Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Dec 08, 2011
The Progressive Mercantile Co-operative Bank Ltd., Ahmedabad - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on the The Progressive Mercantile Co-operative Bank Ltd., Ahmedabad, 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 (As applicable to Co-operative Societies), for violation of Reserve Bank of India's instructions on Know Your Customers (KYC) / Anti Money Laundering (AML) norms. The Res
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on the The Progressive Mercantile Co-operative Bank Ltd., Ahmedabad, 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 (As applicable to Co-operative Societies), for violation of Reserve Bank of India's instructions on Know Your Customers (KYC) / Anti Money Laundering (AML) norms. The Res
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Dec 01, 2011
Reserve Bank Cancels the Licence of Bharat Urban Co-operative Bank Ltd., Solapur (Maharashtra)
In view of the fact that Bharat Urban Co-operative Bank Ltd., Solapur (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 (RBI) delivered the order cancelling its licence to the bank as on the close of business on November 25, 2011. The Registrar of Co-operative Societies, Maharashtra has als
In view of the fact that Bharat Urban Co-operative Bank Ltd., Solapur (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 (RBI) delivered the order cancelling its licence to the bank as on the close of business on November 25, 2011. The Registrar of Co-operative Societies, Maharashtra has als
Nov 16, 2011
Reserve Bank Cancels the Licence of Bhandari Co-operative Bank Ltd., Mumbai (Maharashtra)
In view of the fact that Bhandari Co-operative Bank Ltd., Mumbai (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 delivered the order cancelling its licence to the bank as on the close of business on November 11, 2011. The Registrar of Co-operative Societies, Maharashtra has also been requ
In view of the fact that Bhandari Co-operative Bank Ltd., Mumbai (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 delivered the order cancelling its licence to the bank as on the close of business on November 11, 2011. The Registrar of Co-operative Societies, Maharashtra has also been requ
Nov 16, 2011
Reserve Bank Cancels the license of The Charminar Co-operative Urban Bank Ltd., Hyderabad (Andhra Pradesh)
In view of the fact that the operations of The Charminar Co-operative Urban Bank Ltd., (Andhra Pradesh) had ceased to be solvent, all efforts to turnaround in consultations with the Government of Andhra Pradesh had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order dated November 08, 2011 canceling its license to the bank after the close of business on November 15, 2011. The Registrar of Co-opera
In view of the fact that the operations of The Charminar Co-operative Urban Bank Ltd., (Andhra Pradesh) had ceased to be solvent, all efforts to turnaround in consultations with the Government of Andhra Pradesh had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order dated November 08, 2011 canceling its license to the bank after the close of business on November 15, 2011. The Registrar of Co-opera
Nov 14, 2011
Reserve Bank Cancels the Licence of Gujarat Industrial Co-operative Bank Ltd., Ahmedabad (Gujarat)
In view of the fact that Gujarat Industrial Co-operative Bank Ltd, Ahmedabad (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 delivered the order cancelling its licence to the bank before commencement of business on November 11, 2011. The Central Registrar of Co-operative Societies, New Delhi has a
In view of the fact that Gujarat Industrial Co-operative Bank Ltd, Ahmedabad (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 delivered the order cancelling its licence to the bank before commencement of business on November 11, 2011. The Central Registrar of Co-operative Societies, New Delhi has a
Nov 11, 2011
The Municipal Co-operative Bank Ltd., Ahmedabad - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Municipal Co-operative Bank Ltd., Ahmedabad , 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 violation of Reserve Bank of India's instructions on Know Your Customer (KYC) norms and unsecured advances observed during the course of bank's inspection as on March 31, 201
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Municipal Co-operative Bank Ltd., Ahmedabad , 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 violation of Reserve Bank of India's instructions on Know Your Customer (KYC) norms and unsecured advances observed during the course of bank's inspection as on March 31, 201
Nov 11, 2011
The Ahmedabad Mercantile Co-operative Bank Limited, Ahmedabad, Gujarat - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Ahmedabad Mercantile Co-operative Bank Limited, Ahmedabad, Gujarat, 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 (As applicable to Co-operative Societies), for certain violations namely, floating of trust for general public, enrolling co-operative societies as members and not
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Ahmedabad Mercantile Co-operative Bank Limited, Ahmedabad, Gujarat, 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 (As applicable to Co-operative Societies), for certain violations namely, floating of trust for general public, enrolling co-operative societies as members and not
Nov 11, 2011
The Surat People's Co-operative Bank Ltd., Dist. Surat (Gujarat) - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Surat People's Co-operative Bank Ltd., Dist. Surat (Gujarat), 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) by admitting Co-operative Societies as members and giving unsecured advances beyond the prescribed ceiling in violation of the relative provisions of Banking Regul
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Surat People's Co-operative Bank Ltd., Dist. Surat (Gujarat), 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) by admitting Co-operative Societies as members and giving unsecured advances beyond the prescribed ceiling in violation of the relative provisions of Banking Regul
Nov 11, 2011
Shreenath Co-operative Bank Ltd., Ahmedabad - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Shreenath Co-operative Bank Ltd., Ahmedabad, 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 (As applicable to Co-operative Societies), for violations of the directives/guidelines of Reserve Bank on compliance with Know Your Customers (KYC) norms/Anti Money Laundering (AML) guideli
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Shreenath Co-operative Bank Ltd., Ahmedabad, 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 (As applicable to Co-operative Societies), for violations of the directives/guidelines of Reserve Bank on compliance with Know Your Customers (KYC) norms/Anti Money Laundering (AML) guideli
Nov 11, 2011
Reserve Bank Cancels the Licence of Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur (Maharashtra)
In view of the fact that Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur (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 delivered the order cancelling its licence to the bank as on the close of business on November 5, 2011. The Registrar of Co-operative Societies, Maharashtra has
In view of the fact that Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur (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 delivered the order cancelling its licence to the bank as on the close of business on November 5, 2011. The Registrar of Co-operative Societies, Maharashtra has
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