Search For "banking regulation act 1949"
RBI imposes penalty of Rs 4 cr on Citibank
Updated : 6 years ago IST
New Delhi [India], May 30 (ANI): The Reserve Bank of India (RBI) on Friday said that it has imposed a monetary penalty of Rs 4 crore on Citibank for the contravention of Section 10 (1) (b) (ii) of Banking Regulation Act, 1949 (the Act).
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RBI imposes penalty on United Overseas Bank Limited
Updated : 6 years, 8 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 Thakur
Updated : 6 years, 8 months 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 cancels banking license of Sojitra Co-operative Bank for unsatisfactor
Updated : 8 years, 9 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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