Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Nov 29, 2010
RBI cautions Public about Unauthorised Companies collecting Deposits
The Reserve Bank of India has today cautioned members of public about unauthorised companies which collect money from public stating that they have been authorised by the Reserve Bank to do so. The Reserve Bank stated that it has published on its website (/en/web/rbi/regulations-non-banking/other-links/list-of-nbfcs) a list of non-banking finance companies (NBFCs) which are permitted to accept deposits. No NBFC outside of this list can accept deposits from public. Doi
The Reserve Bank of India has today cautioned members of public about unauthorised companies which collect money from public stating that they have been authorised by the Reserve Bank to do so. The Reserve Bank stated that it has published on its website (/en/web/rbi/regulations-non-banking/other-links/list-of-nbfcs) a list of non-banking finance companies (NBFCs) which are permitted to accept deposits. No NBFC outside of this list can accept deposits from public. Doi
PDF (
Nov 25, 2010
The Bantra Co-operative Bank Ltd., Howrah - Penalised
The Reserve Bank of India has imposed a penalty of ` 2.00 lakh (Rupees Two Lakh only) on The Bantra Co-operative Bank Ltd., Howrah 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 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for allowing withdrawals in Current and Savings Bank accounts in excess of
The Reserve Bank of India has imposed a penalty of ` 2.00 lakh (Rupees Two Lakh only) on The Bantra Co-operative Bank Ltd., Howrah 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 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for allowing withdrawals in Current and Savings Bank accounts in excess of
Nov 22, 2010
RBI cancels the Licence of The Boriavi People's Co-operative Bank Ltd., Boriavi, (Gujarat)
The Reserve Bank of India has cancelled the licence of the Boriavi People's Co-operative Bank Ltd., Boriavi, Gujarat. The order of cancellation of the licence was given after the close of business on November 19, 2010. The Reserve Bank has also requested the Registrar of Co-operative Societies, Gujarat to issue an order for winding up the bank and appoint a liquidator. Consequent to the cancellation of its licence, The Boriavi People's Co-operative Bank Ltd., Boriavi,
The Reserve Bank of India has cancelled the licence of the Boriavi People's Co-operative Bank Ltd., Boriavi, Gujarat. The order of cancellation of the licence was given after the close of business on November 19, 2010. The Reserve Bank has also requested the Registrar of Co-operative Societies, Gujarat to issue an order for winding up the bank and appoint a liquidator. Consequent to the cancellation of its licence, The Boriavi People's Co-operative Bank Ltd., Boriavi,
Nov 22, 2010
Kasundia Co-operative Bank Ltd., Howrah - Penalised
The Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Kasundia Co-operative Bank Ltd., Howrah 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 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for resorting to borrowings without prior approval from Reserve Bank of Indi
The Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Kasundia Co-operative Bank Ltd., Howrah 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 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for resorting to borrowings without prior approval from Reserve Bank of Indi
Nov 16, 2010
Cosmos Co-operative Bank Ltd., Pune, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five Lakh only) on Cosmos Co-operative Bank Ltd., Pune, Maharashtra, 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 instructions/guidelines of the Reserve Bank of India. The bank had violated Reserve Bank of India directives by sanctioning
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five Lakh only) on Cosmos Co-operative Bank Ltd., Pune, Maharashtra, 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 instructions/guidelines of the Reserve Bank of India. The bank had violated Reserve Bank of India directives by sanctioning
Oct 07, 2010
RBI sets up Committee on Licensing of Urban Co-operative Banks
The Reserve Bank of India has constituted an Expert Committee under the Chairmanship of Shri Y.H. Malegam for studying the advisability of granting new urban co-operative banking licences under Section 22 of the Banking Regulation Act, 1949 [As Applicable to Co-operative Societies (AACS)] The terms of reference of the Committee are as under : To review the role and performance of UCBs over the last decade and especially since the adoption of VISION document in 2004, T
The Reserve Bank of India has constituted an Expert Committee under the Chairmanship of Shri Y.H. Malegam for studying the advisability of granting new urban co-operative banking licences under Section 22 of the Banking Regulation Act, 1949 [As Applicable to Co-operative Societies (AACS)] The terms of reference of the Committee are as under : To review the role and performance of UCBs over the last decade and especially since the adoption of VISION document in 2004, T
Oct 06, 2010
Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur, Maharashtra - Penalised
The Reserve Bank of India has imposed a penalty of ` 5.00 lakh (Rupees Five Lakh only) on Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur, Maharashtra 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 for violation of the Reserve Bank of India's instructions on investment in government securities and violation of supervisory action imposed on the bank vide its letter dated
The Reserve Bank of India has imposed a penalty of ` 5.00 lakh (Rupees Five Lakh only) on Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur, Maharashtra 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 for violation of the Reserve Bank of India's instructions on investment in government securities and violation of supervisory action imposed on the bank vide its letter dated
Oct 04, 2010
Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra - Penalised
The Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra 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 for violation of the provision of Section 35(2) of the Act, ibid. The Reserve Bank of India had issued a show cause notice to the bank in response to which the bank had submitted writte
The Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra 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 for violation of the provision of Section 35(2) of the Act, ibid. The Reserve Bank of India had issued a show cause notice to the bank in response to which the bank had submitted writte
Sep 06, 2010
Reserve Bank Cancels the Licence of Anyonya Co-operative Bank Ltd., Vadodra (Gujarat)
In view of the fact that Anyonya Co-operative Bank Ltd. Vadodra, 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 after the close of business on September 03, 2010. The Registrar of Co-operative Societies, Gujarat has also been requested to issue
In view of the fact that Anyonya Co-operative Bank Ltd. Vadodra, 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 after the close of business on September 03, 2010. The Registrar of Co-operative Societies, Gujarat has also been requested to issue
Aug 11, 2010
Brahmadeodada Mane Sahakari Bank Ltd., Solapur - Penalised
The Reserve Bank of India has imposed a penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Brahmadeodada Mane Sahakari Bank Ltd., Solapur, Maharashtra 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 the guidelines for granting unsecured credit facilities, allowing remission of debt in various borrowal accounts, waiving b
The Reserve Bank of India has imposed a penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Brahmadeodada Mane Sahakari Bank Ltd., Solapur, Maharashtra 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 the guidelines for granting unsecured credit facilities, allowing remission of debt in various borrowal accounts, waiving b
Install the RBI mobile application and get quick access to the latest news!
Page Last Updated on: July 23, 2024
