Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Jul 13, 2016
RBI extends Directions issued to the Amanath Co-operative Bank Ltd., Bengaluru
The Reserve Bank of India notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank has issued certain Directions to Amanath Co-operative Bank Ltd., Bengaluru whereby, as from the close of business on April 05, 2013, the aforesaid bank shall not, without prior
The Reserve Bank of India notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank has issued certain Directions to Amanath Co-operative Bank Ltd., Bengaluru whereby, as from the close of business on April 05, 2013, the aforesaid bank shall not, without prior
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Jul 12, 2016
RBI imposes penalty on Shri Anand Co-operative Bank Ltd, Pune
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one Lakh only) on Shri Anand Co-operative Bank Ltd. Pune in exercise of the powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violations of the Instructions / Guidelines of the Reserve Bank of India relating to group borrower limit The Reserve Bank of India had issued a sh
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one Lakh only) on Shri Anand Co-operative Bank Ltd. Pune in exercise of the powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violations of the Instructions / Guidelines of the Reserve Bank of India relating to group borrower limit The Reserve Bank of India had issued a sh
Jul 11, 2016
RBI imposes penalty on The Prathamik Shikshak Sahakari Bank Limited Kolhapur
The Reserve Bank of India has imposed a monetary penalty of ₹ 10.00 lakh (Rupees Ten lakh only) on The Prathamik Shikshak Sahakari Bank Ltd., Kolhapur (Salary Earners’ Bank), in exercise of the powers vested in it under the provision of Section 47A (1) (b) read with Section 46 (4) of the Banking Regulation Act 1949 (As Applicable to Co-operative Societies), for violation of operational instructions relating to declaration and payment of dividend for the financial year
The Reserve Bank of India has imposed a monetary penalty of ₹ 10.00 lakh (Rupees Ten lakh only) on The Prathamik Shikshak Sahakari Bank Ltd., Kolhapur (Salary Earners’ Bank), in exercise of the powers vested in it under the provision of Section 47A (1) (b) read with Section 46 (4) of the Banking Regulation Act 1949 (As Applicable to Co-operative Societies), for violation of operational instructions relating to declaration and payment of dividend for the financial year
Jul 05, 2016
RBI extends Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh till January 06, 2017
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of six months from July 07, 2016 to January 06, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto July 06, 2016. The same has further been extended upto January 06, 20
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of six months from July 07, 2016 to January 06, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto July 06, 2016. The same has further been extended upto January 06, 20
Jul 04, 2016
Cancellation of licence of Jijamata Mahila Sahakari Bank Limited, Satara, Maharashtra to carry on banking business
It is hereby notified for the information of the public that the Reserve Bank of India has, vide its order dated June 30, 2016, cancelled the licence of Jijamata Mahila Sahakari Bank Limited, Satara, Maharashtra to carry on banking business under Section 22 of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) read with Section 56 of Banking Regulation Act, 1949. As such, the bank is forthwith precluded from transacting the business of 'banking
It is hereby notified for the information of the public that the Reserve Bank of India has, vide its order dated June 30, 2016, cancelled the licence of Jijamata Mahila Sahakari Bank Limited, Satara, Maharashtra to carry on banking business under Section 22 of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) read with Section 56 of Banking Regulation Act, 1949. As such, the bank is forthwith precluded from transacting the business of 'banking
Jul 01, 2016
RBI imposes Monetary Penalty on Shri Anand Nagari Sahakari Bank Ltd., Chandrapur (Maharashtra)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on Shri Anand Nagari Sahakari Bank Ltd., Chandrapur, in exercise of powers vested in it under the provisions of Section 47A (1) (b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of various norms and RBI instructions. The Reserve Bank of India had issued a show cause notice to the bank, in response to whic
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on Shri Anand Nagari Sahakari Bank Ltd., Chandrapur, in exercise of powers vested in it under the provisions of Section 47A (1) (b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of various norms and RBI instructions. The Reserve Bank of India had issued a show cause notice to the bank, in response to whic
Jul 01, 2016
RBI extends Directions issued to Shri Sai Urban Co-operative Bank Ltd., Mukhed Dist. Nanded, Maharashtra till September 30, 2016
The Reserve Bank of India has extended Directions issued to Shri Sai Urban Co-operative Bank Ltd., Mukhed, Dist. Nanded (Mahrashtra) for a further period of three months from the close of business as on June 30, 2016 to September 30, 2016, subject to review. The bank was under directions since July 01, 2015. The directions were earlier extended for six month on one occasion. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section
The Reserve Bank of India has extended Directions issued to Shri Sai Urban Co-operative Bank Ltd., Mukhed, Dist. Nanded (Mahrashtra) for a further period of three months from the close of business as on June 30, 2016 to September 30, 2016, subject to review. The bank was under directions since July 01, 2015. The directions were earlier extended for six month on one occasion. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section
Jun 30, 2016
Pricing of credit by NBFC-MFIs- applicable average base rate for the quarter beginning July 01, 2016
It was communicated by Reserve Bank in its circular dated February 7, 2014 issued to NBFC-MFIs regarding pricing of credit, that the average of the base rates of the five largest commercial banks shall be advised by the Bank on the last working day of every quarter, for the purpose of arriving at the interest rates to be charged by an NBFC-MFI to its borrowers in the ensuing quarter. It is hereby brought to the notice of all concerned including the NBFC-MFIs that the
It was communicated by Reserve Bank in its circular dated February 7, 2014 issued to NBFC-MFIs regarding pricing of credit, that the average of the base rates of the five largest commercial banks shall be advised by the Bank on the last working day of every quarter, for the purpose of arriving at the interest rates to be charged by an NBFC-MFI to its borrowers in the ensuing quarter. It is hereby brought to the notice of all concerned including the NBFC-MFIs that the
Jun 24, 2016
RBI issues Directions on The R S Co-operative Bank Ltd., Mumbai, Maharashtra
The R S Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated June 24, 2015 from the close of business on June 26, 2015. The validity of the directions was extended, vide order dated December 21, 2015 for a period of six months. The validity of the directions has been extended for a further period of three months from June 26, 2016 to September 25, 2016 vide our modified directive dated June 22, 2016 su
The R S Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated June 24, 2015 from the close of business on June 26, 2015. The validity of the directions was extended, vide order dated December 21, 2015 for a period of six months. The validity of the directions has been extended for a further period of three months from June 26, 2016 to September 25, 2016 vide our modified directive dated June 22, 2016 su
Jun 24, 2016
RBI imposes penalty on The Industrial Cooperative Bank Ltd., Guwahati
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five lakh only) on The Industrial Cooperative Bank Ltd., Guwahati. In exercise of the powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies), for violation of the provisions of para 4 (i) of circular dated September 18, 2002 on Guidelines on Know Your Customers Norms and Cash Transac
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five lakh only) on The Industrial Cooperative Bank Ltd., Guwahati. In exercise of the powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies), for violation of the provisions of para 4 (i) of circular dated September 18, 2002 on Guidelines on Know Your Customers Norms and Cash Transac
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