Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Jun 01, 2012
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Unlicensed District Central Cooperative Banks
The Reserve Bank of India has issued in exercise of powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS) read with Section 56 of the Banking Regulation Act, 1949, certain Directions to the District Central Co-operative Banks namely the Osmanabad District Central Co-operative Bank Ltd., Osmanabad, the Jalna District Central Co-operative Bank Ltd., Jalna and the Dhule and Nandurbar District Central Co-operative Bank Ltd., D
The Reserve Bank of India has issued in exercise of powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS) read with Section 56 of the Banking Regulation Act, 1949, certain Directions to the District Central Co-operative Banks namely the Osmanabad District Central Co-operative Bank Ltd., Osmanabad, the Jalna District Central Co-operative Bank Ltd., Jalna and the Dhule and Nandurbar District Central Co-operative Bank Ltd., D
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May 29, 2012
Reserve Bank Cancels the Licence of the Chatrapur Co-operative Bank Ltd., Chatrapur, Odisha
In view of the fact that the Chatrapur Co-operative Bank Ltd., Chatrapur, Odisha had ceased to be solvent and with all efforts to revive it having failed and the depositors being inconvenienced by continued uncertainty, the Reserve Bank of India delivered to the bank the order cancelling its licence after the close of business on May 23, 2012. The Registrar of Co-operative Societies, Government of Odisha has also been requested to issue an order for winding up the ban
In view of the fact that the Chatrapur Co-operative Bank Ltd., Chatrapur, Odisha had ceased to be solvent and with all efforts to revive it having failed and the depositors being inconvenienced by continued uncertainty, the Reserve Bank of India delivered to the bank the order cancelling its licence after the close of business on May 23, 2012. The Registrar of Co-operative Societies, Government of Odisha has also been requested to issue an order for winding up the ban
May 22, 2012
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad, (Gujarat)
The Reserve Bank of India has issued in exercise of powers vested in it under sub-section (1) of Section 35A of Banking Regulation Act, 1949 (AACS) read with Section 56 of the Banking Regulation Act, 1949, certain Directions to the Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat), whereby as from the close of business as on April 02, 2012, the aforesaid bank shall not, without prior approval in writing from the Reserve Bank of India, grant or renew any loan
The Reserve Bank of India has issued in exercise of powers vested in it under sub-section (1) of Section 35A of Banking Regulation Act, 1949 (AACS) read with Section 56 of the Banking Regulation Act, 1949, certain Directions to the Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat), whereby as from the close of business as on April 02, 2012, the aforesaid bank shall not, without prior approval in writing from the Reserve Bank of India, grant or renew any loan
May 22, 2012
Reserve Bank Cancels the Licence of Bhimashankar Nagari Sahakari Bank Ltd.,Ausa, Dist. Latur (Maharashtra)
In view of the fact that Bhimashankar Nagari Sahakari Bank Ltd, Ausa, Dist. Latur (Maharashtra) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India on May 3, 2012 delivered its order dated April 25, 2012 to the bank cancelling its licence to carry out banking business. The Registrar of Co-operative Societie
In view of the fact that Bhimashankar Nagari Sahakari Bank Ltd, Ausa, Dist. Latur (Maharashtra) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India on May 3, 2012 delivered its order dated April 25, 2012 to the bank cancelling its licence to carry out banking business. The Registrar of Co-operative Societie
May 15, 2012
The Patdi Nagrik Sahakari Bank Ltd., Patdi, Dist. Surendranagar - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Patdi Nagrik Sahakari Bank Ltd., Patdi, Dist. Surendranagar, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for (i) violation of RBI instructions to disclose the penalty in its notes to accounts to the balance sheet as on March 31, 2011, (ii) non-adherence of operational
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Patdi Nagrik Sahakari Bank Ltd., Patdi, Dist. Surendranagar, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for (i) violation of RBI instructions to disclose the penalty in its notes to accounts to the balance sheet as on March 31, 2011, (ii) non-adherence of operational
May 15, 2012
Reserve Bank of India imposes monetary penalty on National Urban Cooperative Bank Ltd of Delhi
The Reserve Bank of India has imposed a monetary penalty of `.5 lakh (Rupees Five lakh only) on the National Urban Cooperative Bank Ltd, C-3/ 84, New Kondli, Mayur Vihar, Phase III, Delhi -110096 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 the directions/guidelines/instructions of the Reserve Bank of India on Loans and
The Reserve Bank of India has imposed a monetary penalty of `.5 lakh (Rupees Five lakh only) on the National Urban Cooperative Bank Ltd, C-3/ 84, New Kondli, Mayur Vihar, Phase III, Delhi -110096 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 the directions/guidelines/instructions of the Reserve Bank of India on Loans and
Apr 26, 2012
The Udhna Citizen Co-operative Bank Ltd., Surat, (Gujarat)
The Reserve Bank of India had issued a directive, in the interest of public, to the Udhna Citizen Co-operative Bank Ltd., Surat (Gujarat), in exercise of the powers vested under sub-section (1) of Section 35 A of the Banking Regulation Act, 1949 (AACS), from the close of business as on November 2, 2010, in terms of which the aforesaid bank shall not, without prior approval of RBI in writing grant or renew any loans an advances, make any investment, incur any liability
The Reserve Bank of India had issued a directive, in the interest of public, to the Udhna Citizen Co-operative Bank Ltd., Surat (Gujarat), in exercise of the powers vested under sub-section (1) of Section 35 A of the Banking Regulation Act, 1949 (AACS), from the close of business as on November 2, 2010, in terms of which the aforesaid bank shall not, without prior approval of RBI in writing grant or renew any loans an advances, make any investment, incur any liability
Apr 11, 2012
Reserve Bank of India penalises Shri Vinayak Sahakari Bank Ltd., Ahmedabad
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47 A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of Rs. 5.00 lakh (Rupees five lakh only) on Shri Vinayak Sahakari Bank Ltd., Ahmedabad, for violation of RBI instructions/directions relating to operational instructions, destruction of records of banking transactions, non production of books of account before the Inspec
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47 A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of Rs. 5.00 lakh (Rupees five lakh only) on Shri Vinayak Sahakari Bank Ltd., Ahmedabad, for violation of RBI instructions/directions relating to operational instructions, destruction of records of banking transactions, non production of books of account before the Inspec
Apr 09, 2012
Reserve Bank Cancels the Licence of Shri Bhadran Mercantile Co-operative Bank Ltd., Bhadran (Gujarat)
In view of the fact that Shri Bhadran Mercantile Co-operative Bank Ltd, Bhadran (Gujarat) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India on March 30, 2012 delivered its order dated March 21, 2012 to the bank cancelling its licence to carry out banking business. The Registrar of Co-operative Societies, Guja
In view of the fact that Shri Bhadran Mercantile Co-operative Bank Ltd, Bhadran (Gujarat) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India on March 30, 2012 delivered its order dated March 21, 2012 to the bank cancelling its licence to carry out banking business. The Registrar of Co-operative Societies, Guja
Apr 03, 2012
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad, (Gujarat)
The Reserve Bank of India has issued in exercise of powers vested in it under sub-section (1) of Section 35A of Banking Regulation Act, 1949 (AACS) read with Section 56 of the Banking Regulation Act, 1949, certain Directions to the Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat), whereby as from the close of business as on April 02, 2012, the aforesaid bank shall not, without prior approval in writing from the Reserve Bank of India, grant or renew any loan
The Reserve Bank of India has issued in exercise of powers vested in it under sub-section (1) of Section 35A of Banking Regulation Act, 1949 (AACS) read with Section 56 of the Banking Regulation Act, 1949, certain Directions to the Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat), whereby as from the close of business as on April 02, 2012, the aforesaid bank shall not, without prior approval in writing from the Reserve Bank of India, grant or renew any loan
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