Law Related to NPA & possession under SARFAESI ACT 2002

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 is an incredible instrument in the possession of the banks and Financial Institutions (FIs) as lenders. This Act assists them with upholding protections held as security to credits dispensed by them should such advances turn out as non-performing assets (NPAs) during the […]

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RBI cautions the public not to fall prey to fictitious offers of buying/ selling of Old Banknotes and Coins

It has come to the notice of Reserve Bank of India that certain elements are fraudulently using the name/ logo of Reserve Bank of India, and seeking charges/ commission/ tax from public, in transactions related to buying and selling of old banknotes and coins through various online/ offline platforms. It is clarified that Reserve Bank […]

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RBI imposes monetary penalty on Nagarik Sahakari Bank Limited Rs. 7 Lacs, Bhiwandi, Maharashtra

The Reserve Bank of India (RBI) has imposed, by an order dated August 04, 2021, a monetary penalty of ₹7 lakh (Rupees Seven lakh only) on Nagarik Sahakari Bank Limited, Bhiwandi, Thane, Maharashtra (the bank) for contravention of/ non-compliance with directions issued by RBI on Exposure Norms and Statutory / Other Restrictions- UCBs and Know Your […]

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