Search For "banking regulation act"
RBI imposes penalty on United Overseas Bank Limited
Updated : 6 months ago IST
New Delhi [India], Oct 3 (ANI): Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on United Overseas Bank Limited (UOB) for its failure to comply with the provisions of Section 10B of the Banking Regulation Act, 1949.
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Decision on PMC bank important for compliance: MoS Finance Anurag
Updated : 6 months, 2 weeks ago IST
New Delhi [India], Sept 25 (ANI): Minister of State for Finance Anurag Thakur on Wednesday said that RBI's decision on the Punjab and Maharashtra Cooperative Bank (PMC Bank) to ensure compliance was necessary but steps should be taken so that the stakeholders are not inconvenienced.
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RBI slaps Rs.3 Cr monetary penalty on IDBI bank
Updated : 1 year, 12 months ago IST
Mumbai (Maharashtra) [India], Apr. 12 (ANI): The Reserve Bank of India (RBI) imposed monetary penalty worth Rs. 3 crore on IDBI Bank for not complying with the outlined norms related to reporting of bad loans.
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RBI imposes monetary penalty worth Rs 58.9 crore on ICICI Bank
Updated : 2 years ago IST
New Delhi [India], Mar 29 (ANI): In a rare move, The Reserve Bank of India (RBI) on Thursday imposed monetary penalty worth Rs. 58.9 crore on ICICI Bank, the country's biggest private bank, for failing to abide by rules on the sale of bonds in the held-to-maturity (HTM) category.
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RBI imposes Rs.30 million-penalty on Axis Bank
Updated : 2 years, 1 month ago IST
Mumbai (Maharashtra) [India], Mar. 5 (ANI): The Reserve Bank of India (RBI) imposed a monetary penalty worth Rs. 30 million on Axis Bank Limited (the bank) for non-compliance with the directions issued on Income Recognition and Asset Classification (IRAC) norms.
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RBI charges fine on IOB over non-compliance with KYC norms
Updated : 2 years, 1 month ago IST
Mumbai (Maharashtra) [India], Mar. 5 (ANI): The Reserve Bank of India (RBI) imposed a monetary penalty of Rs.20 million on Indian Overseas Bank for non-compliance with the directions issued by the former regarding Know Your Customer (KYC) norms.
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Centre notifies new Banking Regulation Act
Updated : 2 years, 7 months ago IST
New Delhi [India], May 5 (ANI): The Narendra Modi-led government on Friday notified the ordinance to amend the Banking Regulation Act, empowering the Reserve Bank of India (RBI) and banks to initiate bankruptcy proceedings against chronic defaulters.
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RBI issues directions on Alwar Urban Co-operative Bank
Updated : 2 years, 7 months ago IST
New Delhi [India], Mar 9 (ANI): The Reserve Bank of India on Thursday notified an issue to Alwar Urban Co-operative Bank under sub-section (1) of Section 35A of the Banking Regulation Act, restricting the bank to grant or renew any loans and advances, make any investment, incur any liability
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RBI cancels banking license of Sojitra Co-operative Bank for unsat
Updated : 2 years, 7 months ago IST
New Delhi [India], Feb 15 (ANI): The Reserve Bank of India (RBI) on Wednesday announced the cancellation of license and conversion of the Sojitra Co-operative Bank Ltd., Dist. Anand (Gujarat) under Banking Regulation Act, 1949 (AACS) for unsatisfactory financials and compliance record.
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