Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Jun 07, 2004
RBI cancels licence of The Sai Cooperative Urban Bank Ltd., Hyderabad, Andhra Pradesh
The Reserve Bank of India has cancelled the licence of The Sai Cooperative Urban Bank Ltd., Hyderabad, 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.The Reserve Bank has can
The Reserve Bank of India has cancelled the licence of The Sai Cooperative Urban Bank Ltd., Hyderabad, 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.The Reserve Bank has can
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Mar 05, 2004
RBI cancels licence of Sree Swamy Gnanananda Yogeeswara Mahila Cooperative Urban Bank Ltd., Puttur, Andhra Pradesh
The Reserve Bank of India has cancelled the licence of Sree Swamy Gnanananda Yogeeswara Mahila Cooperative Urban Bank Ltd., Puttur, 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 other
The Reserve Bank of India has cancelled the licence of Sree Swamy Gnanananda Yogeeswara Mahila Cooperative Urban Bank Ltd., Puttur, 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 other
Feb 17, 2004
Period of Moratorium on the South Gujarat Local Area Bank Ltd. extended
On the recommendations of the Reserve Bank of India, the Government of India has extended the period of Moratorium under Section 45(2) of the Banking Regulation Act, 1949 for another three months that is upto and inclusive of May 12, 2004.It may be recalled that the performance and financial position of the South Gujarat Local Area Bank Ltd., Navsari, Gujarat, a local area bank established in October 2000, with its headquarters in Navsari, Gujarat, has been a matter o
On the recommendations of the Reserve Bank of India, the Government of India has extended the period of Moratorium under Section 45(2) of the Banking Regulation Act, 1949 for another three months that is upto and inclusive of May 12, 2004.It may be recalled that the performance and financial position of the South Gujarat Local Area Bank Ltd., Navsari, Gujarat, a local area bank established in October 2000, with its headquarters in Navsari, Gujarat, has been a matter o
Feb 05, 2004
RBI cancels licence of The Vijaya Cooperative Urban Bank Ltd., Hyderabad, Andhra Pradesh
The Reserve Bank of India has cancelled the licence of The Vijaya Cooperative Urban Bank Ltd., (For Women), Hyderabad, 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.The Rese
The Reserve Bank of India has cancelled the licence of The Vijaya Cooperative Urban Bank Ltd., (For Women), Hyderabad, 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.The Rese
Jan 22, 2004
RBI cancels licence of The Kalyan Cooperative Urban Bank Ltd., Hyderabad, Andhra Pradesh
The Reserve Bank of India has cancelled the licence of The Kalyan Cooperative Urban Bank Ltd., Hyderabad, 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.The Reserve Bank has
The Reserve Bank of India has cancelled the licence of The Kalyan Cooperative Urban Bank Ltd., Hyderabad, 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.The Reserve Bank has
Jan 20, 2004
RBI Cancels license of The Mahalaxmi Cooperative Urban Bank Ltd., Hyderabad, Andhra Pradesh
The Reserve Bank of India has cancelled the license of The Mahalaxmi Cooperative Urban Bank Ltd., Hyderabad, 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.The Reserve Bank h
The Reserve Bank of India has cancelled the license of The Mahalaxmi Cooperative Urban Bank Ltd., Hyderabad, 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.The Reserve Bank h
Dec 10, 2003
RBI cancels licence of Trinity Cooperative Urban Bank Ltd., Hyderabad, Andhra Pradesh
The Reserve Bank of India has on December 5, 2003 cancelled the licence of Trinity Cooperative Urban Bank Ltd., Hyderabad, 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.The
The Reserve Bank of India has on December 5, 2003 cancelled the licence of Trinity Cooperative Urban Bank Ltd., Hyderabad, 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.The
Nov 13, 2003
Order of Moratorium on the South Gujarat Local Area Bank Ltd, Navsari, Gujarat
The performance and financial position of the South Gujarat Local Area Bank Ltd, Navsari, Gujarat, a local area bank established in October 2000, with its headquarters in Navsari, Gujarat, has been a matter of regulatory and supervisory concern for RBI. On the recommendations of the Reserve Bank of India, the Government of India has passed an Order of Moratorium under Section 45(2) of the Banking Regulation Act, 1949, which will remain in force from the close of busin
The performance and financial position of the South Gujarat Local Area Bank Ltd, Navsari, Gujarat, a local area bank established in October 2000, with its headquarters in Navsari, Gujarat, has been a matter of regulatory and supervisory concern for RBI. On the recommendations of the Reserve Bank of India, the Government of India has passed an Order of Moratorium under Section 45(2) of the Banking Regulation Act, 1949, which will remain in force from the close of busin
Nov 07, 2003
RBI rejects licence application of Jila Sahakari Kendriya Bank Maryadit, Raigarh
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Jila Sahakari Kendriya Bank Maryadit, Raigarh (Chhattisgarh State) 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). As such, it will not be in order for the above bank, among other things, to accept deposits from
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Jila Sahakari Kendriya Bank Maryadit, Raigarh (Chhattisgarh State) 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). As such, it will not be in order for the above bank, among other things, to accept deposits from
Oct 13, 2003
RBI cancels licence of Neelagiri Cooperative Urban Bank Ltd., Nalgonda, Andhra Pradesh
The Reserve Bank of India has cancelled the licence of The Neelagiri Cooperative Urban Bank Ltd., Nalgonda, 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. The Reserve Bank h
The Reserve Bank of India has cancelled the licence of The Neelagiri Cooperative Urban Bank Ltd., Nalgonda, 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. The Reserve Bank h
Sep 17, 2003
RBI requires RCS to wind up The Nayaka Mercantile Co-operative Bank Ltd., Nayaka, Dist : Kheda
The Reserve Bank of India has issued requisition to the Registrar of Co-operative Societies, Gujarat to wind up The Nayaka Mercantile Co-operative Bank Ltd., Nayaka, Dist. Kheda. Acccordingly, the Registrar of Co-operative Societies, Gujarat State has appointed the Liquidator for the bank. As such, it will not be in order for the above bank, among other things, to accept deposits from public and allow withdrawal by cheque, draft, order or otherwise. The Reserve Bank's
The Reserve Bank of India has issued requisition to the Registrar of Co-operative Societies, Gujarat to wind up The Nayaka Mercantile Co-operative Bank Ltd., Nayaka, Dist. Kheda. Acccordingly, the Registrar of Co-operative Societies, Gujarat State has appointed the Liquidator for the bank. As such, it will not be in order for the above bank, among other things, to accept deposits from public and allow withdrawal by cheque, draft, order or otherwise. The Reserve Bank's
Sep 13, 2003
RBI cancels licence of Vasundara Cooperative Urban Bank Ltd.,
Hyderabad, Andhra Pradesh
Hyderabad, Andhra Pradesh
The Reserve Bank of India has on September 8, 2003 cancelled the licence of Vasundara Cooperative Urban Bank Ltd., Hyderabad, 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.
The Reserve Bank of India has on September 8, 2003 cancelled the licence of Vasundara Cooperative Urban Bank Ltd., Hyderabad, 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.
Aug 19, 2003
RBI permits RCS to wind up Visnagar Nagarik Sahakari Bank Ltd., Visnagar
Considering the irretrievable and weak financial condition and all other relevant factors, the Reserve Bank of India has granted permission to the Registrar of Co-operative Societies (RCS), Gujarat to wind up the Visnagar Nagarik Sahakari Bank Ltd., Visnagar. As such, it would not be permissible for the bank, among other things, to accept deposit from public. The Reserve Bank's permission is in exercise of the power conferred on it under Section 13D of Deposit Insuran
Considering the irretrievable and weak financial condition and all other relevant factors, the Reserve Bank of India has granted permission to the Registrar of Co-operative Societies (RCS), Gujarat to wind up the Visnagar Nagarik Sahakari Bank Ltd., Visnagar. As such, it would not be permissible for the bank, among other things, to accept deposit from public. The Reserve Bank's permission is in exercise of the power conferred on it under Section 13D of Deposit Insuran
Aug 19, 2003
RBI permits RCS to wind up Charotar Nagarik Sahakari Bank Ltd., Anand
Considering the irretrievable and weak financial condition and all other relevant factors, the Reserve Bank of India has granted permission to the Registrar of Co-operative Societies (RCS), Gujarat to wind up the Charotar Nagarik Sahakari Bank Ltd., Anand. As such, it would not be permissible for the bank, among other things, to accept deposit from public. The Reserve Bank's permission is in exercise of the power conferred on it under Section 13D of Deposit Insurance
Considering the irretrievable and weak financial condition and all other relevant factors, the Reserve Bank of India has granted permission to the Registrar of Co-operative Societies (RCS), Gujarat to wind up the Charotar Nagarik Sahakari Bank Ltd., Anand. As such, it would not be permissible for the bank, among other things, to accept deposit from public. The Reserve Bank's permission is in exercise of the power conferred on it under Section 13D of Deposit Insurance
Jul 26, 2003
RBI cancels licence of The Manikanta Cooperative Urban Bank Ltd., Hyderabad, Andhra Pradesh
The Reserve Bank of India has cancelled the licence of The Manikanta Cooperative Urban Bank Ltd., Hyderabad, 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. The Reserve Bank
The Reserve Bank of India has cancelled the licence of The Manikanta Cooperative Urban Bank Ltd., Hyderabad, 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. The Reserve Bank
Jul 18, 2003
RBI rejects licence application of The Darbhanga Central Co-operative Bank Ltd., Bihar
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Darbhanga Central Co-operative Bank Ltd., Bihar 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). As such, it will not be in order for the above bank, among other things, to accept deposits from public and allow wi
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Darbhanga Central Co-operative Bank Ltd., Bihar 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). As such, it will not be in order for the above bank, among other things, to accept deposits from public and allow wi
Jul 09, 2003
RBI requires Gujarat ROC to wind up four Urban Banks
The Reserve Bank of India has issued requisitions to the Registrar of Cooperative Societies, (ROCs), Gujarat to wind up the following banks : The General Cooperative Bank Ltd., AhmedabadThe Janata Commercial Cooperative Bank Ltd., DholkaSantram Cooperative Bank Ltd., NadiadThe Bhavnagar Welfare Cooperative Bank Ltd., Bhavnagar The requisitions have been made in terms of Section 115A(2) of the Gujarat Cooperative Societies Act, 1961, read with Section 13D of the Deposi
The Reserve Bank of India has issued requisitions to the Registrar of Cooperative Societies, (ROCs), Gujarat to wind up the following banks : The General Cooperative Bank Ltd., AhmedabadThe Janata Commercial Cooperative Bank Ltd., DholkaSantram Cooperative Bank Ltd., NadiadThe Bhavnagar Welfare Cooperative Bank Ltd., Bhavnagar The requisitions have been made in terms of Section 115A(2) of the Gujarat Cooperative Societies Act, 1961, read with Section 13D of the Deposi
Jul 08, 2003
RBI rejects licence application of The Solapur Merchants' Co-operative Bank Ltd., Solapur
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Solapur Merchants Co-operative Bank Ltd., Solapur, Dist. 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). As such, it will not be in order for the above bank, among other things, to accept dep
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Solapur Merchants Co-operative Bank Ltd., Solapur, Dist. 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). As such, it will not be in order for the above bank, among other things, to accept dep
Jun 13, 2003
RBI rejects licence application of the Narasaraopet Co-operative Urban Bank Ltd., Narasaraopet
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Narasaraopet Co-operative Urban Bank Ltd., Narasaraopet, Guntur District (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). As such, it will not be in order for the above bank, among other things, t
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Narasaraopet Co-operative Urban Bank Ltd., Narasaraopet, Guntur District (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). As such, it will not be in order for the above bank, among other things, t
Jun 10, 2003
RBI rejects licence application of The Sibsagar District Central Co-operative Bank Ltd., Assam
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Sibsagar District Central Co-operative Bank Ltd., Assam 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). As such, it will not be in order for the above bank, among other things, to accept deposits from public and
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Sibsagar District Central Co-operative Bank Ltd., Assam 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). As such, it will not be in order for the above bank, among other things, to accept deposits from public and
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