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

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

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 (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

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

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 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, 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 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. Jagrati Trade Services Private Limited 3A, Shakespeare Sarani, 8th Floor, Kolkata

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 March 25, 2019 and is valid upto September 30, 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 i