The Reserve Bank of India

New Delhi, June 20,2024. The Reserve Bank of India (RBI) has cancelled the licence of The City Co-operative Bank Ltd, Mumbai as “the bank does not have adequate capital and earning prospects”. “Consequently, the bank ceases to carry on banking business, with effect from the close of business on June 19, 2024. The Commissioner for…

Mumbai, May 31, 2024. The Reserve Bank of India (RBI) on Friday said it has imposed a penalty of Rs 88.70 lakh on SBM Bank (India) for non-compliance with certain regulatory norms. In a statement, the central banks said the penalty has been imposed for non-compliance with licensing conditions imposed by the RBI, and specific…

New Delhi, May 20, 2024. The Reserve Bank of India (RBI) is expected to transfer a substantial dividend, possibly around Rs 1 lakh crore, to the government, significantly higher than last year’s payout, reported The Economic Times. Recently, the RBI announced a significant reduction in the government’s borrowing through Treasury Bills, cutting the anticipated funds…

Jaipur, May 01, 2024. The Reserve Bank of India has updated its “guidance note” on operational risk management for the financial sector, and also extended it to the non-banking financial companies (NBFCs), including housing finance companies. The 2005 ‘Guidance Note on Management of Operational Risk’ covered only commercial banks. The RBI said all regulated entities…

New Delhi, April 29, 2024. The Reserve Bank of India has proposed that banks and non-banking finance companies (NBFCs) should ensure that their loan service providers (LSPs) to provide a digital view of all the loan offers available to the borrower from all the willing lenders that the LSP has arrangements. The digital view, the…