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Press Releases
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
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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 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
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
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
Jun 04, 2003
RBI cancels licence of the Sri Mouneshwar Cooperative Bank Ltd., Gulbarga, Karnataka
The Reserve Bank of India has cancelled the licence of Sri Mouneshwar Cooperative Bank Ltd., Gulbarga, Karnataka 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 cancell
The Reserve Bank of India has cancelled the licence of Sri Mouneshwar Cooperative Bank Ltd., Gulbarga, Karnataka 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 cancell
May 30, 2003
NABARD to service its SLR Bonds issued upto October 1994 from July 1
The National Bank for Agriculture and Rural Development (NABARD) will, from July 1, 2003, take over the servicing of its Bonds issued upto October 1994. The service would include payment of interest and redemption proceeds, as also other services, such as, splitting/consolidation of bonds, etc. Accordingly, the servicing of these bonds by the Reserve Bank of India's public debt offices (PDOs) would be discontinued with effect from close of business on June 30, 2003. C
The National Bank for Agriculture and Rural Development (NABARD) will, from July 1, 2003, take over the servicing of its Bonds issued upto October 1994. The service would include payment of interest and redemption proceeds, as also other services, such as, splitting/consolidation of bonds, etc. Accordingly, the servicing of these bonds by the Reserve Bank of India's public debt offices (PDOs) would be discontinued with effect from close of business on June 30, 2003. C
May 23, 2003
RBI Cancels licence of Astha Corporation Private Limited, Hyderabad as 'surrendered'
The Reserve Bank of India has cancelled as surrendered on May 21, 2003 the licence of Astha Corporation Private Limited, B-1, Industrial Estate, Sanathnagar, Hyderabad-500 018 to carry on the business of a non-banking financial institution. The company has also been prohibited from acceptance of deposit from public under Section 45 MB (1) and prohibited from alienation of assets under Section 45 MB (2) of the Reserve Bank of India Act, 1934. The Reserve Bank has cance
The Reserve Bank of India has cancelled as surrendered on May 21, 2003 the licence of Astha Corporation Private Limited, B-1, Industrial Estate, Sanathnagar, Hyderabad-500 018 to carry on the business of a non-banking financial institution. The company has also been prohibited from acceptance of deposit from public under Section 45 MB (1) and prohibited from alienation of assets under Section 45 MB (2) of the Reserve Bank of India Act, 1934. The Reserve Bank has cance
May 23, 2003
RBI rejects licence application of Madhepura-Supaul Central Co-operative Bank Ltd.
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Madhepura-Supaul 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 a
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Madhepura-Supaul 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 a
Apr 24, 2003
RBI cancels licence of the Dhana Cooperative Urban Bank Ltd., Eluru, Andhra Pradesh
The Reserve Bank of India has cancelled the licence of The Dhana Cooperative Urban Bank Ltd., Eluru, 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 canc
The Reserve Bank of India has cancelled the licence of The Dhana Cooperative Urban Bank Ltd., Eluru, 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 canc
Mar 07, 2003
RBI cancels licence of the Pratibha Mahila Sahakari Bank Ltd.
The Reserve Bank of India has cancelled vide Order dated February 25, 2003 the licence granted to the Pratibha Mahila Sahakari Bank Ltd., Jalgaon, Dist. Jalgaon (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 c
The Reserve Bank of India has cancelled vide Order dated February 25, 2003 the licence granted to the Pratibha Mahila Sahakari Bank Ltd., Jalgaon, Dist. Jalgaon (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 c
Feb 11, 2003
RBI cancels licence of Yeshwant Sahakari Bank Ltd.
The Reserve Bank of India has cancelled the licence of the Yeshwant Sahakari Bank Ltd., Mumbai, 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). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P. V. Sadanandan ManagerPre
The Reserve Bank of India has cancelled the licence of the Yeshwant Sahakari Bank Ltd., Mumbai, 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). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P. V. Sadanandan ManagerPre
Jan 31, 2003
Nedungadi Bank Ltd. branches to function as PNB branches from tomorrow
The branches of the Nedungadi Bank Ltd. will function as branches of Punjab National Bank from February 1, 2003. This is envisaged in the scheme of amalgamation sanctioned by the Central Government in its notification issued today. In terms of the Government notification, the depositors' interests are fully protected. As per the scheme of amalgamation, Punjab National Bank would take over the assets and liabilities of Nedungadi Bank Ltd. after first evaluating the ass
The branches of the Nedungadi Bank Ltd. will function as branches of Punjab National Bank from February 1, 2003. This is envisaged in the scheme of amalgamation sanctioned by the Central Government in its notification issued today. In terms of the Government notification, the depositors' interests are fully protected. As per the scheme of amalgamation, Punjab National Bank would take over the assets and liabilities of Nedungadi Bank Ltd. after first evaluating the ass
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Page Last Updated on: January 02, 2023
