Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Jun 02, 2021
Directions under Section 35 A read with Section 56 of the Banking Regulation Act, 1949 - The Madgaum Urban Co-operative Bank Ltd., Margao, Goa - Extension of Period
The Madgaum Urban Co-operative Bank Ltd., Margao, Goa was placed under Directions vide Directive dated April 26, 2019 from the close of business on May 02, 2019 for a period of six months. The validity of the above Directions was extended from time to time, the last being vide Directive dated March 02, 2021 up to June 02, 2021. 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-secti
The Madgaum Urban Co-operative Bank Ltd., Margao, Goa was placed under Directions vide Directive dated April 26, 2019 from the close of business on May 02, 2019 for a period of six months. The validity of the above Directions was extended from time to time, the last being vide Directive dated March 02, 2021 up to June 02, 2021. 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-secti
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May 31, 2021
RBI cancels the licence of Shivajirao Bhosale Sahakari Bank Ltd., Pune, Maharashtra
Today, the Reserve Bank of India (RBI) has, vide order dated May 28, 2021 cancelled the licence of Shivajirao Bhosale Sahakari Bank Ltd., Pune, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 31, 2021. The Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of
Today, the Reserve Bank of India (RBI) has, vide order dated May 28, 2021 cancelled the licence of Shivajirao Bhosale Sahakari Bank Ltd., Pune, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 31, 2021. The Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of
May 31, 2021
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - Rupee Co-operative Bank Ltd., Pune, Maharashtra - Extension of Period
Reserve Bank of India vide directive UBD.CO.BSD-I./D-28/12.22.2018/2012-13 dated February 21, 2013 had placed the Rupee Co-operative Bank Ltd., Pune, Maharashtra under Directions from the close of business on February 22, 2013. The validity of the directions was extended from time-to-time, the last being up to May 31, 2021. 2. It is hereby notified for the information of the public that, Reserve Bank of India, in exercise of powers vested in it under sub-section (1) o
Reserve Bank of India vide directive UBD.CO.BSD-I./D-28/12.22.2018/2012-13 dated February 21, 2013 had placed the Rupee Co-operative Bank Ltd., Pune, Maharashtra under Directions from the close of business on February 22, 2013. The validity of the directions was extended from time-to-time, the last being up to May 31, 2021. 2. It is hereby notified for the information of the public that, Reserve Bank of India, in exercise of powers vested in it under sub-section (1) o
May 16, 2021
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - Mantha Urban Co-operative Bank Limited, Jalna, Maharashtra - Extension of period
The Reserve Bank of India, in the public interest, had issued Directions to Mantha Urban Co-operative Bank Limited, District: Jalna, Maharashtra in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) from the close of business on November 17, 2020. The validity of the above Directions was for six months i.e upto May 16, 2021. The Reserve Bank has now further extended the Directions for a
The Reserve Bank of India, in the public interest, had issued Directions to Mantha Urban Co-operative Bank Limited, District: Jalna, Maharashtra in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) from the close of business on November 17, 2020. The validity of the above Directions was for six months i.e upto May 16, 2021. The Reserve Bank has now further extended the Directions for a
May 13, 2021
RBI cancels the licence of United Co-operative Bank Ltd., Bagnan, West Bengal
Today, the Reserve Bank of India (RBI) has, vide order dated May 10, 2021 cancelled the licence of United Co-operative Bank Ltd., Bagnan, West Bengal. Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 13, 2021. The Registrar of Cooperative Societies, West Bengal has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the ba
Today, the Reserve Bank of India (RBI) has, vide order dated May 10, 2021 cancelled the licence of United Co-operative Bank Ltd., Bagnan, West Bengal. Consequently, the bank ceases to carry on banking business, with effect from the close of business on May 13, 2021. The Registrar of Cooperative Societies, West Bengal has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the ba
May 08, 2021
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - Millath Co-operative Bank Limited, Davangere, Karnataka - Extension of period
The Reserve Bank of India issued All Inclusive Directions to Millath Co-operative Bank Limited, Davangere, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive DCBS.CO.BSD III.D-12 /12.23.096/2018-19 dated April 26, 2019, as modified from time to time, which were last extended up to May 7, 2021 vide Directive DOR.CO.RTG.MON.D-57/12.23.096/2020-21 dated February 05, 2021. 2. The Reserve Bank of India is satisfied that in t
The Reserve Bank of India issued All Inclusive Directions to Millath Co-operative Bank Limited, Davangere, Karnataka under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive DCBS.CO.BSD III.D-12 /12.23.096/2018-19 dated April 26, 2019, as modified from time to time, which were last extended up to May 7, 2021 vide Directive DOR.CO.RTG.MON.D-57/12.23.096/2020-21 dated February 05, 2021. 2. The Reserve Bank of India is satisfied that in t
May 07, 2021
Group of Advisors to Regulations Review Authority invites feedback and suggestions
The Reserve Bank of India has set up a Regulations Review Authority (RRA 2.0), initially for a period of one year from May 01, 2021, vide press release dated April 15, 2021. The RRA will review the regulatory prescriptions internally as well as by seeking suggestions from the RBI regulated entities and other stakeholders on their simplification and ease of implementation. 2. The RRA has constituted an Advisory Group, representing members from regulated entities, inclu
The Reserve Bank of India has set up a Regulations Review Authority (RRA 2.0), initially for a period of one year from May 01, 2021, vide press release dated April 15, 2021. The RRA will review the regulatory prescriptions internally as well as by seeking suggestions from the RBI regulated entities and other stakeholders on their simplification and ease of implementation. 2. The RRA has constituted an Advisory Group, representing members from regulated entities, inclu
Apr 30, 2021
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - The Needs of Life Co-operative Bank Ltd, Mumbai - Extension of Period
The Reserve Bank of India vide directive DCBS.CO.BSD-I/D-3/12.22.163/2018-19 dated October 26, 2018 had placed The Needs of Life Co-operative Bank Ltd, Mumbai under Directions from the close of business on October 29, 2018 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to April 30, 2021. 2. It is hereby notified for the information of the public that the Reserve Bank of India, in exercise of powers vested i
The Reserve Bank of India vide directive DCBS.CO.BSD-I/D-3/12.22.163/2018-19 dated October 26, 2018 had placed The Needs of Life Co-operative Bank Ltd, Mumbai under Directions from the close of business on October 29, 2018 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to April 30, 2021. 2. It is hereby notified for the information of the public that the Reserve Bank of India, in exercise of powers vested i
Apr 30, 2021
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 - The Kapol Co-operative Bank Ltd, Mumbai, Maharashtra - Extension of Period
The Reserve Bank of India vide directive DCBS.CO.BSD-I./D-9/12.22.111/2016-17 dated March 30, 2017 had placed The Kapol Co-operative Bank Ltd, Mumbai, Maharashtra under Directions from the close of business on March 30, 2017 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to April 30, 2021. 2. It is hereby notified for the information of the public that Reserve Bank of India, in exercise of powers vested in
The Reserve Bank of India vide directive DCBS.CO.BSD-I./D-9/12.22.111/2016-17 dated March 30, 2017 had placed The Kapol Co-operative Bank Ltd, Mumbai, Maharashtra under Directions from the close of business on March 30, 2017 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to April 30, 2021. 2. It is hereby notified for the information of the public that Reserve Bank of India, in exercise of powers vested in
Apr 27, 2021
Issue of Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including Housing Finance Companies)
The Reserve Bank of India had announced in the ‘Statement on Developmental and Regulatory Policies’ issued as part of the Monetary Policy Statement dated December 4, 2020 that with a view to improve the quality of financial reporting of Supervised Entities (SEs), harmonised guidelines on appointment of Statutory Auditors of Commercial Banks (excluding RRBs), Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Finance Companies (NBFCs) will be issued. 2. Accordin
The Reserve Bank of India had announced in the ‘Statement on Developmental and Regulatory Policies’ issued as part of the Monetary Policy Statement dated December 4, 2020 that with a view to improve the quality of financial reporting of Supervised Entities (SEs), harmonised guidelines on appointment of Statutory Auditors of Commercial Banks (excluding RRBs), Primary (Urban) Co-operative Banks (UCBs) and Non-Banking Finance Companies (NBFCs) will be issued. 2. Accordin
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Page Last Updated on: August 23, 2024
