Supreme Court: Vacancies From Resignations under CUSAT Act Must Follow Communal Rotation  ||  Supreme Court: Forest Land Cannot Be Leased or Used For Agriculture Without Centre’s Approval  ||  Supreme Court: Gravity of Offence and Accused’s Role Must Guide Suspension of Sentence under CrPC  ||  Supreme Court: Arbitral Awards Cannot be Set Aside For Mere Legal Errors or Misreading of Evidence  ||  SC Acknowledges Child Trafficking as a Grave Reality and Issues Guidelines to Assess Victim Evidence  ||  Allahabad HC: When Parties Extend an Agreement by Conduct, The Arbitration Clause Extends Too  ||  Supreme Court: Issues of Party Capacity and Maintainability Must Be Decided by Arbitral Tribunal  ||  Supreme Court: Omissions in Chief Examination Can Be Rectified During Cross-Examination  ||  Supreme Court: Items Given by Accused to Police Are Not Section 27 Recoveries under Evidence Act  ||  Gujarat High Court: Waqf Institutions Must Pay Court Fees When Filing Disputes in State Tribunal    

UBS AG no longer a banking company- (Reserve Bank of India) (19 May 2016)

MANU/RMIC/0078/2016

Banking

The Reserve Bank of India notified USB AG, the Swiss multinational financial services firm, to have ceased being a ‘banking company’ under the Banking Regulation Act 1949.

Though reasons for the same have not been provided, RBI’s feud with UBS over non-cooperation in untangling multinational, allegedly fraudulent, transactions may have played a part.

Relevant : UBS’ exclusion from 2nd Sch. To RBI Act MANU/RMIC/0080/2016

Tags : UBS   SWISS   BANKING COMPANY   BANKING ACT  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved