Act 2015
Banking Act (Act 3 of 2015)
Issued by Eastern Caribbean Central Bank
Effective: 12 Nov 2015
Plain-English summary
Regulates banking business, creates a single banking space and repeals the earlier Banking Act, Cap. 12.01. It covers licensing by the Central Bank (Part 2), capital, liquidity and exposure limits (Part 5), audited financial statements due within 3 months of year-end (s.69), remedial action, official administration and receivership, and administrative penalties (s.179).
Who it applies to
Banking
Topics
Prudential & Capital Corporate Governance
Latest news
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RBI extends supervisory directions for Industrial Co-operative Bank Ltd.
3 Oct 2026
The Reserve Bank of India has extended supervisory directions issued to The Industrial Co-operative Bank Ltd., Guwahati under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The original directive…
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RBI finalizes Basel III market risk capital requirements for banks
26 Sep 2026
The Reserve Bank of India has issued final Directions on minimum capital requirements for market risk under the revised Basel III framework, effective April 1, 2027. The framework adopts the Simplified Standardised…
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RBI penalizes gold-loan fintech KLM Axiva Finvest Limited for auction surplus non-payment
26 Sep 2026
The Reserve Bank of India imposed a monetary penalty of ₹2.70 lakh on KLM Axiva Finvest Limited for regulatory non-compliance discovered during statutory inspection. The company failed to remit surplus amounts to…