies (NBFCs). The Reserve Bank, in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Name of the Company Registered Office Address CoR No. Issued On Cancellation Order Date 1 M/s Virk Hire Purchase Limited 88, Kapurthala Road, Jalandhar – 144008 (Punjab) A-06.00467 June 08, 2007 November
Jan 10, 2017
RBI extends Directions issued to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal
The Reserve Bank of India has extended directions issued to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal, for a further period of six months with partial modifications namely: (i) A sum not exceeding ₹ 50,000/- may be allowed to be withdrawn by depositor, provided that wherever such depositor is having liability to the bank in any manner, i.e. either as a borrower or surety, including loans against the bank deposits, the amount may be adjusted fir
The Reserve Bank of India has extended directions issued to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal, for a further period of six months with partial modifications namely: (i) A sum not exceeding ₹ 50,000/- may be allowed to be withdrawn by depositor, provided that wherever such depositor is having liability to the bank in any manner, i.e. either as a borrower or surety, including loans against the bank deposits, the amount may be adjusted fir
Jan 06, 2017
RBI Imposes Monetary Penalty on Lakshmi Vilas Bank
The Reserve Bank of India has imposed a monetary penalty of ₹ 30 million on Lakshmi Vilas Bank Ltd. (LVB) for contravention of instructions relating to opening and operation of current accounts, extending bill discounting facilities to non-constituents and walk-in customers and non-adherence to KYC norms. This penalty has been imposed in exercise of powers vested in the Reserve Bank under the provisions of Section 47(A)(1)(c) read with Section 46(4)(i) of the Banking
The Reserve Bank of India has imposed a monetary penalty of ₹ 30 million on Lakshmi Vilas Bank Ltd. (LVB) for contravention of instructions relating to opening and operation of current accounts, extending bill discounting facilities to non-constituents and walk-in customers and non-adherence to KYC norms. This penalty has been imposed in exercise of powers vested in the Reserve Bank under the provisions of Section 47(A)(1)(c) read with Section 46(4)(i) of the Banking
Jan 06, 2017
RBI extends Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur Uttar Pradesh
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of six months from January 07, 2017 to July 06, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto January 06, 2017. The same has further been extended upto July 06, 20
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of six months from January 07, 2017 to July 06, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto January 06, 2017. The same has further been extended upto July 06, 20
Jan 05, 2017
Clarification regarding Specified Bank Notes (SBNs)
There had been various estimates on SBNs tendered in certain sections. We would like to clarify that the periodical SBN figures released by us were based on aggregation of accounting entries done at the large no of Currency Chests all over the country. Now that the Scheme has come to an end on December 30, 2016, these figures would need to be reconciled with the physical cash balances to eliminate accounting errors/ possible double counts etc. RBI has already initiate
There had been various estimates on SBNs tendered in certain sections. We would like to clarify that the periodical SBN figures released by us were based on aggregation of accounting entries done at the large no of Currency Chests all over the country. Now that the Scheme has come to an end on December 30, 2016, these figures would need to be reconciled with the physical cash balances to eliminate accounting errors/ possible double counts etc. RBI has already initiate
Jan 04, 2017
RBI extends Direction issued to the Amanath Co-operative Bank Ltd., Bengaluru
It is hereby notified for information of public that the Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the directive dated April 1,2013 read with subsequent directives, last being dated June 29,2016 issued to the Amanath Cooperative Bank Ltd, Bengaluru for a further period of six months. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub section (1) of Section 35A
It is hereby notified for information of public that the Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the directive dated April 1,2013 read with subsequent directives, last being dated June 29,2016 issued to the Amanath Cooperative Bank Ltd, Bengaluru for a further period of six months. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub section (1) of Section 35A
Dec 31, 2016
RBI introduces Facility for Citizens and NRIs who were Abroad for Exchange of SBNs
The Reserve Bank of India has introduced a facility of exchange of specified bank notes (SBNs) to give an opportunity to Indian citizens and non resident Indian (NRI) citizens who were abroad during November 9, 2016 to December 30, 2016. Resident Indian citizens who were abroad during November 9, 2016 to December 30, 2016 can avail this facility upto March 31, 2017 and Non Resident Indian citizens who were abroad during November 9, 2016 to December 30, 2016 can avail
The Reserve Bank of India has introduced a facility of exchange of specified bank notes (SBNs) to give an opportunity to Indian citizens and non resident Indian (NRI) citizens who were abroad during November 9, 2016 to December 30, 2016. Resident Indian citizens who were abroad during November 9, 2016 to December 30, 2016 can avail this facility upto March 31, 2017 and Non Resident Indian citizens who were abroad during November 9, 2016 to December 30, 2016 can avail
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