Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Apr 28, 2016
Magadh Central Co-operative Bank Ltd., Gaya - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 5,00,000/- (Rupees Five lakh only) on Magadh Central Co-operative Bank Ltd., Gaya in exercise of the powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of the provisions of Section 27 of the B.R.Act, 1949 (AACS) relating to submission of statutory returns. The Reserve Bank of India
The Reserve Bank of India has imposed a monetary penalty of ₹ 5,00,000/- (Rupees Five lakh only) on Magadh Central Co-operative Bank Ltd., Gaya in exercise of the powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of the provisions of Section 27 of the B.R.Act, 1949 (AACS) relating to submission of statutory returns. The Reserve Bank of India
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Apr 25, 2016
The Dhrangadhra Peoples’ Co-operative Bank Ltd., Dist. Surendranagar (Gujarat) - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on The Dhrangadhra Peoples’ Co-operative Bank Ltd., Dist. Surendranagar (Gujarat), in exercise of the powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of RBI guidelines and instructions relating to (i) subjecting the investment portfolio to concu
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on The Dhrangadhra Peoples’ Co-operative Bank Ltd., Dist. Surendranagar (Gujarat), in exercise of the powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of RBI guidelines and instructions relating to (i) subjecting the investment portfolio to concu
Apr 18, 2016
RBI extends Directions issued to the HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh till October 15, 2016
The Reserve Bank of India has extended directions issued to the HCBL Co-operative Bank Ltd., Lucknow for a further period of six months from April 16, 2016 to October 15, 2016, subject to review. The bank had been under directions since the close of business on April 16, 2015 vide directive dated April 10, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified and its validity extended upto April 15, 2016. The sa
The Reserve Bank of India has extended directions issued to the HCBL Co-operative Bank Ltd., Lucknow for a further period of six months from April 16, 2016 to October 15, 2016, subject to review. The bank had been under directions since the close of business on April 16, 2015 vide directive dated April 10, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified and its validity extended upto April 15, 2016. The sa
Apr 13, 2016
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Jamkhed Merchants Co-operative Bank Ltd., Jamkhed, Ahmednagar, Maharashtra
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India has issued certain Directions to Jamkhed Merchants Co-operative Bank Ltd., Jamkhed, Ahmednagar, Maharashtra, whereby, as from the close of business on April 12, 2016, the aforesaid
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India has issued certain Directions to Jamkhed Merchants Co-operative Bank Ltd., Jamkhed, Ahmednagar, Maharashtra, whereby, as from the close of business on April 12, 2016, the aforesaid
Apr 12, 2016
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS)- United India Co-operative Bank Ltd., Nagina, Bijnor, Uttar Pradesh - Extension of period and relaxation in payment of deposits
The Reserve Bank of India (RBI) has extended the validity of the Directions issued to United India Co-operative Bank Ltd., Nagina, Bijnor, for a further period of six months from April 15, 2016 to October 14, 2016 subject to review. Reserve Bank of India has also relaxed the directions imposed on United India Co-operative Bank Ltd., Nagina, Bijnor in partial modification of its earlier directive dated July 08, 2015. Now, the depositor will be allowed to withdraw up to
The Reserve Bank of India (RBI) has extended the validity of the Directions issued to United India Co-operative Bank Ltd., Nagina, Bijnor, for a further period of six months from April 15, 2016 to October 14, 2016 subject to review. Reserve Bank of India has also relaxed the directions imposed on United India Co-operative Bank Ltd., Nagina, Bijnor in partial modification of its earlier directive dated July 08, 2015. Now, the depositor will be allowed to withdraw up to
Apr 12, 2016
RBI issues Directions to Gokul Co-operative Urban Bank Ltd., Secunderabad (Telangana)
The Reserve Bank of India is satisfied that in the interest of the public, it is necessary to issue certain directions to Gokul Co-operative Urban Bank Ltd., Secunderabad. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949 hereby directs that Gokul Co-operative Urban Bank
The Reserve Bank of India is satisfied that in the interest of the public, it is necessary to issue certain directions to Gokul Co-operative Urban Bank Ltd., Secunderabad. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949 hereby directs that Gokul Co-operative Urban Bank
Apr 07, 2016
RBI Penalised Dholpur Urban Co-operative Bank Ltd., Dholpur
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (₹ One lakh only) on the Dholpur Urban Co-operative Bank Limited, Dholpur, in exercise of powers vested in it under the provisions of Section 47A (1) (b) read with section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violations of the guidelines/directives on Know Your Customer(KYC)/ Anti-Money Laundering(AML) The Reserve Bank of India had issued a show
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (₹ One lakh only) on the Dholpur Urban Co-operative Bank Limited, Dholpur, in exercise of powers vested in it under the provisions of Section 47A (1) (b) read with section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violations of the guidelines/directives on Know Your Customer(KYC)/ Anti-Money Laundering(AML) The Reserve Bank of India had issued a show
Apr 07, 2016
RBI imposes penalty on M/s Sun Corporate Services Pvt. Ltd. (Presently known as Mamata Group Corporate Services Pvt. Ltd.)
The Reserve Bank of India (the Bank), has imposed a monetary penalty of ₹ 5 lakh (Rupees Five lakh only) on M/s Sun Corporate Services Pvt. Ltd. (presently known as M/s Mamata Group Corporate Services Pvt. Ltd.), having its registered office at 53, Madhuban, Near Madalpur Underbridge, Ellisbridge, Ahmedabad–380006, Gujarat, in exercise of the powers vested in it under the provisions of section 58-G of the Reserve Bank of India Act, 1934, for violation of the instructi
The Reserve Bank of India (the Bank), has imposed a monetary penalty of ₹ 5 lakh (Rupees Five lakh only) on M/s Sun Corporate Services Pvt. Ltd. (presently known as M/s Mamata Group Corporate Services Pvt. Ltd.), having its registered office at 53, Madhuban, Near Madalpur Underbridge, Ellisbridge, Ahmedabad–380006, Gujarat, in exercise of the powers vested in it under the provisions of section 58-G of the Reserve Bank of India Act, 1934, for violation of the instructi
Apr 06, 2016
RBI penalises The Panihati Co-operative Bank Ltd.,Dist- 24-Parganas (N), West Bengal
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Two lakh only) on the The Panihati Co-operative Bank Ltd., Dist- 24-Parganas (N), West Bengal, Pin-700 114, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of directions contained in the order dated April 16, 2014 and violation of instructions contained
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Two lakh only) on the The Panihati Co-operative Bank Ltd., Dist- 24-Parganas (N), West Bengal, Pin-700 114, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of directions contained in the order dated April 16, 2014 and violation of instructions contained
Apr 05, 2016
RBI extends Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh till July 06, 2016
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of three months from April 07, 2016 to July 06, 2016, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto April 06, 2016. The same has further been extended upto July 06, 2016
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of three months from April 07, 2016 to July 06, 2016, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto April 06, 2016. The same has further been extended upto July 06, 2016
Apr 04, 2016
RBI extends validity of the Directions issued to the Mercantile Urban Co-operative Bank Ltd., Meerut, Uttar Pradesh
The Reserve Bank of India (RBI) has extended the Directions issued to the Mercantile Urban Co-operative Bank Ltd., Meerut for a further period of Six months from April 06, 2016 to October 05, 2016, subject to review. The bank has been under directions since October 06, 2015 vide directive dated September 30, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive has been extended for a period of six months fro
The Reserve Bank of India (RBI) has extended the Directions issued to the Mercantile Urban Co-operative Bank Ltd., Meerut for a further period of Six months from April 06, 2016 to October 05, 2016, subject to review. The bank has been under directions since October 06, 2015 vide directive dated September 30, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive has been extended for a period of six months fro
Mar 31, 2016
RBI imposes penalty on The Jambusar Peoples Co-operative Bank Ltd., Jambusar, Dist. Bharuch (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 3.00 lakh (Rupees Three Lakh) on The Jambusar Peoples Co-operative Bank Ltd., Jambusar, Dist. Bharuch (Gujarat), in exercise of the powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violations of the Operational instructions issued u/s 36(1) of B R Act, 1949 (As applicable to Co-operative
The Reserve Bank of India has imposed a monetary penalty of ₹ 3.00 lakh (Rupees Three Lakh) on The Jambusar Peoples Co-operative Bank Ltd., Jambusar, Dist. Bharuch (Gujarat), in exercise of the powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violations of the Operational instructions issued u/s 36(1) of B R Act, 1949 (As applicable to Co-operative
Mar 31, 2016
RBI imposes penalty on The Harij Nagrik Sahakari Bank Ltd., Harij, Dist. Patan (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 3.00 lakh (Rupees Three Lakh) on The Harij Nagrik Sahakari Bank Ltd., Harij, Dist. Patan (Gujarat), in exercise of the powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violations of operational instructions issued by RBI u/s 36 (1) of the B R Act, 1949 (AACS) and RBI guidelines for gold l
The Reserve Bank of India has imposed a monetary penalty of ₹ 3.00 lakh (Rupees Three Lakh) on The Harij Nagrik Sahakari Bank Ltd., Harij, Dist. Patan (Gujarat), in exercise of the powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violations of operational instructions issued by RBI u/s 36 (1) of the B R Act, 1949 (AACS) and RBI guidelines for gold l
Mar 30, 2016
RBI extends Directions issued to Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra till September 30, 2016
The Reserve Bank of India notified that Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra was placed under directions from the close of business on September 30, 2015, for a period of six months, vide directive dated September 28, 2015 under Section 35A of the Banking Regulation Act, 1949 (AACS). It is hereby notified for the information of the public that the aforesaid directive dated September 28, 2015 issued to Ajinkyatara Sahakari Bank Ltd., Satara, shall contin
The Reserve Bank of India notified that Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra was placed under directions from the close of business on September 30, 2015, for a period of six months, vide directive dated September 28, 2015 under Section 35A of the Banking Regulation Act, 1949 (AACS). It is hereby notified for the information of the public that the aforesaid directive dated September 28, 2015 issued to Ajinkyatara Sahakari Bank Ltd., Satara, shall contin
Mar 28, 2016
RBI extends Directions issued to Shree Ganesh Sahakari Bank Ltd., Nashik, Maharashtra till September 29, 2016
The Reserve Bank of India notified that Shree Ganesh Sahakari Bank Ltd., Nashik was placed under directions for a period of six months vide directive dated April 01, 2013 under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive was extended five times for a period of six months each vide our directives dated September 23, 2013; March 27, 2014; September 17, 2014; March 19, 2015 and September 15, 2015 respectively. It is her
The Reserve Bank of India notified that Shree Ganesh Sahakari Bank Ltd., Nashik was placed under directions for a period of six months vide directive dated April 01, 2013 under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive was extended five times for a period of six months each vide our directives dated September 23, 2013; March 27, 2014; September 17, 2014; March 19, 2015 and September 15, 2015 respectively. It is her
Mar 22, 2016
RBI modifies Directions on the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.)
The Reserve Bank of India (RBI) has modified directions issued to the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.). The bank has been under directions since November 01, 2012 vide directive No. UBD.CO.BSD.-II No./D-20/12.27.002/2012-13 dated October 29, 2012. The validity of the directions had been extended from time to time for a period of six months, subject to review, latest being from November 01, 2015 to April 30, 2016. In terms of the existing directions, amo
The Reserve Bank of India (RBI) has modified directions issued to the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.). The bank has been under directions since November 01, 2012 vide directive No. UBD.CO.BSD.-II No./D-20/12.27.002/2012-13 dated October 29, 2012. The validity of the directions had been extended from time to time for a period of six months, subject to review, latest being from November 01, 2015 to April 30, 2016. In terms of the existing directions, amo
Mar 21, 2016
RBI extends validity of the Directions issued to Pioneer Urban Co-operative Bank Ltd., Lucknow, Uttar Pradesh
The Reserve Bank of India (RBI) has extended the Directions issued to the Pioneer Urban Co-operative Bank Ltd., Lucknow for a further period of three months from March 24, 2016 to June 23, 2016, subject to review. The bank has been under directions since March 24, 2015 vide directive DCBS.CO.BSD-IV. No. D-35/12.28.063/2014-15 dated March 14, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive was extended v
The Reserve Bank of India (RBI) has extended the Directions issued to the Pioneer Urban Co-operative Bank Ltd., Lucknow for a further period of three months from March 24, 2016 to June 23, 2016, subject to review. The bank has been under directions since March 24, 2015 vide directive DCBS.CO.BSD-IV. No. D-35/12.28.063/2014-15 dated March 14, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive was extended v
Mar 11, 2016
RBI extends Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh till September 11, 2016
The Reserve Bank of India has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from March 12, 2016 to September 11, 2016, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive has been modified / its validity extended vide RBI directives dated July 30
The Reserve Bank of India has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from March 12, 2016 to September 11, 2016, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive has been modified / its validity extended vide RBI directives dated July 30
Mar 09, 2016
RBI extends Directions issued to Nashik Zilla Girna Sahakari Bank Ltd., Nashik, Maharashtra till September 09, 2016
The Reserve Bank of India notified that Nashik Zilla Girna Sahakari Bank Ltd., Nashik, Maharashtra, was placed under directions for a period of six months vide directive dated September 8, 2015 from the close of business on September 9, 2015. The validity of the directions is extended for a period of six months from the close of business on March 9, 2016 to September 9, 2016 vide directive dated March 03, 2016, subject to review and subject to the following modificati
The Reserve Bank of India notified that Nashik Zilla Girna Sahakari Bank Ltd., Nashik, Maharashtra, was placed under directions for a period of six months vide directive dated September 8, 2015 from the close of business on September 9, 2015. The validity of the directions is extended for a period of six months from the close of business on March 9, 2016 to September 9, 2016 vide directive dated March 03, 2016, subject to review and subject to the following modificati
Mar 03, 2016
RBI imposes penalty on The Muslim Co-operative Bank Ltd., Mysuru, Karnataka
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One lakh only) on The Muslim Co-operative Bank Ltd., Mysuru, Karnataka, in exercise of the 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 Reserve Bank of India’s instructions contained in Circular dated April 29, 2003 and dated June 24, 2003 and also Dir
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One lakh only) on The Muslim Co-operative Bank Ltd., Mysuru, Karnataka, in exercise of the 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 Reserve Bank of India’s instructions contained in Circular dated April 29, 2003 and dated June 24, 2003 and also Dir
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