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Press Releases
Mar 24, 2005
Depositors of The Raghuvanshi Cooperative Bank Ltd., Mumbai, Maharashtra to get up to Rs.1 lakh
In view of the fact that the The Raghuvanshi Cooperative Bank Ltd., Mumbai, Maharashtra had ceased to be solvent, the Reserve Bank of India, on March 18, 2005 delivered to the bank the order of cancelling its licence. A requisition has been made to the Commissioner for Co-operation and Registrar of Cooperative Societies, Maharashtra for winding up of the Raghuvanshi Cooperative Bank Ltd., Mumbai, Maharashtra and to appoint a liquidator therefor. It may be highlighted
In view of the fact that the The Raghuvanshi Cooperative Bank Ltd., Mumbai, Maharashtra had ceased to be solvent, the Reserve Bank of India, on March 18, 2005 delivered to the bank the order of cancelling its licence. A requisition has been made to the Commissioner for Co-operation and Registrar of Cooperative Societies, Maharashtra for winding up of the Raghuvanshi Cooperative Bank Ltd., Mumbai, Maharashtra and to appoint a liquidator therefor. It may be highlighted
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Jan 24, 2005
Depositors of The Aurangabad Peoples' Cooperative Bank Ltd., Aurangabad, Maharashtra to get up to Rs.1 lakh
In view of the fact that the The Aurangabad Peoples' Cooperative Bank Ltd., Aurangabad, Maharashtra had ceased to be solvent, the Reserve Bank of India, on January 13, 2005 delivered to the bank the order of cancelling its licence. A requisition has been made to the Commissioner for Co-operation and Registrar of Cooperative Societies, Maharashtra for winding up of the Aurangabad Peoples' Cooperative Bank Ltd., Aurangabad, Maharashtra and to appoint a liquidator theref
In view of the fact that the The Aurangabad Peoples' Cooperative Bank Ltd., Aurangabad, Maharashtra had ceased to be solvent, the Reserve Bank of India, on January 13, 2005 delivered to the bank the order of cancelling its licence. A requisition has been made to the Commissioner for Co-operation and Registrar of Cooperative Societies, Maharashtra for winding up of the Aurangabad Peoples' Cooperative Bank Ltd., Aurangabad, Maharashtra and to appoint a liquidator theref
Dec 16, 2004
RBI cancels licence of The Partur Peoples' Co-operative Bank Ltd., Partur, Dist.Jalna, Maharashtra
The Reserve Bank of India has cancelled the licence of The Partur Peoples' Co-operative Bank Ltd., Partur, Dist.Jalna, 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.The Reserve
The Reserve Bank of India has cancelled the licence of The Partur Peoples' Co-operative Bank Ltd., Partur, Dist.Jalna, 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.The Reserve
Dec 09, 2004
Depositors of Prudential Cooperative Bank to get upto Rs.1 lakh
In view of the fact that the Prudential Cooperative Bank Ltd., Secunderabad, (Andhra Pradesh) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Andhra Pradesh had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India, on December 7th, delivered the order of cancelling of its licence to the bank. Immediately on cancellation of the licence and at the request of th
In view of the fact that the Prudential Cooperative Bank Ltd., Secunderabad, (Andhra Pradesh) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Andhra Pradesh had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India, on December 7th, delivered the order of cancelling of its licence to the bank. Immediately on cancellation of the licence and at the request of th
Dec 09, 2004
RBI cancels licence of The Prudential Cooperative Bank Ltd., Secunderabad, (Andhra Pradesh)
The Reserve Bank of India has cancelled the licence of The Prudential Cooperative Bank Ltd., Secunderabad, (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 Prudential Cooperative Bank Ltd., Secunderabad, (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
Oct 01, 2004
RBI cancels licence of Sriganganagar Urban Cooperative Bank Ltd., Sriganganagar, Rajasthan
The Reserve Bank of India has on September 4, 2004 cancelled the licence of Sriganganagar Urban Cooperative Bank Ltd., Sriganganagar, Rajasthan 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 otherwis
The Reserve Bank of India has on September 4, 2004 cancelled the licence of Sriganganagar Urban Cooperative Bank Ltd., Sriganganagar, Rajasthan 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 otherwis
Sep 15, 2004
RBI cancels licence of Lord Balaji Cooperative Bank Ltd., Madhavnagar, Maharashtra
The Reserve Bank of India has on September 8, 2004 cancelled the licence of Lord Balaji Cooperative Bank Ltd., Madhavnagar, Dist. Sangli, 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 ot
The Reserve Bank of India has on September 8, 2004 cancelled the licence of Lord Balaji Cooperative Bank Ltd., Madhavnagar, Dist. Sangli, 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 ot
Aug 12, 2004
RBI cancels licence of The Bellampalli Cooperative Urban Bank Ltd., Bellampalli, Andhra Pradesh
The Reserve Bank of India has cancelled the licence of The Bellampalli Cooperative Urban Bank Ltd., Bellampalli, 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 B
The Reserve Bank of India has cancelled the licence of The Bellampalli Cooperative Urban Bank Ltd., Bellampalli, 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 B
Aug 09, 2004
RBI imposed directions under Banking Regulations Act on The South Indian Co-operative Bank Ltd.
It has been decided to issue directions under Section 35A of the Banking Regulations Act, 1949 (AACS) to The South Indian Co-operative Bank Ltd., Mumbai, in public interest. As per the directions, the bank as at the close of business on August 9, 2004, shall not, without prior approval in writing from the Reserve Bank of India, grant or renew any loans and advances, make any investment, incur liability including borrowal of funds and acceptance of fresh deposits, disb
It has been decided to issue directions under Section 35A of the Banking Regulations Act, 1949 (AACS) to The South Indian Co-operative Bank Ltd., Mumbai, in public interest. As per the directions, the bank as at the close of business on August 9, 2004, shall not, without prior approval in writing from the Reserve Bank of India, grant or renew any loans and advances, make any investment, incur liability including borrowal of funds and acceptance of fresh deposits, disb
Jul 25, 2004
RBI reassures depositors of Global Trust Bank Ltd.
RBI reiterates that the objective of the moratorium is to protect the interests and safety of funds of all depositors. Necessary actions are being initiated to ensure the return to normalcy. All the branches of Global Trust Bank Ltd, will continue to remain open as per their normal working hours to help their customers and enable them to make the permitted withdrawals. RBI stands by its assurance to meet any requirement of cash at the branches of the bank for making p
RBI reiterates that the objective of the moratorium is to protect the interests and safety of funds of all depositors. Necessary actions are being initiated to ensure the return to normalcy. All the branches of Global Trust Bank Ltd, will continue to remain open as per their normal working hours to help their customers and enable them to make the permitted withdrawals. RBI stands by its assurance to meet any requirement of cash at the branches of the bank for making p
Jul 24, 2004
Global Trust Bank Ltd. under Moratorium
24 July 2004On an application by the Reserve Bank of India, the Central Government has today issued an Order of Moratorium in respect of the Global Trust Bank Ltd. The Order of Moratorium has been passed by the Central Government in public interest, in the interest of depositors and the banking system. The moratorium will be effective from the close of business on Saturday, July 24, 2004 up to and inclusive of October 23, 2004 or an earlier date, if alternate arrangem
24 July 2004On an application by the Reserve Bank of India, the Central Government has today issued an Order of Moratorium in respect of the Global Trust Bank Ltd. The Order of Moratorium has been passed by the Central Government in public interest, in the interest of depositors and the banking system. The moratorium will be effective from the close of business on Saturday, July 24, 2004 up to and inclusive of October 23, 2004 or an earlier date, if alternate arrangem
Jun 21, 2004
RBI cancels licence of Sri Satyasai Cooperative Urban Bank Ltd., secunderabad, Andhra Pradesh
The Reserve Bank of India has cancelled the licence of Sri Satyasai Cooperative Urban Bank Ltd., Secunderabad, 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 Ban
The Reserve Bank of India has cancelled the licence of Sri Satyasai Cooperative Urban Bank Ltd., Secunderabad, 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 Ban
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
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
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Page Last Updated on: January 02, 2023
