The Reserve Bank of India (RBI) has issued new directions to banks, effective from October 1, 2025, covering interest rate on advances, lending against gold and silver collateral, and capital regulations.
The Reserve Bank of India (RBI) has imposed monetary penalties on three non-banking financial companies (NBFCs) for regulatory lapses and non-compliance with various RBI directives.
According to a press release, the penalty was levied due to the bank's failure to comply with RBI directives concerning 'Income Recognition, Asset Classification, Provisioning, and Other Related Matters.'
According to RBI, this penalty, enacted through an order dated December 14, 2023, has been imposed due to the bank's non-compliance with RBI directives on 'Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs),' 'Reserve Bank of India (Know Your Customer (KYC))
According to RBI, the penalty, dated December 13, 2023, has been enforced due to the bank's non-compliance with RBI directives concerning the 'Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs)' and violations of Section 26A(2) read with Section 56 of the Ban