Date : Mar 07, 201 Reserve Bank of India imposes monetary penalty on State Bank of India The Reserve Bank of India (RBI) has imposed, on March 01, 2018, a monetary penalty of ₹ 4 million on State Bank of India (the bank) for non-compliance with the directions issued by RBI on Detection and Impounding […]...
Press Release: 2017-2018/2355 & Press Release: 2017-2018/2354 -
RBI has imposed, on February 27, 2018, a monetary penalty of ₹ 20 million on Indian Overseas Bank (the bank) for non-compliance with the directions issued by RBI on Know Your Customer (KYC) norms. 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...
Press Release : 2017-2018/2249 -
Central Board of Directors of RBI, to look into the reasons for high divergence observed in asset classification and provisioning by banks vis-à-vis the RBI’s supervisory assessment, and the steps needed to prevent it; factors leading to an increasing incidence of frauds in banks and the measures (including IT interventions) needed to ...
Press Release: 2017-2018/2233 -
There have been reports in the media that in the wake of fraud involving a sum of USD 1.77 billion that has surfaced in Punjab National Bank (PNB), the Reserve Bank of India (RBI) has directed PNB to meet its commitments under the Letter of Undertaking (LOU) to other banks. RBI denies having given any such instructions....
Press Release: 2017-2018/2166 -
It has come to the notice of the Reserve Bank of India that a fake website of the Reserve Bank of India has been created with the URL www.indiareserveban.org by some unknown person(s). ...
Press Release: 2017-2018/1848 -
The Reserve Bank of India will shortly issue Rs. 10 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has motif of Sun Temple, Konark on the reverse, depicting the country's cultural heritage. The base colour of the note is Chocolate Br...
Press Release No.: 68/2017 -
In order to augment the governance of Credit Rating Agencies (CRAs) registered with SEBI and mitigate the issues of conflict of interest, SEBI Board has approved certain changes in the SEBI (Credit Rating Agencies) Regulations, 1999...
Press Release: 2017-2018/1719 -
Reserve Bank of India has come across some misinformed communication circulating in some section of media including social media, about closure of some Public Sector Banks in the wake of their being placed under the Prompt Corrective Action (PCA) framework. In this context attention is drawn to the press release issued on June 5, 2017, wh...
Press Release No. 2017-2018/1676 -
The Reserve Bank of India, today, released the Annual Report of the Banking Ombudsman Scheme for the year 2016-2017....
Press Release No. 2017-2018/1467 -
It has come to the notice of Reserve Bank of India (RBI) that some Co-operative Societies are using the word Bank in their names. This is a violation of Section 7 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) (the B.R.Act, 1949)....