India, March 21 -- The Government of India has issued a release: The Government of India has introduced Credit Guarantee Scheme for Microfinance Institutions-2.0 (CGSMFI-2.0). The scheme aims to provide guarantee cover to Banks/ FIs through National Credit Guarantee Trustee Company Limited (NCGTC) against expected losses on the financial assistance extended by them to Non-Banking Financial Company-Microfinance Institutions (NBFC-MFIs) and MFIs for on lending to small borrowers. Salient feature...
India, March 21 -- The Government of India has issued a release: Union Minister for Environment, Forest and Climate Change, Shri Bhupender Yadav, chaired the 45th Meeting of the Central Zoo Authority held today at the Indira Gandhi National Forest Academy, Dehradun. During meeting progress of second cycle of Management Effectiveness Evaluation of zoos was reviewed. Following decisions were taken in the meeting were as mentioned below: Publication titled 'Care in Captivity: A compendium to sho...
MUMBAI, India, March 23 -- Reserve Bank of India issued the following press release: On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Tuesday, March 24, 2026, as under: Sl. No. Notified Amount (₹ crore) Tenor (day) Window Timing Date of Reversal 1 1,00,000 3 9:30 AM to 10:00 AM March 27, 2026 (Friday) 2. The operational guidelines for the auction will be same as given in Reserve Bank's Press Release 202...
MUMBAI, India, March 23 -- Reserve Bank of India issued the following press release: Reserve Bank of India had onJuly 30, 2025, imposed All Inclusive Directions (AID) on Irinjalakuda Town Co-operative Bank Ltd. The Reserve Bank subsequently superseded the bank's Board for a period of 12 months and appointed an Administrator and a Committee of Advisors (CoA) as announced videPress Release dated October 07, 2025 and vide Press Release dated November 13, 2025. The present Administrator Shri Raju ...
MUMBAI, India, March 23 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated March 20, 2026, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Tanur Co-operative Urban Bank Limited, Kerala (the bank) for non-compliance with certain directions issued by RBI on 'Know Your Customer (KYC)'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read ...
MUMBAI, India, March 23 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated March 20, 2026, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on The Kodagu District Co-operative Central Bank Limited, Karnataka (the bank) for contravention of provisions of Section 20 read with Section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers conferred on RBI under the provi...
MUMBAI, India, March 23 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated March 20, 2026, imposed a monetary penalty of ₹1 lakh (Rupees One Lakh only) on The Mysore and Chamarajnagar District Co-operative Central Bank Limited, Karnataka (the bank) for contravention of provisions of Section 19 read with Section 56 of the Banking Regulation Act, 1949 (BR Act) and non-compliance with certain directions issued by RBI on 'Know Y...
MUMBAI, India, March 23 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated March 16, 2026, imposed a monetary penalty of ₹30,000/- (Rupees Thirty Thousand Only) on Vedvyas Finance Private Limited, Odisha (Company) for non-compliance with certain -directions issued by RBI on 'Governance'. This penalty has been imposed in exercise of powers conferred on RBI under Section 58G(1)(b) read with Section 58B(5)(aa) of the Reserve Ba...
MUMBAI, India, March 23 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated March 11, 2026, imposed a monetary penalty of ₹30,000/- (Rupees Thirty Thousand only) on Loknete R.D. Appa, Kshirsagar Sahakari Bank Ltd., Niphad, Maharashtra (the bank), for non-compliance with certain directions issued by RBI on 'Loans and advances to directors, their relatives, and firms / concerns in which they are interested' and contravention of...
MUMBAI, India, March 23 -- Reserve Bank of India issued the following press release: The Reserve Bank of India (RBI) has, by an order dated March 17, 2026, imposed a monetary penalty of ₹50,000/- (Rupees Fifty Thousand only) on The Pali District Central Co-operative Bank Ltd., Rajasthan (the bank) for non-compliance with certain directions issued by RBI on 'Know Your Customer (KYC)'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1...