3. Definition under the Reserve Bank of India Act, 1934 Section 45A of the RBI Act defines a banking company as: “A banking company as defined in Section 5 of the Banking Regulation Act, 1949, and ...

The Reserve Bank of India (RBI) on Wednesday announced that it has lifted supervisory restrictions imposed on Kotak Mahindra Bank, thereby allowing the Bank to resume onboarding new customers ...

the RBI said a monetary penalty worth ₹1 crore was imposed on the public sector bank (PSB) Bank of India for non-compliance with certain provisions of the Banking Regulation Act of 1949.

“The bank has been fined for its failure to comply with the provisions of Section 9 and Section 26A of the Banking Regulation Act, 1949,” RBI said in a statement on Friday. The action was ...

and the online and digital banking channels. In response to the curbs, Kotak Mahindra pledged to adopt new technologies to strengthen its IT systems and enhance cooperation with the RBI.

As per RBI data, the banking system’s liquidity deficit stood at Rs 1.96 lakh crore on Tuesday. “Liquidity continued to remain in the deficit zone, but the tightness eased, driven by CRR ...

The banking system has been facing a severe liquidity deficit since December. Total money created by the RBI—or base money—grew by 3.5% (year-on-year) in the week ending 24 January ...

It noted that in terms of the provisions of Section 12 (1) (i) of the Banking Regulation Act, 1949 (“BR Act”), the ... is subject to approval of the RBI and the shareholders of the bank.

The RBI has appointed former SBI CGM Shreekant ... the representation as provided under section 35A (2) (of Banking Regulation Act) for either modification or cancellation of these directions ...

The RBI may not quite get out of the way as the Economic Survey recommended, but it has promised to think harder. The RBI’s monetary policy seems to mark a significant change in direction ...