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Press Releases
Aug 14, 2002
RBI cancels licence of The Kalwa Belapur Sahakari Bank Ltd.
The Reserve Bank of India has cancelled the licence of The Kalwa Belapur Sahakari Bank Ltd., Navi Mumbai, 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). Thus, 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.Ajit Prasad Manag
The Reserve Bank of India has cancelled the licence of The Kalwa Belapur Sahakari Bank Ltd., Navi Mumbai, 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). Thus, 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.Ajit Prasad Manag
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Aug 10, 2002
RBI cancels licence of The Megacity Co-operative Urban Bank Ltd.
The Reserve Bank of India has cancelled the licence of The Megacity Co-operative Urban Bank Ltd., Hyderabad, Andhra Pradesh to carry on banking business in India. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, 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.P
The Reserve Bank of India has cancelled the licence of The Megacity Co-operative Urban Bank Ltd., Hyderabad, Andhra Pradesh to carry on banking business in India. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, 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.P
Aug 07, 2002
RBI cancels licence of Shree Labh Co-operative Bank Ltd.
The Reserve Bank of India has cancelled the licence of Shree Labh Co-operative Bank Ltd., Mumbai, Maharashtra to carry on banking business in India. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, 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.P V Sadanandan M
The Reserve Bank of India has cancelled the licence of Shree Labh Co-operative Bank Ltd., Mumbai, Maharashtra to carry on banking business in India. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, 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.P V Sadanandan M
Jul 11, 2002
RBI cancels licence of The Praja Co-operative Urban Bank Ltd.
The Reserve Bank of India has cancelled the licence granted to The Praja Co-operative Urban Bank Ltd., Secunderabad, Ranga Reddy Dist. (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 it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or
The Reserve Bank of India has cancelled the licence granted to The Praja Co-operative Urban Bank Ltd., Secunderabad, Ranga Reddy Dist. (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 it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or
Jul 08, 2002
RBI rejects licence application of Rajampet Co-operative Town Bank Ltd.
The Reserve Bank of India has rejected the licence application of the Rajampet Co-operative Town Bank Ltd., Rajampet (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 it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise.Ajit Pra
The Reserve Bank of India has rejected the licence application of the Rajampet Co-operative Town Bank Ltd., Rajampet (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 it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise.Ajit Pra
Jun 29, 2002
RBI cancels licence of Shri Adinath Sahakari Bank Ltd.
The Reserve Bank of India has cancelled the licence to granted Shri Adinath Sahakari Bank Ltd., Pune (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 it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise.P.V. Sadanandan ManagerPres
The Reserve Bank of India has cancelled the licence to granted Shri Adinath Sahakari Bank Ltd., Pune (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 it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise.P.V. Sadanandan ManagerPres
Jun 12, 2002
RBI reject licence application to the Janata Sahakari Bank Maryadit
The Reserve Bank of India has rejected the licence application of the Janata Sahakari Bank Maryadit, Dewas, Madhya Pradesh to carry on banking business in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) with effect from March 16, 2002 and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheque, draft,
The Reserve Bank of India has rejected the licence application of the Janata Sahakari Bank Maryadit, Dewas, Madhya Pradesh to carry on banking business in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) with effect from March 16, 2002 and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheque, draft,
May 20, 2002
All RBI regulated Entities to hold G-Secs in Demat Form
The Reserve Bank of India, has been, over a period of time, encouraging holding of government securities in dematerialised form. At present 99% of the trading in government securities takes place through SGL accounts with RBI for which the Delivery versus Payment (DVP) system ensures simultaneous transfer of securities against funds. In the light of recent fraudulent transactions in the guise of Government securities transactions in physical format by a few co-operati
The Reserve Bank of India, has been, over a period of time, encouraging holding of government securities in dematerialised form. At present 99% of the trading in government securities takes place through SGL accounts with RBI for which the Delivery versus Payment (DVP) system ensures simultaneous transfer of securities against funds. In the light of recent fraudulent transactions in the guise of Government securities transactions in physical format by a few co-operati
May 04, 2002
RBI Instructions to Cooperative Banks for G-Sec Transactions
In response to press queries, following a report in a section of the press, the Reserve Bank of India encloses its circular dated April 20, 2002 issued to cooperative banks reiterating its existing guidelines for transactions in Government securities. The full text of the circular is also available on the RBI website www.rbi.org.in Alpana Killawala General ManagerPress Release No. 2001-2002/1223
In response to press queries, following a report in a section of the press, the Reserve Bank of India encloses its circular dated April 20, 2002 issued to cooperative banks reiterating its existing guidelines for transactions in Government securities. The full text of the circular is also available on the RBI website www.rbi.org.in Alpana Killawala General ManagerPress Release No. 2001-2002/1223
Apr 20, 2002
Moratorium on The Benaras State Bank Ltd. extended
The Central Government on the recommendation of the Reserve Bank of India and in partial modification of the Government's earlier Notification dated January 22, 2002 extended the period of moratorium in respect of The Benaras State Bank Ltd., for a further period up to and inclusive of July 21, 2002. The notification has been issued on April 19, 2002. Ajit PrasadManagerPress Release : 2001-02/1174
The Central Government on the recommendation of the Reserve Bank of India and in partial modification of the Government's earlier Notification dated January 22, 2002 extended the period of moratorium in respect of The Benaras State Bank Ltd., for a further period up to and inclusive of July 21, 2002. The notification has been issued on April 19, 2002. Ajit PrasadManagerPress Release : 2001-02/1174
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Page Last Updated on: January 02, 2023
