The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following five Non-Banking Financial Companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Company's Name Address of Registered Office Certificate of Registration No. Issued On Date of cancellation 1. M/s Cygnus Publishers Limited 21A, Shakespeare Sarani, Kolkata-700017 B.05.05850 September 12, 2011 March 28

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 Lords Steel Industries Limited 10A, Middleton Row, 2nd Floor, Kolkata-700071 1

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹ 5 lakh on M/s Kosamattam Finance Ltd. (the company) under section 58G(1)(b) read with sub-section 5(aa) of section 58B of the RBI Act, 1934 for violation of directions/orders issued by Reserve Bank of India from time to time. Background An inspection of the books and accounts of the company was conducted under section 45N of Reserve Bank of India Act, 1934 (the RBI Act, 1934) during August, 2016. It w

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. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1 M/s Pace Properties Private Limited 8, Amartolla Street, 4th Floor, Room No 405, Kolkata-700001 B.05.06270 March 19, 2004 March 26, 2018 2 M/s Mahajan Vayapar Private Limited 71, B.R

The Reserve Bank of India has imposed a monetary penalty of ₹ 2,50,000/- (Rupees Two Lakh Fifty Thousand only) on The Secunderabad Co-operative Urban Bank Ltd., Hyderabad, Telangana, in exercise of the powers vested in it under the provisions of Section 47A (1) (a) and (c) read with Section 46 (2) and (4) of The Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of Reserve Bank of India instructions/guidelines on Installation of Auto

The Reserve Bank of India has imposed a monetary penalty of ₹ 5,00,000/- (five lakh rupees only) on 510 Army Base Workshop Credit Co-operative Primary Bank Ltd., Meerut Cantt. 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 on Submission of Proper Compliance on Time, Prudential Norms on Inter-b

The Reserve Bank of India has imposed a monetary penalty of ₹ 50,000/- (Rupees Fifty Thousand only) on The Kuppam Co-operative Town Bank Ltd., Kuppam, 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 provision of Section 27(2) of the Act ibid. The Reserve Bank of India had issued a show cause notice

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to: increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.25 per cent. Consequently, the reverse repo rate under the LAF stands adjusted to 6.0 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 6.50 per cent. The decision of the MPC is consistent with

This Statement sets out various developmental and regulatory policy measures for strengthening regulation and supervision; broadening and deepening financial markets; improving currency and debt management; fostering innovation in payment and settlement system; and, facilitating data management. I. Regulation and Supervision 1. Increase in Liquidity Coverage Ratio (LCR) carve-out from Statutory Liquidity Ratio (SLR) As per the existing roadmap, scheduled commercial ba

The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on Abhyudaya Mahila Urban Co-operative Bank Ltd., Channapatna, in exercise of the powers vested in it under the provisions of Section 47 A (1) (c) read with Section 46 (4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) for violating directives contained in para 3 of Reserve Bank of India Circular No. BPD Cir.50/13.05.00/2002-03 dated April 29,