Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Dec 23, 1999
RBI cancels licence of the Jabalpur Nagrik Sahakari Bank Ltd.
The Reserve Bank of India has cancelled the licence granted to the Jabalpur Nagrik Sahakari Bank Ltd., Jabalpur, Madhya Pradesh to carry on banking business. The bank is precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and it will not be in order for it among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.Alpana Kill
The Reserve Bank of India has cancelled the licence granted to the Jabalpur Nagrik Sahakari Bank Ltd., Jabalpur, Madhya Pradesh to carry on banking business. The bank is precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and it will not be in order for it among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.Alpana Kill
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Dec 22, 1999
RBI cancels licence to the Gauhati Cooperative Town Bank Ltd.
The Reserve Bank of India has cancelled the licence granted to the Gauhati Cooperative Town Bank Ltd., Guwahati to carry on banking business. The bank is precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and it will not be in order for it among other things, from accepting deposits from public and allow withdrawals by cheque, draft, order or otherwise.N.S.D. Lobo Asstt. Manager
The Reserve Bank of India has cancelled the licence granted to the Gauhati Cooperative Town Bank Ltd., Guwahati to carry on banking business. The bank is precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and it will not be in order for it among other things, from accepting deposits from public and allow withdrawals by cheque, draft, order or otherwise.N.S.D. Lobo Asstt. Manager
Dec 22, 1999
RBI refuses licence to The Hubli-Dharwad Urban Co-operative Bank Ltd.
The Reserve Bank of India has rejected the application submitted by The Hubli-Dharwad Urban Co-operative Bank Ltd., Dharwad, Karnatak for issue of licence to carry on banking business. Thus, the bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and it will not be in order for it among other things to accept deposits from public and allow withdrawal by cheque, draft, order
The Reserve Bank of India has rejected the application submitted by The Hubli-Dharwad Urban Co-operative Bank Ltd., Dharwad, Karnatak for issue of licence to carry on banking business. Thus, the bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and it will not be in order for it among other things to accept deposits from public and allow withdrawal by cheque, draft, order
Dec 03, 1999
Extension of time for moratorium Sikkim Bank Ltd.
The Central Government have, on the recommendation of the Reserve Bank of India and in partial modification of the their earlier Notifcation dated September 4, 1999, issued a Notification on December 2, 1999 extending the period of moratorium in respect of Sikkim Bank Ltd., for a futher period upto and inclusive of 3 March 2000.Rupambara Padhi ManagerPress Release : 1999-2000/735
The Central Government have, on the recommendation of the Reserve Bank of India and in partial modification of the their earlier Notifcation dated September 4, 1999, issued a Notification on December 2, 1999 extending the period of moratorium in respect of Sikkim Bank Ltd., for a futher period upto and inclusive of 3 March 2000.Rupambara Padhi ManagerPress Release : 1999-2000/735
Nov 05, 1999
M/s. Dugar Finance (India) Ltd. Prohibited from accepting deposits
M/s. Dugar Finance (India) Ltd., having its registered office at Dugar Tower, 123 Marshalls Road, Egmore, Chennai-600 008 has violated various provisions of the Reserve Bank of India Act, 1934 and the Reserve Bank's directions applicable to it. The Reserve Bank of India has therefore, prohibited it with effect from November 3 1999 from accepting public deposits from any person, in any form whether by way of fresh deposits or renewal of the existing deposits or otherwi
M/s. Dugar Finance (India) Ltd., having its registered office at Dugar Tower, 123 Marshalls Road, Egmore, Chennai-600 008 has violated various provisions of the Reserve Bank of India Act, 1934 and the Reserve Bank's directions applicable to it. The Reserve Bank of India has therefore, prohibited it with effect from November 3 1999 from accepting public deposits from any person, in any form whether by way of fresh deposits or renewal of the existing deposits or otherwi
Oct 30, 1999
M/s. Pennar Paterson Ltd. - Prohibited from accepting deposits
M/s. Pennar Paterson Ltd., having its registered office at Chikoti Gardens, Begumpet, Hyderabad-500 016 has violated various provisions of the Reserve Bank of India Act, 1934 and the Reserve Bank's Directions applicable to it. The Reserve Bank of India, therefore, prohibited it with immediate effect from accepting public deposits from any person, in any form whether by way of fresh deposits or renewal of the existing deposits or otherwise, until further order.The Rese
M/s. Pennar Paterson Ltd., having its registered office at Chikoti Gardens, Begumpet, Hyderabad-500 016 has violated various provisions of the Reserve Bank of India Act, 1934 and the Reserve Bank's Directions applicable to it. The Reserve Bank of India, therefore, prohibited it with immediate effect from accepting public deposits from any person, in any form whether by way of fresh deposits or renewal of the existing deposits or otherwise, until further order.The Rese
Oct 01, 1999
RBI cancels licence of Manipur Industrial Co-operative Bank Ltd.
The Reserve Bank of India has cancelled the licence issued to the Manipur Industrial Co-operative Bank Ltd., Imphal to carry on banking business. The bank is precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and prohibited it among other things, from accepting deposits from the public and allow withdrawals by cheque, draft, order or otherwise.Chhaya Raje ManagerPress Release :
The Reserve Bank of India has cancelled the licence issued to the Manipur Industrial Co-operative Bank Ltd., Imphal to carry on banking business. The bank is precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and prohibited it among other things, from accepting deposits from the public and allow withdrawals by cheque, draft, order or otherwise.Chhaya Raje ManagerPress Release :
Oct 01, 1999
RBI cancels licence of The Nizamabad Cooperative Town Bank Ltd.
The Reserve Bank of India has cancelled the licence issued to the Nizamabad Cooperative Town Bank Ltd., Nizamabad, Andhra Pradesh to carry on banking business. The bank is precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and prohibited it among other things, from accepting deposits from the public and allow withdrawals by cheque, draft, order or otherwise.Chhaya Raje ManagerPr
The Reserve Bank of India has cancelled the licence issued to the Nizamabad Cooperative Town Bank Ltd., Nizamabad, Andhra Pradesh to carry on banking business. The bank is precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and prohibited it among other things, from accepting deposits from the public and allow withdrawals by cheque, draft, order or otherwise.Chhaya Raje ManagerPr
Sep 17, 1999
RBI cancels licence of Solapur Zilla Mahila Sahakari Bank Ltd.
The Reserve Bank of India has cancelled the licence issued to the Solapur Zilla Mahila Sahakari Bank Ltd., Solapur, Maharashtra to carry on banking business. The bank is precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and prohibited it among other thing, from accepting deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P.V. Sadanandan Asstt. M
The Reserve Bank of India has cancelled the licence issued to the Solapur Zilla Mahila Sahakari Bank Ltd., Solapur, Maharashtra to carry on banking business. The bank is precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and prohibited it among other thing, from accepting deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P.V. Sadanandan Asstt. M
Sep 08, 1999
Moratorium on Sikkim Bank Ltd.
The Central Government on an application made by the Reserve Bank of India has issued orders of moratorium on the Sikkim Bank Ltd. for the period from the close of business on September 4, 1999 upto and inclusive of December 3, 1999 under the provisions of Sub-Section (2) of Section 45 of the Banking Regulation Act, 1949.The moratorium has been declared in public interest, in the interest of the depositors and the banking system.Rupambara Padhi ManagerPress Release :
The Central Government on an application made by the Reserve Bank of India has issued orders of moratorium on the Sikkim Bank Ltd. for the period from the close of business on September 4, 1999 upto and inclusive of December 3, 1999 under the provisions of Sub-Section (2) of Section 45 of the Banking Regulation Act, 1949.The moratorium has been declared in public interest, in the interest of the depositors and the banking system.Rupambara Padhi ManagerPress Release :
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