The Reserve Bank of India (RBI) conducted a Conference of Directors of select Urban Co-operative Banks (UCBs) from the Southern Zone in Hyderabad on January 24, 2024. The event was part of RBI’s ongoing engagement with UCB leadership, following a similar interaction with Directors of large UCBs held in Mumbai in August 2023. The theme of the conference was “Governance in UCBs: Combating Cyber Threats and Enhancing Resilience.”

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹50 lakh on NKGSB Co-operative Bank Ltd. for non-compliance with the Reserve Bank of India (Know Your Customer) Directions, 2016. The order, dated January 12, 2024, was issued under the powers vested in the central bank under the Banking Regulation Act, 1949.

The RBI stated that the action is based on deficiencies in regulatory compliance and does not question the validity of any transaction or agreement entered into by the bank with its customers.

The Reserve Bank of India (RBI) has published a Draft Framework for recognising Self-Regulatory Organisations (SROs) for the FinTech sector, marking a key step toward strengthening oversight while supporting innovation in the rapidly growing industry.

The Reserve Bank of India (RBI) held a high-level meeting with the Managing Directors and Chief Executive Officers of all Credit Information Companies (CICs) as part of its ongoing engagement with supervised entities. The meeting was chaired by Deputy Governor Shri Swaminathan J and attended by Executive Directors and senior officials from the Department of Supervision and the Department of Regulation.

The Reserve Bank of India (RBI) today unveiled a set of developmental and regulatory policy measures aimed at strengthening financial markets, enhancing regulatory frameworks, and fostering innovation in the fintech and payment sectors.