Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Jun 27, 2023
RBI cancels the licence granted to Mahalaxmi Cooperative Bank Ltd., Dharwad, Karnataka and allows it to function as non-banking institution
Reserve Bank of India (RBI) is satisfied to notify Mahalaxmi Cooperative Bank Ltd., Dharwad, Karnataka as a non-banking institution under Section 36A(2) read with Section 56 of the Banking Regulation Act, 1949. Accordingly, RBI has cancelled the licence dated March 23, 1994, granted to Mahalaxmi Cooperative Bank Ltd., Dharwad, Karnataka to carry on banking business in India under Section 22 read with Section 56 of the Banking Regulation Act,1949 with effect from the close of business on June 27, 2023. This makes it obligatory on the part of Mahalaxmi Cooperative Bank Ltd., Dharwad, Karnataka to stop conducting the business of ‘banking’ within the meaning of section 5(b) of the Act ibid, including acceptance of deposits from non-members with immediate effect. Further, Mahalaxmi Cooperative Bank Ltd., Dharwad, Karnataka shall ensure to repay unpaid and unclaimed deposits of non-members held by it, whenever demanded, even after being notified as non-banking Institution.
Reserve Bank of India (RBI) is satisfied to notify Mahalaxmi Cooperative Bank Ltd., Dharwad, Karnataka as a non-banking institution under Section 36A(2) read with Section 56 of the Banking Regulation Act, 1949. Accordingly, RBI has cancelled the licence dated March 23, 1994, granted to Mahalaxmi Cooperative Bank Ltd., Dharwad, Karnataka to carry on banking business in India under Section 22 read with Section 56 of the Banking Regulation Act,1949 with effect from the close of business on June 27, 2023. This makes it obligatory on the part of Mahalaxmi Cooperative Bank Ltd., Dharwad, Karnataka to stop conducting the business of ‘banking’ within the meaning of section 5(b) of the Act ibid, including acceptance of deposits from non-members with immediate effect. Further, Mahalaxmi Cooperative Bank Ltd., Dharwad, Karnataka shall ensure to repay unpaid and unclaimed deposits of non-members held by it, whenever demanded, even after being notified as non-banking Institution.
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Jun 14, 2023
Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) - The Rajapur Sahakari Bank Ltd., Mumbai
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. CO.DOS.SED.No.S1917/12-22-212/2023-2024 dated June 13, 2023, has issued certain Directions to The Rajapur Sahakari Bank Ltd., Mumbai, whereby, as from the close of business on June 14, 2023,
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. CO.DOS.SED.No.S1917/12-22-212/2023-2024 dated June 13, 2023, has issued certain Directions to The Rajapur Sahakari Bank Ltd., Mumbai, whereby, as from the close of business on June 14, 2023,
Jun 14, 2023
Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) - The Vaishali Shahari Vikas Co-operative Bank Ltd., Hajipur, Bihar
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. DoS(Patna).Co-op.Bk./No. S50/04.01.009/2023-24 dated June 13, 2023, has issued certain Directions to The Vaishali Shahari Vikas Co-operative Bank Ltd. Hajipur, Bihar whereby, as from the clos
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. DoS(Patna).Co-op.Bk./No. S50/04.01.009/2023-24 dated June 13, 2023, has issued certain Directions to The Vaishali Shahari Vikas Co-operative Bank Ltd. Hajipur, Bihar whereby, as from the clos
Jun 14, 2023
Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) - Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. CO.DOS.SED.No.S1918/12-22-283/2023-2024 dated June 13, 2023, has issued certain Directions to Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi, whereby, as from the close of business on Ju
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. CO.DOS.SED.No.S1918/12-22-283/2023-2024 dated June 13, 2023, has issued certain Directions to Sawantwadi Urban Co-operative Bank Ltd., Sawantwadi, whereby, as from the close of business on Ju
Jun 09, 2023
Directions under Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) - Sikar Urban Co-operative Bank Ltd, Sikar, Rajasthan- Extension of Validity
Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan was placed under All-Inclusive Directions from close of business on November 09, 2018 for a period of six months’ subject to review, vide Directive dated October 26, 2018. The validity of the directions was last extended vide Directive dated March 08, 2023 for three months up to June 09, 2023, subject to review. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of p
Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan was placed under All-Inclusive Directions from close of business on November 09, 2018 for a period of six months’ subject to review, vide Directive dated October 26, 2018. The validity of the directions was last extended vide Directive dated March 08, 2023 for three months up to June 09, 2023, subject to review. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of p
Jun 09, 2023
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - Dwarkadas Mantri Nagari Sahakari Bank Ltd., Beed, Maharashtra - Extension of Period
The Reserve Bank of India issued Directions to Dwarkadas Mantri Nagari Sahakari Bank Ltd., Beed, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive DoS.CO.NSUCBs-West/D-4/S3706/12.07.005/2021-22 dated March 9, 2022 which were extended from time to time, last being up to June 9, 2023, vide Directive DOR.MON/D-84/12.22.613/2022-23 dated March 8, 2023. 2. The Reserve Bank of India is satisfied that in the public interest
The Reserve Bank of India issued Directions to Dwarkadas Mantri Nagari Sahakari Bank Ltd., Beed, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive DoS.CO.NSUCBs-West/D-4/S3706/12.07.005/2021-22 dated March 9, 2022 which were extended from time to time, last being up to June 9, 2023, vide Directive DOR.MON/D-84/12.22.613/2022-23 dated March 8, 2023. 2. The Reserve Bank of India is satisfied that in the public interest
Jun 06, 2023
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)- Nagar Urban Co-operative Bank Ltd., Ahmednagar - Extension of Period
Reserve Bank of India vide directive DoS.CO.SUCBs-West/S2399/12.22.159/2021-22 dated December 06, 2021 had placed Nagar Urban Co-operative Bank Ltd., Ahmednagar under Directions from the close of business on December 06, 2021 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to June 06, 2023. 2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers veste
Reserve Bank of India vide directive DoS.CO.SUCBs-West/S2399/12.22.159/2021-22 dated December 06, 2021 had placed Nagar Urban Co-operative Bank Ltd., Ahmednagar under Directions from the close of business on December 06, 2021 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to June 06, 2023. 2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers veste
Jun 06, 2023
Directions under Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) - Sumerpur Mercantile Urban Co-operative Bank Ltd, Sumerpur, Rajasthan- Extension of Validity
Sumerpur Mercantile Urban Co-operative Bank Limited, Sumerpur, Rajasthan was placed under All-Inclusive Directions from close of business on December 06, 2022 for a period of six months, subject to review, vide Directive dated December 05, 2022. It is hereby notified for the information of the public that, the Reserve Bank of India, 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 th
Sumerpur Mercantile Urban Co-operative Bank Limited, Sumerpur, Rajasthan was placed under All-Inclusive Directions from close of business on December 06, 2022 for a period of six months, subject to review, vide Directive dated December 05, 2022. It is hereby notified for the information of the public that, the Reserve Bank of India, 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 th
May 31, 2023
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - Harihareshwar Sahakari Bank Limited, Wai, Satara - Extension of period
The Reserve Bank of India, vide directive CO.DOS.DSD.No.S1012/12-07-005/2022-2023 dated May 31, 2022, had placed Harihareshwar Sahakari Bank Limited, Wai, Satara under Directions from the close of business on May 31, 2022. The validity of the directions was extended from time-to-time, the last being up to May 31, 2023. 2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of
The Reserve Bank of India, vide directive CO.DOS.DSD.No.S1012/12-07-005/2022-2023 dated May 31, 2022, had placed Harihareshwar Sahakari Bank Limited, Wai, Satara under Directions from the close of business on May 31, 2022. The validity of the directions was extended from time-to-time, the last being up to May 31, 2023. 2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of
May 26, 2023
RBI approves the voluntary amalgamation of Maratha Sahakari Bank Ltd., Mumbai (Maharashtra) with The Cosmos Co-operative Bank Limited, Pune (Maharashtra)
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Maratha Sahakari Bank Ltd., Mumbai, Maharashtra with The Cosmos Co-operative Bank Limited, Pune, Maharashtra. The Scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from May 29, 2023. All the branches of Maratha Sahakari Bank Ltd., Mumbai (Maharashtr
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of Maratha Sahakari Bank Ltd., Mumbai, Maharashtra with The Cosmos Co-operative Bank Limited, Pune, Maharashtra. The Scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from May 29, 2023. All the branches of Maratha Sahakari Bank Ltd., Mumbai (Maharashtr
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Page Last Updated on: November 21, 2024
