**Summary:**
RBI Circular RBI201516404 DBR.No.Ret.BC.10012.07.124A201516, issued on May 19, 2016, informs all Scheduled Commercial Banks that UBS AG has ceased to be a banking company within the meaning of subsection 2 of Section 36A of the Banking Regulation Act, 1949. This cessation is effective as per Notification DBR.IBD.No.771523.13.062201516 dated January 12, 2016, and published in the Gazette of India Part III Section 4, dated February 27 - March 04, 2016. The circular is issued by M.G. Suprabhat, Deputy General Manager, Department of Banking Regulation, Central Office, Centre 1, Cuffe Parade, Colaba, Mumbai 400005. Contact information includes Tel No: 912222189131, Fax No: 02222150772, and Email ID: cgmicdbr@rbi.org.in. The circular also includes a standard caution that the RBI does not request personal information or offer funds to the public.
Key Entities Referenced
UBS AG: A banking company that has ceased to be a banking company within the meaning of the Banking Regulation Act, 1949.
Banking Regulation Act, 1949: An act of the Indian Parliament regulating the banking industry in India.
All Scheduled Commercial Banks: Addressees of the RBI circular.
DBR.IBD.No.771523.13.062201516: Notification number related to UBS AG ceasing to be a banking company.
M.G. Suprabhat: Deputy General Manager at Department of Banking Regulation, Reserve Bank of India
Department of Banking Regulation: The department within the Reserve Bank of India issuing the notification.
Mumbai, Maharashtra: City and state where the Central Office of the Department of Banking Regulation is located.
Reserve Bank of India: India's central bank, also known as RBI
RBI/2015-16/404
DBR.No.Ret.BC.100/12.07.124A/2015-16
May 19, 2016
All Scheduled Commercial Banks
Dear Sir,
Cessation of UBS AG as a banking company within the meaning of
sub-section (2) of Section 36(A) of the Banking Regulation Act, 1949
We advise that the “UBS AG” has ceased to be a banking company within the
meaning of the Banking Regulation Act, 1949 vide Notification
DBR.IBD.No.7715/23.13.062/2015-16 dated January 12, 2016 and published in
the Gazette of India (Part III-Section 4) dated February 27 – March 04, 2016.
Yours faithfully,
(M.G. Suprabhat)
Deputy General Manager
ब��कंग �व�नयमन �वभाग, क�द्र�य कायार्लय, स�टर 1, कफ परेड, कोलाबा, मुंबई - 400005
Department of Banking Regulation,Central Office, Centre 1, Cuffe Parade, Colaba, Mumbai - 400005
’½¹¥¸ûÅø›¸ /Tel No: 91-22-22189131 फैकस नं./Fax No: 022-22150772 Email ID:cgmicdbr@rbi.org.in
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"Caution: RBI never sends mails, SMSs or makes calls asking for personal information like bank account details, passwords, etc. It never keeps
or offers funds to anyone. Please do not respond in any manner to such offers."