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

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 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

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

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

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 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 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

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

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