Objective: To impart clarity on the Counterparty Credit Risk (CCR) framework and align the add-on factors for the computation of Potential Future Exposure (PFE) under the Current Exposure Method (CEM) with the Basel Committee on Banking Supervision (BCBS) international guidelines. 1. Commercial Banks Applicable Entity: All Commercial Banks (excluding Local Area Banks and Regional Rural […]
Subject: Review of Framework for Limiting Customer Liability in Digital Transactions. Effective Date: July 1, 2026 The Reserve Bank of India has issued draft amendment directions to overhaul the customer protection framework in electronic banking. The amendments significantly expand the definition of “unauthorised transactions” (including scams and coercion), mandate strict alert mechanisms, reduce grievance resolution
1. Executive Summary The Reserve Bank of India (RBI) has issued a press release announcing the extension of regulatory directions imposed on The Amanath Co-operative Bank Ltd., Bangalore. Initially enforced under Section 35A read with Section 56 of the Banking Regulation Act, 1949, on June 12, 2024, the operational and financial restrictions have now been
1. Executive Summary The Reserve Bank of India (RBI) has imposed a monetary penalty on Maanaveeya Development & Finance Private Limited for non-compliance with the RBI’s ‘Governance’ directions. The penalty was levied under the powers conferred on the RBI under section 58G(1)(b) read with section 58B(5)(aa) of the Reserve Bank of India Act, 1934. The
1. Key Details of the Penalty Penalty Amount: ₹10,000/- (Rupees Ten Thousand only) Order Date: February 27, 2026 Inspection Reference: Financial position of the bank as on March 31, 2025. Statutory Provision: Section 25 of the Credit Information Companies (Regulation) Act, 2005 (CICRA). Nature of Violation: The bank failed to comply with RBI directions on
Executive Summary Effective March 05, 2026, the Reserve Bank of India (RBI) has enforced the revived cancellation of the banking licence for Shimsha Sahakara Bank Niyamitha (Maddur, Mandya District, Karnataka). The bank is strictly prohibited from conducting any banking business, including accepting or repaying deposits, under Section 5(b) and Section 6 read with Section 56
🔴 LATEST UPDATE (Feb 2026): 4 Masterminds Arrested | ₹583 Crore Fully Refunded by Bank 1. Key Details of the Incident In February 2026, a massive financial irregularity surfaced at IDFC First Bank. Described as “banking’s oldest fraud,” the incident relied entirely on paper-based manipulation and internal collusion rather than a digital cyberattack. Location &
1. Mahindra & Mahindra Financial Services Limited Penalty Amount: ₹11.50 Lakh Date of Order: February 27, 2026 Key Details Violations: Non-compliance with RBI directions on ‘Fair Practices Code’ and ‘Internal Ombudsman for Regulated Entities’. Specific Triggers: The company levied revised foreclosure charges on certain accounts without incorporating a suitable condition in their loan agreements. Furthermore,
1. Key Details of the Incident In February 2026, a massive financial irregularity surfaced at IDFC First Bank, rocking the banking sector. Described by the bank’s management as “banking’s oldest fraud,” the incident relied entirely on paper-based manipulation rather than a digital cyberattack. Location & Entity: IDFC First Bank, Chandigarh Branch. Amount Involved: Approximately ₹590
1. Key Details Bank Name: UCO Bank. Penalty Amount: ₹38.60 lakh (Rupees Thirty-Eight Lakh Sixty Thousand only). Date of Order: February 16, 2026. Trigger for Action: The penalty stems from findings during the Statutory Inspection for Supervisory Evaluation (ISE 2025) conducted by the RBI, which evaluated the bank’s financial position as of March 31, 2025.
