Get Bank IFSC & MICR codes here.
[ad_1]
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: July 02, 2021: 134 Ajit Prasad Press Release : 2021-2022/533 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[ad_2]
[ad_1]
|
The Government of India has announced the sale (re-issue) of Government Stock detailed below through auctions to be held on July 16, 2021. As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under:
The underwriting auction will be conducted through multiple price-based method on July 16, 2021 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E-Kuber) System between 09:00 A.M. and 09:30 A.M. on the date of underwriting auction. The underwriting commission will be credited to the current account of the respective PDs with RBI on the date of issue of securities. Ajit Prasad Press Release: 2021-2022/532 |
||||||||||||||||||||||||
[ad_2]
[ad_1]
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[ad_2]
[ad_1]
|
The Reserve Bank of India (RBI) has today imposed restrictions on Mastercard Asia / Pacific Pte. Ltd. (Mastercard) from on-boarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021. Notwithstanding lapse of considerable time and adequate opportunities being given, the entity has been found to be non-compliant with the directions on Storage of Payment System Data. This order will not impact existing customers of Mastercard. Mastercard shall advise all card issuing banks and non-banks to conform to these directions. The supervisory action has been taken in exercise of powers vested in RBI under Section 17 of the Payment and Settlement Systems Act, 2007 (PSS Act). Mastercard is a Payment System Operator authorised to operate a Card Network in the country under the PSS Act. Background In terms of RBI circular on Storage of Payment System Data dated April 6, 2018, all System Providers were directed to ensure that within a period of six months the entire data (full end-to-end transaction details / information collected / carried / processed as part of the message / payment instruction) relating to payment systems operated by them is stored in a system only in India. They were also required to report compliance to RBI and submit a Board-approved System Audit Report conducted by a CERT-In empanelled auditor within the timelines specified therein. (Yogesh Dayal) Press Release: 2021-2022/530 |
[ad_2]
[ad_1]
[ad_2]
[ad_1]
|
The Banking Regulation (Amendment) Act, 2020 (No. 39 of 2020), notified in the Gazette of India on September 29, 2020 (vide Notification No. 64 of that date), and deemed to have come into force with effect from June 29, 2020 for Primary (Urban) Co-operative Banks (UCBs), has inter alia, made amendments in the Section 12 of the Banking Regulation Act, 1949 read with Section 56 thereof. In view of the changes mandated by the said amendments, the Reserve Bank of India has released today, the Draft Circular on ‘Issue and regulation of share capital and securities – Primary (Urban) Co-operative Banks’. Comments on the Draft Circular are invited from UCBs, sector participants and other interested parties by August 31, 2021. As the provisions of the amended Banking Regulation Act, 1949 have come into force for State Co-operative Banks (StCBs) and District Central Co-operative Banks (DCCBs) from April 01, 2021, comments on the Draft Circular are also invited from StCBs / DCCBs, rural co-operative banking sector participants and other interested parties, as to whether a similar approach on issue and regulation of share capital and securities is warranted for StCBs / DCCBs. Feedback on the Draft Circular may be forwarded by email with the subject line “Feedback on Draft circular on issue and regulation of share capital and securities – Primary (Urban) Co-operative Banks”. (Yogesh Dayal) Press Release: 2021-2022/527 |
[ad_2]
[ad_1]
[ad_2]
[ad_1]
|
Today, the Reserve Bank of India (RBI) has, vide order dated July 12, 2021 cancelled the license of Dr. Shivajirao Patil Nilangekar Urban Co-operative Bank Limited, Nilanga, Dist. Latur, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on July 14, 2021. The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the license of the bank as:
2. Consequent to the cancellation of its license, Dr. Shivajirao Patil Nilangekar Urban Co-operative Bank Limited, Nilanga, Dist. Latur, Maharashtra is prohibited from conducting the business of ‘banking’ which includes acceptance of deposits and repayment of deposits as defined in Section 5 (b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect. (Yogesh Dayal) Press Release: 2021-2022/526 |
[ad_2]
[ad_1]
[ad_2]
[ad_1]
[ad_2]