Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Jun 15, 2006
Reserve Bank Cancels the Licence of the Shriram Sahakari Bank Ltd., Nashik (Maharashtra)
In view of the fact that the Shriram Sahakari Bank Ltd., Nashik, Maharashtra, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order canceling its licence to the bank on June 13, 2006 at 10.30 a.m. The Registrar of Co-operative Societies, Maharashtra has also been requested to issue an orde
In view of the fact that the Shriram Sahakari Bank Ltd., Nashik, Maharashtra, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order canceling its licence to the bank on June 13, 2006 at 10.30 a.m. The Registrar of Co-operative Societies, Maharashtra has also been requested to issue an orde
PDF (
May 31, 2006
Reserve Bank Cancels the Licence of The Ichalkaranji Jiveshwar, Sahakari Bank Ltd., Ichalkaranji
In view of the fact that the Ichalkaranji Jiveshwar Sahakari Bank Ltd., Ichalkaranji, Dist., Kolhapur, Maharashtra, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank on May 30, 2006. The Registrar of Co-operative Societies, Maharashtra has also been r
In view of the fact that the Ichalkaranji Jiveshwar Sahakari Bank Ltd., Ichalkaranji, Dist., Kolhapur, Maharashtra, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank on May 30, 2006. The Registrar of Co-operative Societies, Maharashtra has also been r
May 17, 2006
Reserve Bank Cancels the Licence of The Baroda Mercantile Co-operative Bank Ltd., Vadodara (Gujarat)
In view of the fact that the Baroda Mercantile Co-operative Bank Ltd., Vadodara Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank on May 16, 2006 at 2:40 p. m. The Registrar of Co-operative Societies, Gujarat has also been requested to issue an o
In view of the fact that the Baroda Mercantile Co-operative Bank Ltd., Vadodara Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank on May 16, 2006 at 2:40 p. m. The Registrar of Co-operative Societies, Gujarat has also been requested to issue an o
May 16, 2006
Reserve Bank Cancels the Licence of The Onake Obavva Mahila Co-operative Bank Ltd., Chitradurga (Karnataka)
In view of the fact that the The Onake Obavva Mahila Co-operative Bank Ltd., Chitradurga (Karnataka) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Karnataka had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on May 12, 2006. The Registrar of Co-operative Societies, Karn
In view of the fact that the The Onake Obavva Mahila Co-operative Bank Ltd., Chitradurga (Karnataka) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Karnataka had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on May 12, 2006. The Registrar of Co-operative Societies, Karn
May 03, 2006
Reserve Bank Cancels the Licence of the Mahila Nagrik Sahkari Bank Maryadit, Khargone, Madhya Pradesh
In view of the fact that the Mahila Nagrik Sahkari Bank Maryadit, Khargone , Madhya Pradesh had ceased to be solvent, all efforts to revive it in close consultation with the Government of Madhya Pradesh had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on May 2, 2006 . The Registrar of Co-operative Societies, Madhya Pradesh has a
In view of the fact that the Mahila Nagrik Sahkari Bank Maryadit, Khargone , Madhya Pradesh had ceased to be solvent, all efforts to revive it in close consultation with the Government of Madhya Pradesh had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on May 2, 2006 . The Registrar of Co-operative Societies, Madhya Pradesh has a
Apr 26, 2006
RBI penalises Tamilnad Mercantile Bank
The Reserve Bank of India has, in exercise of powers vested in it under the provisions of Section 47A(1)(b) of the Banking Regulation Act, 1949, imposed a penalty of Rs. 5.00 Lakh (Rupees Five Lakh only) on the Tamilnad Mercantile Bank Ltd. The penalty has been levied for violation of RBI regulations in not ensuring end-use of bank's funds lent to various borrowers which was also facilitated by not ensuring diligent compliance with know your customer (KYC) norms in op
The Reserve Bank of India has, in exercise of powers vested in it under the provisions of Section 47A(1)(b) of the Banking Regulation Act, 1949, imposed a penalty of Rs. 5.00 Lakh (Rupees Five Lakh only) on the Tamilnad Mercantile Bank Ltd. The penalty has been levied for violation of RBI regulations in not ensuring end-use of bank's funds lent to various borrowers which was also facilitated by not ensuring diligent compliance with know your customer (KYC) norms in op
Mar 21, 2006
RBI Cancels the Licence of The Hyderabad Cooperative Urban Bank Ltd., Yakutpura, Hyderabad, (Andhra Pradesh)
In view of the fact that the Hyderabad Cooperative Urban Bank Ltd., Yakutpura, Hyderabad, (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 delivered the order, canceling its licence to the bank after the close of business on March 7, 2006. Immediately on cancellation of th
In view of the fact that the Hyderabad Cooperative Urban Bank Ltd., Yakutpura, Hyderabad, (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 delivered the order, canceling its licence to the bank after the close of business on March 7, 2006. Immediately on cancellation of th
Mar 09, 2006
Reserve Bank Cancels the Licence of The Dabhoi Nagrik Sahakari Bank Ltd., Dabhoi, Gujarat
In view of the fact that the Dabhoi Nagrik Sahakari Bank Ltd., Dabhoi Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on March 7,2006 . The Registrar of Co-operative Societies, Gujarat has also been requested to issu
In view of the fact that the Dabhoi Nagrik Sahakari Bank Ltd., Dabhoi Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on March 7,2006 . The Registrar of Co-operative Societies, Gujarat has also been requested to issu
Feb 16, 2006
Reserve Bank Cancels the Licence of The Dhansura People's Co-operative Bank Ltd., Dhansura, Gujarat
In view of the fact that the Dhansura People's Co-operative Bank Ltd., Dhansura Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on February 15, 2006 . The Registrar of Co-operative Societies, Gujarat has also been re
In view of the fact that the Dhansura People's Co-operative Bank Ltd., Dhansura Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on February 15, 2006 . The Registrar of Co-operative Societies, Gujarat has also been re
Jan 24, 2006
The Ganesh Bank of Kurundwad Ltd. branches to operate as The Federal Bank Ltd branches from January 25, 2006
The Government of India has today sanctioned the Scheme for the amalgamation of The Ganesh Bank of Kurundwad Ltd., with The Federal Bank Ltd. The amalgamation will come into force on January 25, 2006. All the branches of The Ganesh Bank of Kurundwad Ltd., will function as branches of The Federal Bank Ltd., with effect from this date. Customers, including depositors of The Ganesh Bank of Kurundwad Ltd., will be able to operate their accounts as customers of The Federal
The Government of India has today sanctioned the Scheme for the amalgamation of The Ganesh Bank of Kurundwad Ltd., with The Federal Bank Ltd. The amalgamation will come into force on January 25, 2006. All the branches of The Ganesh Bank of Kurundwad Ltd., will function as branches of The Federal Bank Ltd., with effect from this date. Customers, including depositors of The Ganesh Bank of Kurundwad Ltd., will be able to operate their accounts as customers of The Federal
Jan 07, 2006
GOI places Ganesh Bank of Kurundwad Ltd under Moratorium from Close of business on January 7, 2006
On an application of the Reserve Bank of India, the Central Government has today issued an Order of Moratorium in respect of the Ganesh Bank of Kurundwad Ltd Registered Office: Kurundwad, Kurundwad –416 106, Kolhapur (District), Maharashtra. The Order of Moratorium has been passed by the Central Government in the public interest, in the interest of depositors and the banking system. The moratorium will be effective from the close of business on Saturday January 7, 200
On an application of the Reserve Bank of India, the Central Government has today issued an Order of Moratorium in respect of the Ganesh Bank of Kurundwad Ltd Registered Office: Kurundwad, Kurundwad –416 106, Kolhapur (District), Maharashtra. The Order of Moratorium has been passed by the Central Government in the public interest, in the interest of depositors and the banking system. The moratorium will be effective from the close of business on Saturday January 7, 200
Dec 14, 2005
Reserve Bank Cancels the Licence of The Janata Co-operative Bank Ltd., Nadiad, Gujarat
In view of the fact that The Janata Co-operative Bank Ltd., Nadiad, Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India, on December 09, 2005 at 11.00 a. m. delivered the order cancelling its licence to the bank. The Registrar of Co-operative Societies, Gujarat has also been requested to issue an order
In view of the fact that The Janata Co-operative Bank Ltd., Nadiad, Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India, on December 09, 2005 at 11.00 a. m. delivered the order cancelling its licence to the bank. The Registrar of Co-operative Societies, Gujarat has also been requested to issue an order
Dec 07, 2005
Reserve Bank Cancels the Licence of Nagrik Sahakari Bank Maryadit, Ratlam, (Madhya Pradesh)
In view of the fact that the Nagrik Sahakari Bank Maryadit, Ratlam, (Madhya Pradesh) had ceased to be solvent, efforts to revive it in consultation with the Government of Madhya Pradesh had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India, on December 7, 2005, delivered the order canceling its licence to the bank. The Registrar of Cooperative Societies, Madhya Pradesh has also been requested to issue a
In view of the fact that the Nagrik Sahakari Bank Maryadit, Ratlam, (Madhya Pradesh) had ceased to be solvent, efforts to revive it in consultation with the Government of Madhya Pradesh had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India, on December 7, 2005, delivered the order canceling its licence to the bank. The Registrar of Cooperative Societies, Madhya Pradesh has also been requested to issue a
Nov 23, 2005
Reserve Bank Cancels the Licence of Natpur Cooperative Bank Ltd., Nadiad, Gujarat
In view of the fact that the Natpur Co-operative Bank Ltd., Nadiad Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India, on November 22, 2005, at 12.00 noon delivered the order cancelling its licence to the bank. The Registrar of Co-operative Societies, Gujarat has also been requested to issue an order
In view of the fact that the Natpur Co-operative Bank Ltd., Nadiad Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India, on November 22, 2005, at 12.00 noon delivered the order cancelling its licence to the bank. The Registrar of Co-operative Societies, Gujarat has also been requested to issue an order
Nov 18, 2005
Reserve Bank Rejects the Licence of The Kotagiri Co-operative Urban Bank Ltd., Kotagiri , Tamil Nadu
The Reserve Bank of India has on November 17, 2005 rejected the licence application of the Kotagiri Co-operative Urban Bank Ltd., Kotagiri, in view of the fact that it had ceased to be solvent. All efforts to revive it had failed and the depositors were being inconvenienced by continued uncertainty. The Registrar of Co-operative Societies, Chennai has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. It may be highlig
The Reserve Bank of India has on November 17, 2005 rejected the licence application of the Kotagiri Co-operative Urban Bank Ltd., Kotagiri, in view of the fact that it had ceased to be solvent. All efforts to revive it had failed and the depositors were being inconvenienced by continued uncertainty. The Registrar of Co-operative Societies, Chennai has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. It may be highlig
Nov 18, 2005
Reserve Bank Cancels the Licence of Sarvodaya Mahila Co-operative Bank Ltd., Burhanpur, (Madhya Pradesh)
In view of the fact that the Sarvodaya Mahila Co-operative Bank Ltd., Burhanpur, (Madhya Pradesh) had ceased to be solvent, efforts to revive it in consultation with the Government of Madhya Pradesh had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India, on November 17, 2005, delivered the order canceling its licence to the bank. The Registrar of Cooperative Societies, Madhya Pradesh has also been reques
In view of the fact that the Sarvodaya Mahila Co-operative Bank Ltd., Burhanpur, (Madhya Pradesh) had ceased to be solvent, efforts to revive it in consultation with the Government of Madhya Pradesh had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India, on November 17, 2005, delivered the order canceling its licence to the bank. The Registrar of Cooperative Societies, Madhya Pradesh has also been reques
Oct 28, 2005
Reserve Bank Cancels the Licence of The Anand People's Co-operative Bank Ltd., Anand, Gujarat
The Reserve Bank of India has on October 26, 2005 cancelled the licence granted to The Anand People's Co-operative Bank Ltd., Anand, Gujarat, in view of the fact that it had ceased to be solvent. All efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty. The Registrar of Cooperative Societies, Gujarat has also been requested to issue an order for winding up the bank an
The Reserve Bank of India has on October 26, 2005 cancelled the licence granted to The Anand People's Co-operative Bank Ltd., Anand, Gujarat, in view of the fact that it had ceased to be solvent. All efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty. The Registrar of Cooperative Societies, Gujarat has also been requested to issue an order for winding up the bank an
Sep 30, 2005
RBI imposes penalty on Kangra Central Co-operative Bank Limited, Kangra, Himachal Pradesh
The Reserve Bank of India imposed a penalty of Rs.5,00,000/- (Rupees five lakh only) on Kangra Central Co-operative Bank Limited, Kangra, Himachal Pradesh, under Section 46(4) read with Section 47(A)(1)(b) of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) for violation of instructions/guidelines issued by the Reserve Bank in regard to non-SLR investment. P.V.Sadanandan Manager Press Release: 2005-2006/408
The Reserve Bank of India imposed a penalty of Rs.5,00,000/- (Rupees five lakh only) on Kangra Central Co-operative Bank Limited, Kangra, Himachal Pradesh, under Section 46(4) read with Section 47(A)(1)(b) of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) for violation of instructions/guidelines issued by the Reserve Bank in regard to non-SLR investment. P.V.Sadanandan Manager Press Release: 2005-2006/408
Sep 17, 2005
Reserve Bank cancels the licence of The Metro Cooperative Bank Ltd., Surat, Gujarat
The Reserve Bank of India, vide its order of September 8, 2005 cancelled the licence granted to the Metro Cooperative Bank Ltd., Surat Gujarat, in view of the fact that it had ceased to be solvent. The order cancelling its licence was delivered to the bank on September 16, 2005 at 11.00 a. m. A requisition has been made to the Registrar of Cooperative Societies (RCS), Gujarat for winding up of The Metro Cooperative Bank Ltd., Surat, Gujarat and to appoint a liquidator
The Reserve Bank of India, vide its order of September 8, 2005 cancelled the licence granted to the Metro Cooperative Bank Ltd., Surat Gujarat, in view of the fact that it had ceased to be solvent. The order cancelling its licence was delivered to the bank on September 16, 2005 at 11.00 a. m. A requisition has been made to the Registrar of Cooperative Societies (RCS), Gujarat for winding up of The Metro Cooperative Bank Ltd., Surat, Gujarat and to appoint a liquidator
Sep 13, 2005
Reserve Bank Cancels the Licence of Shri Vitrag Co-operative Bank Ltd., Surat, Gujarat
The Reserve Bank of India, has on September 1, 2005, cancelled the licence granted to Shri Vitrag Co-operative Bank Ltd., Surat, Gujarat, in view of the fact that it had ceased to be solvent. The order canceling its licence was delivered to the bank on September 6, 2005. A requisition has been made to the Registrar of Co-operative Societies (RCS), Gujarat for winding up of Shri Vitrag Co-operative Bank Ltd., Surat, Gujarat and to appoint a liquidator therefore. It may
The Reserve Bank of India, has on September 1, 2005, cancelled the licence granted to Shri Vitrag Co-operative Bank Ltd., Surat, Gujarat, in view of the fact that it had ceased to be solvent. The order canceling its licence was delivered to the bank on September 6, 2005. A requisition has been made to the Registrar of Co-operative Societies (RCS), Gujarat for winding up of Shri Vitrag Co-operative Bank Ltd., Surat, Gujarat and to appoint a liquidator therefore. It may
Jun 11, 2005
Reserve Bank cancels the licence of The Century Co-operative Bank Ltd., Surat, Gujarat
The Reserve Bank of India, has on June 7, 2005, cancelled the licence granted to The Century Co-operative Bank Ltd., Surat, Gujarat, in view of the fact that it had ceased to be solvent. The order canceling its licence was delivered to the bank on June 10, 2005 at 10.00 a.m. A requisition has been made to the Registrar of Co-operative Societies, Gujarat for winding up of The Century Co-operative Bank Ltd., Surat, Gujarat and to appoint a liquidator therefor. It may be
The Reserve Bank of India, has on June 7, 2005, cancelled the licence granted to The Century Co-operative Bank Ltd., Surat, Gujarat, in view of the fact that it had ceased to be solvent. The order canceling its licence was delivered to the bank on June 10, 2005 at 10.00 a.m. A requisition has been made to the Registrar of Co-operative Societies, Gujarat for winding up of The Century Co-operative Bank Ltd., Surat, Gujarat and to appoint a liquidator therefor. It may be
Jun 08, 2005
Reserve Bank cancels the licence of Shri Swaminarayan Co-operative Bank Ltd. Vadodara, Gujarat
The Reserve Bank of India, has on June 2, 2005, cancelled the licence granted to Shri Swaminarayan Co-operative Bank Ltd.Vadodara., Gujarat, in view of the fact that it had ceased to be solvent. The order canceling the licence was delivered to the bank on June 7, 2005. The Registrar of Co-operative Societies, Gujarat has been requested for winding up of Shri Swaminarayan Co-operative Bank Ltd.Vadodara, Gujarat and to appoint a liquidator thereof. The Reserve Bank furt
The Reserve Bank of India, has on June 2, 2005, cancelled the licence granted to Shri Swaminarayan Co-operative Bank Ltd.Vadodara., Gujarat, in view of the fact that it had ceased to be solvent. The order canceling the licence was delivered to the bank on June 7, 2005. The Registrar of Co-operative Societies, Gujarat has been requested for winding up of Shri Swaminarayan Co-operative Bank Ltd.Vadodara, Gujarat and to appoint a liquidator thereof. The Reserve Bank furt
Jun 08, 2005
Reserve Bank cancels the licence of The Royale Co-operative Bank Ltd., Surat, Gujarat
The Reserve Bank of India, has on June 2, 2005, cancelled the licence granted to the Royale Co-operative Bank Ltd., Surat, Gujarat, in view of the fact that it had ceased to be solvent. The order canceling the licence was delivered to the bank on June 7, 2005. The Registrar of Co-operative Societies, Gujarat has been requested for winding up of The Royale Co-operative Bank Ltd., Surat, Gujarat and to appoint a liquidator thereof. The Reserve Bank further said that eve
The Reserve Bank of India, has on June 2, 2005, cancelled the licence granted to the Royale Co-operative Bank Ltd., Surat, Gujarat, in view of the fact that it had ceased to be solvent. The order canceling the licence was delivered to the bank on June 7, 2005. The Registrar of Co-operative Societies, Gujarat has been requested for winding up of The Royale Co-operative Bank Ltd., Surat, Gujarat and to appoint a liquidator thereof. The Reserve Bank further said that eve
May 25, 2005
Sivagangai District Central Co-operative Bank Ltd.
There have been enquiries regarding the present status of the Sivagangai District Central Co-operative Bank Ltd., which has been placed under directions. The National Bank for Agriculture and Rural Development (NABARD) has since completed the inspection of the Sivagangai District Central Co-operative Bank Ltd., and submitted its report to the Reserve Bank of India. A copy of the report has also been forwarded to the Sivagangai District Central Co-operative Bank Ltd. B
There have been enquiries regarding the present status of the Sivagangai District Central Co-operative Bank Ltd., which has been placed under directions. The National Bank for Agriculture and Rural Development (NABARD) has since completed the inspection of the Sivagangai District Central Co-operative Bank Ltd., and submitted its report to the Reserve Bank of India. A copy of the report has also been forwarded to the Sivagangai District Central Co-operative Bank Ltd. B
May 05, 2005
Dialogue with Cooperative Banks: RBI Clarification
It is reported in a section of the press that the Reserve Bank of India (RBI) has communicated to around 100 loss making cooperative banks across the country to surrender their banking licences, merge with healthier banks or face liquidation and that banks in Gr.III category have been given six months time to improve performance and graduate to the next level.It is clarified that the Reserve Bank has not issued any such communication to any bank. It may be mentioned h
It is reported in a section of the press that the Reserve Bank of India (RBI) has communicated to around 100 loss making cooperative banks across the country to surrender their banking licences, merge with healthier banks or face liquidation and that banks in Gr.III category have been given six months time to improve performance and graduate to the next level.It is clarified that the Reserve Bank has not issued any such communication to any bank. It may be mentioned h
Apr 26, 2005
Sivagangai District Central Co-operative Bank Ltd., Sivagangai, Tamil Nadu
There have been enquiries regarding the present status of the Sivagangai District Central Co-operative Bank Ltd., which has been placed under directions recently.National Bank for Agriculture and Rural Development (NABARD) has undertaken an inspection of the bank to find out its financial position as on March 31, 2005. It has been ascertained from NABARD that the audit work of the bank as on March 31, 2005 is still under progress and the relevant data pertaining to th
There have been enquiries regarding the present status of the Sivagangai District Central Co-operative Bank Ltd., which has been placed under directions recently.National Bank for Agriculture and Rural Development (NABARD) has undertaken an inspection of the bank to find out its financial position as on March 31, 2005. It has been ascertained from NABARD that the audit work of the bank as on March 31, 2005 is still under progress and the relevant data pertaining to th
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
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
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.
Install the RBI mobile application and get quick access to the latest news!
Page Last Updated on: May 30, 2025
