Reserve Bank of India – Press Releases
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The Result of the auction of State Development Loans for 10 State Governments held on March 30, 2021.
Ajit Prasad Press Release: 2020-2021/1319 |
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Get Bank IFSC & MICR codes here.
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The Result of the auction of State Development Loans for 10 State Governments held on March 30, 2021.
Ajit Prasad Press Release: 2020-2021/1319 |
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The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on Shri Janata Sahakari Bank Ltd., Halol (Gujarat) (the bank) for contravention of directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Background The statutory inspection of the bank based on its financial position as on March 31, 2019, revealed, inter alia, contravention of/ non-compliance with the directions issued by RBI on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’, ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’ and Reporting of ‘Advances Granted to Directors and their Relatives by the Primary (Urban) Co-operative Banks’ to RBI. Based on the same, a Notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the RBI directions. After considering the bank’s reply and oral submissions made during the personal hearing, RBI came to the conclusion that the charges regarding non-compliance with “RBI directions on ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ and ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’”, were substantiated and warranted imposition of monetary penalty. (Yogesh Dayal) Press Release: 2020-2021/1318 |
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The Reserve Bank of India (RBI) has imposed, by an order dated March 26, 2021, a monetary penalty of ₹2.00 lakh (Rupees two lakh only) on Akhand Anand Co-operative Bank Ltd., Surat (Gujarat) (the bank) for contravention of directions issued by RBI on (i) ‘Loans and advances to directors, relatives and firms /concerns in which they are interested’ read with ‘Loans and advances to directors etc. – directors as surety/guarantors – Clarification’, (ii) ‘Maintenance of Statutory Reserves – Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) by Primary (Urban) Co-operative Banks’ and (iii) ‘Declaration of dividend by UCBs’. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) and Section 56 of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Background The statutory inspections of the bank based on its financial position as on March 31, 2018 and March 31, 2019, revealed, inter alia, contravention of/ non-compliance with the above mentioned directions issued by RBI. Based on the same, notices were issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the directions. After considering the bank’s reply and oral submissions made during the personal hearing, RBI came to the conclusion that the aforesaid charges regarding non-compliance with RBI directions were substantiated and warranted imposition of monetary penalty. (Yogesh Dayal) Press Release: 2020-2021/1317 |
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The expression ‘ Banking System ‘ or ‘ Banks ‘ means the banks and any other financial institution referred to in sub-clauses (i) to (vi) of clause (d) of the explanation below Section 42(1) of the Reserve Bank of India Act, 1934. No. of Scheduled Commercial Banks as on Current Fortnight:133 Ajit Prasad Press Release: 2020-2021/1316 |
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Ajit Prasad Press Release: 2020-2021/1315 |
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Ajit Prasad Press Release: 2020-2021/1314 |
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Ajit Prasad Press Release: 2020-2021/1313 |
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The above information can be accessed on Internet at https://wss.rbi.org.in/ The concepts and methodologies for WSS are available in Handbook on WSS (https://rbi.org.in/scripts/PublicationsView.aspx?id=15762). Time series data are available at https://dbie.rbi.org.in Ajit Prasad Press Release: 2020-2021/1310 |
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