Press Releases - Regulating Co-operative Banking - આરબીઆઈ - Reserve Bank of India
પ્રેસ રિલીઝ
સપ્ટે 28, 2011
The Mansa Nagarik Sahakari Bank Lld., Mansa, Dist. Gandhinagar - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Mansa Nagarik Sahakari Bank Lld., Mansa, Dist. Gandhinagar, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank India's instructions on submission of Cash Transaction Reports (CTRs) in respect of cash transaction above ` 10.00 lakh to Financial In
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Mansa Nagarik Sahakari Bank Lld., Mansa, Dist. Gandhinagar, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank India's instructions on submission of Cash Transaction Reports (CTRs) in respect of cash transaction above ` 10.00 lakh to Financial In
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સપ્ટે 26, 2011
Porbandar Vibhagiya Nagarik Sahakari Bank Ltd., Porbandar - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on the Porbandar Vibhagiya Nagarik Sahakari Bank Ltd., Porbandar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of Reserve Bank of India's instructions regarding Know Your Customers (KYC) norms and Anti Money Laundering
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on the Porbandar Vibhagiya Nagarik Sahakari Bank Ltd., Porbandar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of Reserve Bank of India's instructions regarding Know Your Customers (KYC) norms and Anti Money Laundering
સપ્ટે 26, 2011
Shri Mahavir Urban Co-operative Bank Ltd., Solapur - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on the Shri Mahavir Urban Co-operative Bank Ltd., Solapur, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of the directives guidelines of the Reserve Bank on individual/single exposure ceiling for lending operations by Urban Co-o
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on the Shri Mahavir Urban Co-operative Bank Ltd., Solapur, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of the directives guidelines of the Reserve Bank on individual/single exposure ceiling for lending operations by Urban Co-o
સપ્ટે 09, 2011
RBI penalises Credit Agricole - Corporate & Investment Bank and Karnataka Bank for Non-Compliance with Its Directives on Derivatives
The Reserve Bank of India has imposed a penalty of Rs.10 lakh (Rupees Ten Lakh only) on Credit Agricole – Corporate & Investment Bank and a penalty of Rs. Five lakh (Rupees five lakh only) on Karnataka Bank Limited for non-compliance with its directives on derivatives. The penalty on Credit Agricole – Corporate & Investment Bank has been imposed for failing to carry out proper due diligence on user appropriateness and suitability of products and the compliance
The Reserve Bank of India has imposed a penalty of Rs.10 lakh (Rupees Ten Lakh only) on Credit Agricole – Corporate & Investment Bank and a penalty of Rs. Five lakh (Rupees five lakh only) on Karnataka Bank Limited for non-compliance with its directives on derivatives. The penalty on Credit Agricole – Corporate & Investment Bank has been imposed for failing to carry out proper due diligence on user appropriateness and suitability of products and the compliance
સપ્ટે 08, 2011
The Sankheda Nagarik Sahakari Bank Limited, Sankheda, Dist. Vadodara - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Sankheda Nagrik Sahakari Bank Limited, Sankheda, Dist. Vadodara, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not submission of Cash Transaction Reports (CTRs) in respect of cash transaction in excess of ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), a
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Sankheda Nagrik Sahakari Bank Limited, Sankheda, Dist. Vadodara, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not submission of Cash Transaction Reports (CTRs) in respect of cash transaction in excess of ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), a
સપ્ટે 07, 2011
Reserve Bank Cancels the license of Tandur Mahila Co-operative Bank Ltd. Tandur - Andhra Pradesh
In view of the fact that the operations of the Tandur Mahila Co-operative Urban Bank Ltd., Tandur (Andhra Pradesh), were practically defunct with no scope for revival in the foreseeable future and all efforts to ensure regulatory compliance in consultations with the Government of Andhra Pradesh had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order dated August 22, 2011 canceling its license to t
In view of the fact that the operations of the Tandur Mahila Co-operative Urban Bank Ltd., Tandur (Andhra Pradesh), were practically defunct with no scope for revival in the foreseeable future and all efforts to ensure regulatory compliance in consultations with the Government of Andhra Pradesh had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order dated August 22, 2011 canceling its license to t
સપ્ટે 06, 2011
The Surat People's Co-operative Bank Ltd., Dist. Surat (Gujarat) - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Surat People's Co-operative Bank Ltd., Dist. Surat (Gujarat), in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions on director related loan accounts. The Reserve Bank of India had issued a show cause notice to the bank in
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Surat People's Co-operative Bank Ltd., Dist. Surat (Gujarat), in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions on director related loan accounts. The Reserve Bank of India had issued a show cause notice to the bank in
ઑગસ્ટ 30, 2011
Shri Janata Sahakari Bank Limited, Halol, Dist. Panchmahal - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shri Janata Sahakari Bank Limited, Halol, Dist. Panchmahal, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not reporting cash transactions in excess of ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), as required under the Anti Money Laundering (AML) guideline
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shri Janata Sahakari Bank Limited, Halol, Dist. Panchmahal, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not reporting cash transactions in excess of ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), as required under the Anti Money Laundering (AML) guideline
ઑગસ્ટ 18, 2011
Rajkot Commercial Co-operative Bank Ltd., Rajkot - Penalised
The Reserve Bank of India has imposed a monetary penalty of `2.00 lakh (Rupees two lakh only) on Rajkot Commercial Co-operative Bank Limited, Rajkot, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions regarding grant of unsecured advances in excess of prescribed ceiling and director related advances. The Reserve
The Reserve Bank of India has imposed a monetary penalty of `2.00 lakh (Rupees two lakh only) on Rajkot Commercial Co-operative Bank Limited, Rajkot, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions regarding grant of unsecured advances in excess of prescribed ceiling and director related advances. The Reserve
ઑગસ્ટ 16, 2011
The Becharaji Nagarik Sahakari Bank Ltd., Becharaji, Dist. Mehsana, Gujarat - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Becharaji Nagarik Sahakari Bank Limited, Becharaji, Dist. Mehsana, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions relating to Know Your Customer (KYC) norms and Anti Money Laundering (AML) guidelines. The Rese
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Becharaji Nagarik Sahakari Bank Limited, Becharaji, Dist. Mehsana, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions relating to Know Your Customer (KYC) norms and Anti Money Laundering (AML) guidelines. The Rese
ઑગસ્ટ 09, 2011
Teachers' Co-operative Bank Limited, Udupi, Karnataka - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Teachers' Co-operative Bank Limited, Udupi, Karnataka, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directives on collection of third party account payee cheques. The Reserve Bank of India had issued a show cause notice to the bank
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Teachers' Co-operative Bank Limited, Udupi, Karnataka, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directives on collection of third party account payee cheques. The Reserve Bank of India had issued a show cause notice to the bank
ઑગસ્ટ 08, 2011
The Sawaimadhopur Urban Co-operative Bank Limited, Sawaimadhopur - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Sawaimadhopur Urban Co-operative Bank Limited, Sawaimadhopur, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/guidelines pertaining to the ceiling on unsecured advances applicable in case of urban co-operative Banks. The R
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Sawaimadhopur Urban Co-operative Bank Limited, Sawaimadhopur, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/guidelines pertaining to the ceiling on unsecured advances applicable in case of urban co-operative Banks. The R
ઑગસ્ટ 05, 2011
Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat) - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat), in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/instructions relating to filing of Suspicious Transaction Reports as required under Anti Money Laundering guideline
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat), in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/instructions relating to filing of Suspicious Transaction Reports as required under Anti Money Laundering guideline
જુલાઈ 29, 2011
The Kalupur Commercial Co-operative Bank Ltd., Ahmedabad - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Kalupur Commercial Co-operative Bank Ltd., Ahmedabad, District Ahmedabad in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of provisions of Banking Regulation Act/Reserve Bank of India directives/instructions relating to Kno
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Kalupur Commercial Co-operative Bank Ltd., Ahmedabad, District Ahmedabad in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of provisions of Banking Regulation Act/Reserve Bank of India directives/instructions relating to Kno
જુલાઈ 15, 2011
The Pioneer Urban Co-operative Bank Ltd., Belgaum, Karnataka - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Pioneer Urban Co-operative Bank Ltd., Belgaum, Karnataka, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating the Reserve Bank's instructions for sanctioning loan to a company in which a director of the Bank is interested and suppressing such information by not r
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Pioneer Urban Co-operative Bank Ltd., Belgaum, Karnataka, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating the Reserve Bank's instructions for sanctioning loan to a company in which a director of the Bank is interested and suppressing such information by not r
જુલાઈ 15, 2011
The Jagruti Co-operative Bank Ltd., Belgaum, Karnataka - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Jagruti Co-operative Bank Ltd., Belgaum, Karnataka, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating the Reserve Bank of India's instructions by sanctioning loans to present directors, their relatives and firms / concerns in which they are interested and suppr
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Jagruti Co-operative Bank Ltd., Belgaum, Karnataka, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating the Reserve Bank of India's instructions by sanctioning loans to present directors, their relatives and firms / concerns in which they are interested and suppr
જુલાઈ 15, 2011
The Citizen Co-operative Bank Limited, Bangalore - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Citizen Co-operative Bank Limited, Bangalore, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating the Reserve Bank of India's instructions by sanctioning / renewing loans to the relatives of the director of the bank and suppressing such information by not reporti
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Citizen Co-operative Bank Limited, Bangalore, in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating the Reserve Bank of India's instructions by sanctioning / renewing loans to the relatives of the director of the bank and suppressing such information by not reporti
જુલાઈ 13, 2011
Kodagu District Co-operative Central Bank Ltd. - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Kodagu District Co-operative Central Bank Ltd., Madikeri, N. Kodagu (Karnataka) in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violating regulatory guidelines issued by the Reserve Bank on Non-SLR investments. The Reserve Bank of India had issued a show cause notice to the bank, i
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Kodagu District Co-operative Central Bank Ltd., Madikeri, N. Kodagu (Karnataka) in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violating regulatory guidelines issued by the Reserve Bank on Non-SLR investments. The Reserve Bank of India had issued a show cause notice to the bank, i
જુલાઈ 13, 2011
The Mehsana Urban Co-operative Bank Ltd. - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Mehsana Urban Co-operative Bank Ltd., Mehsana, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/guidelines relating to admission of co-operative societies as nominal members in violation of provisions of Section 5(ccv) of B
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Mehsana Urban Co-operative Bank Ltd., Mehsana, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/guidelines relating to admission of co-operative societies as nominal members in violation of provisions of Section 5(ccv) of B
જુલાઈ 11, 2011
The Dahod Urban Co-operative Bank Limited, Dahod - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Dahod Urban Co-operative Bank Limited, Dahod, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/guidelines relating to share linking norms, single and group borrower exposure limits, grant of donation beyond the permissible l
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Dahod Urban Co-operative Bank Limited, Dahod, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/guidelines relating to share linking norms, single and group borrower exposure limits, grant of donation beyond the permissible l
જુલાઈ 11, 2011
Pragati Sahakari Bank Limited, Vadodara - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Pragati Sahakari Bank Limited, Vadodara, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violations of Reserve Bank of India directives/instructions/guidelines relating to share linking norms, single borrower exposure ceiling and Anti Money Laundering (AML) guidelines for
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Pragati Sahakari Bank Limited, Vadodara, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violations of Reserve Bank of India directives/instructions/guidelines relating to share linking norms, single borrower exposure ceiling and Anti Money Laundering (AML) guidelines for
જુલાઈ 08, 2011
Kolhapur District Central Co-operative Bank Ltd. - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Kolhapur District Central Co-operative Bank Ltd., Kolhapur, Maharashtra in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violating guidelines issued by the Reserve Bank on Know Your Customers (KYC) norms / Anti Money Laundering (AML) standards. The Reserve Bank of India had issued a
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Kolhapur District Central Co-operative Bank Ltd., Kolhapur, Maharashtra in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violating guidelines issued by the Reserve Bank on Know Your Customers (KYC) norms / Anti Money Laundering (AML) standards. The Reserve Bank of India had issued a
જૂન 23, 2011
The Prerana Co-operative Bank Ltd., Pune - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Prerana Co-operative Bank Ltd., Pune, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directives on unsecured advances. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Prerana Co-operative Bank Ltd., Pune, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directives on unsecured advances. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank
જૂન 23, 2011
Reserve Bank Cancels the Licence of Siddharth Sahakari Bank Ltd., Pune (Maharashtra)
In view of the fact that Siddharth Sahakari Bank Ltd, Pune, 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 before commencement of business on June 14, 2011. The Registrar of Co-operative Societies, Maharashtra has also been requested to
In view of the fact that Siddharth Sahakari Bank Ltd, Pune, 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 before commencement of business on June 14, 2011. The Registrar of Co-operative Societies, Maharashtra has also been requested to
જૂન 17, 2011
The Padra Nagar Nagarik Sahakari Bank Ltd., Vadodara - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Padra Nagar Nagarik Sahakari Bank Limited, Vadodara, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not reporting of cash transactions above ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), as required under the Anti Money Laundering (AML) guidel
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Padra Nagar Nagarik Sahakari Bank Limited, Vadodara, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not reporting of cash transactions above ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), as required under the Anti Money Laundering (AML) guidel
જૂન 16, 2011
The Pij People's Co-operative Bank Ltd., Pij, Dist. Kheda - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Pij People's Co-operative Bank Limited, Pij Dist. Kheda, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not reporting cash transactions in excess of ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), as required under the Anti Money Laundering (AML
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Pij People's Co-operative Bank Limited, Pij Dist. Kheda, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not reporting cash transactions in excess of ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), as required under the Anti Money Laundering (AML
જૂન 16, 2011
The Jivan Commercial Co-operative Bank Ltd., Rajkot - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Jivan Commercial Co-operative Bank Ltd., Rajkot, Gujarat in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating Know Your Customers (KYC) norms, guidelines on advances to builders and contractors against security of land, Anti Money Laundering (AML) guidelines, ind
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Jivan Commercial Co-operative Bank Ltd., Rajkot, Gujarat in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating Know Your Customers (KYC) norms, guidelines on advances to builders and contractors against security of land, Anti Money Laundering (AML) guidelines, ind
જૂન 08, 2011
The Gandhinagar Nagrik Co-operative Bank Ltd., Gandhinagar - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Gandhinagar Nagrik Co-operative Bank Ltd., Gandhinagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violations of allowing interest rebate in loan accounts of directors and non-adherence to Know Your Costumer (KYC) norms. The Reserve Bank of India had issued a show
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Gandhinagar Nagrik Co-operative Bank Ltd., Gandhinagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violations of allowing interest rebate in loan accounts of directors and non-adherence to Know Your Costumer (KYC) norms. The Reserve Bank of India had issued a show
મે 31, 2011
Reserve Bank Cancels the Licence of Chopda Urban Co-operative Bank Ltd., Jalgaon (Maharashtra)
In view of the fact that Chopda Urban Co-operative Bank Ltd, Jalgaon, 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 before commencement of business on May 24, 2011. The Registrar of Co-operative Societies, Maharashtra has also been req
In view of the fact that Chopda Urban Co-operative Bank Ltd, Jalgaon, 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 before commencement of business on May 24, 2011. The Registrar of Co-operative Societies, Maharashtra has also been req
મે 26, 2011
The Unava Nagarik Sahakari Bank Ltd., Unava - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Unava Nagarik Sahakari Bank Ltd., Unava, Dist. Mehsana, Gujarat in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions by non-adherence to Anti Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice to
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Unava Nagarik Sahakari Bank Ltd., Unava, Dist. Mehsana, Gujarat in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions by non-adherence to Anti Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice to
મે 24, 2011
The Commercial Co-operative Bank Ltd., Jamnagar - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on The Commercial Co-operative Bank Ltd., Jamnagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not displaying its name properly in all stationery and advertisements, for making donation beyond prescribed limit and for not implementing Know Your Costumer (KYC) norms. The
The Reserve Bank of India has imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on The Commercial Co-operative Bank Ltd., Jamnagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not displaying its name properly in all stationery and advertisements, for making donation beyond prescribed limit and for not implementing Know Your Costumer (KYC) norms. The
મે 19, 2011
The Kheralu Nagarik Sahakari Bank Ltd., Kheralu, Dist. Mehsana (Gujarat) - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Kheralu Nagarik Sahakari Bank Ltd., Kheralu, Dist. Mehsana (Gujarat), in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) by sanctioning hypothecation loans in violation of operational instructions issued by Reserve Bank of India and non-adherence to `Know Your Costumer' (KYC
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Kheralu Nagarik Sahakari Bank Ltd., Kheralu, Dist. Mehsana (Gujarat), in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) by sanctioning hypothecation loans in violation of operational instructions issued by Reserve Bank of India and non-adherence to `Know Your Costumer' (KYC
મે 09, 2011
The Randheja Commercial Co-operative Bank Ltd., Randheja Dist., Gandhinagar - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Randheja Commercial Co-operative Bank Ltd., Randheja Dist., Gandhinagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on implementation of `Know Your Costumer' (KYC) guidelines and donation exceeding the ceiling prescr
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Randheja Commercial Co-operative Bank Ltd., Randheja Dist., Gandhinagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on implementation of `Know Your Costumer' (KYC) guidelines and donation exceeding the ceiling prescr
મે 09, 2011
The Gandevi People's Co-operative Bank Limited, Navsari - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Gandevi People's Co-operative Bank Limited, Navsari in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not adhering to RBI instructions/directives on reporting of cash transactions above `10.00 lakh as required under Anti Money Laundering (AML) guidelines. The Reserve Ba
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Gandevi People's Co-operative Bank Limited, Navsari in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not adhering to RBI instructions/directives on reporting of cash transactions above `10.00 lakh as required under Anti Money Laundering (AML) guidelines. The Reserve Ba
મે 05, 2011
The Limbasi Urban Co-operative Bank Limited, Limbasi, Dist. Kheda - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Limbasi Urban Co-operative Bank Limited, Limbasi Dist. Kheda, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions for reporting of cash transactions in excess of ` 10.00 lakh to Financial Intelligence Unit-India (
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Limbasi Urban Co-operative Bank Limited, Limbasi Dist. Kheda, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions for reporting of cash transactions in excess of ` 10.00 lakh to Financial Intelligence Unit-India (
મે 05, 2011
Ahmedabad District Central Co-operative Bank Ltd., Ahmedabad - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Ahmedabad District Central Co-operative Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violating guidelines issued by Reserve Bank of India on Know Your Customers (KYC) norms and Anti Money Laundering (AML) standards. The Reserve Bank of India had iss
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Ahmedabad District Central Co-operative Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violating guidelines issued by Reserve Bank of India on Know Your Customers (KYC) norms and Anti Money Laundering (AML) standards. The Reserve Bank of India had iss
મે 04, 2011
Chopda People's Co-operative Bank Ltd., Jalgaon - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Chopda People's Co-operative Bank Ltd., Jalgaon, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating the provision of Section 5 (ccv) of the Banking Regulation Act, 1949 (AACS) and violation of Reserve Bank of India directive on unsecured advances. The R
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Chopda People's Co-operative Bank Ltd., Jalgaon, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating the provision of Section 5 (ccv) of the Banking Regulation Act, 1949 (AACS) and violation of Reserve Bank of India directive on unsecured advances. The R
એપ્રિલ 29, 2011
Manipal Co-operative Bank Ltd., Manipal, Karnataka - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Manipal Co-operative Bank Ltd., Manipal, Karnataka in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating Reserve Bank of India directives/instructions by granting loans for real estate purpose exceeding the single party exposure limit of 15 per cent of its capital fu
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Manipal Co-operative Bank Ltd., Manipal, Karnataka in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating Reserve Bank of India directives/instructions by granting loans for real estate purpose exceeding the single party exposure limit of 15 per cent of its capital fu
એપ્રિલ 28, 2011
RBI releases Discussion Paper on Deregulation of Savings Bank Deposit Rate
As indicated in the Second Quarter Review of Monetary Policy 2010-11 on November 2, 2010, the Reserve Bank of India has today released on its website a Discussion Paper on ‘Deregulation of Savings Bank Deposit Interest Rate’. In the light of pros and cons of deregulation of savings deposit interest rate as set out in the Discussion Paper, the Reserve Bank has sought feedback from the general public on the following issues: Should savings deposit interest rate be dereg
As indicated in the Second Quarter Review of Monetary Policy 2010-11 on November 2, 2010, the Reserve Bank of India has today released on its website a Discussion Paper on ‘Deregulation of Savings Bank Deposit Interest Rate’. In the light of pros and cons of deregulation of savings deposit interest rate as set out in the Discussion Paper, the Reserve Bank has sought feedback from the general public on the following issues: Should savings deposit interest rate be dereg
એપ્રિલ 25, 2011
The Bhuj Mercantile Co-operative Bank Ltd., Bhuj, Dist. Kutch - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Bhuj Co-operative Bank Ltd., Bhuj, Dist. Kutch. The penalty was imposed for various violations of RBI instructions relating to Know Yours Customer (KYC) norms, Anti-Money Laundering (AML) guidelines, temporary overdrafts (TOD) and use of the bank's name without the word `Co-operative'. The Reserve Bank had issued a show cause notice to The Bhuj Co-operative Bank Ltd.
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Bhuj Co-operative Bank Ltd., Bhuj, Dist. Kutch. The penalty was imposed for various violations of RBI instructions relating to Know Yours Customer (KYC) norms, Anti-Money Laundering (AML) guidelines, temporary overdrafts (TOD) and use of the bank's name without the word `Co-operative'. The Reserve Bank had issued a show cause notice to The Bhuj Co-operative Bank Ltd.
એપ્રિલ 25, 2011
Independence Co-operative Bank Ltd., Nasik - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Independence Co-operative Bank Ltd., 6, 1st Floor, Memon Chamber's, Tilak Path, Nasik - 422 001 in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directive on Directors related loans. The Reserve Bank of India had issued a show cause notic
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Independence Co-operative Bank Ltd., 6, 1st Floor, Memon Chamber's, Tilak Path, Nasik - 422 001 in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directive on Directors related loans. The Reserve Bank of India had issued a show cause notic
એપ્રિલ 21, 2011
Reserve Bank Cancels the Licence of Shri Balaji Co-operative Bank Ltd., Nashik (Maharashtra)
In view of the fact that Shri Balaji Co-operative 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 cancelling its licence to the bank before commencement of business on April 07, 2011. The Registrar of Co-operative Societies, Maharashtra has also been req
In view of the fact that Shri Balaji Co-operative 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 cancelling its licence to the bank before commencement of business on April 07, 2011. The Registrar of Co-operative Societies, Maharashtra has also been req
એપ્રિલ 19, 2011
Dwarakadas Mantri Nagari Sahakari Bank Ltd., Beed, Dist. Beed - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Dwarakadas Mantri Nagari Sahakari Bank Ltd., Beed, Dist. Beed in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating Reserve Bank of India directives/instructions relating to "Loans/Advances to Directors/their relatives/concerns in which they are interested". The Rese
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Dwarakadas Mantri Nagari Sahakari Bank Ltd., Beed, Dist. Beed in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating Reserve Bank of India directives/instructions relating to "Loans/Advances to Directors/their relatives/concerns in which they are interested". The Rese
એપ્રિલ 15, 2011
The Siddhi Co-operative Bank Ltd., Ahmedabad - Penalised
The Reserve Bank of India, imposed a monetary penalty of Rs. 5.00 lakh (Rupees five lakh only) on The Siddhi Co-operative Bank Ltd., Ahmedabad. The penalty was imposed for violation of RBI instructions/directions on Know Your Customer (KYC) / Anti Money Laundering (AML) and for submitting improper compliance of the observations made in its last inspection report. The Reserve Bank had issued a show cause notice to The Siddhi Co-operative Bank Ltd. The bank submitted a
The Reserve Bank of India, imposed a monetary penalty of Rs. 5.00 lakh (Rupees five lakh only) on The Siddhi Co-operative Bank Ltd., Ahmedabad. The penalty was imposed for violation of RBI instructions/directions on Know Your Customer (KYC) / Anti Money Laundering (AML) and for submitting improper compliance of the observations made in its last inspection report. The Reserve Bank had issued a show cause notice to The Siddhi Co-operative Bank Ltd. The bank submitted a
એપ્રિલ 15, 2011
Shri Vinayak Sahakari Bank Ltd., Ahmedabad - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Shri Vinayak Sahakari Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on unsecured advances, Know Your Customers (KYC) norms and Anti Money Laundering (AML) guidelines, shortage in cash balance
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Shri Vinayak Sahakari Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on unsecured advances, Know Your Customers (KYC) norms and Anti Money Laundering (AML) guidelines, shortage in cash balance
એપ્રિલ 15, 2011
The Suvikas People's Co-operative Bank Ltd., Ahmedabad - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Suvikas Co-operative Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on Know Your Customers (KYC). The Reserve Bank of India had issued a show cause notice to the bank, in response to which
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Suvikas Co-operative Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on Know Your Customers (KYC). The Reserve Bank of India had issued a show cause notice to the bank, in response to which
એપ્રિલ 15, 2011
The Botad People's Co-operative Bank Limited, Botad, Dist. Bhavnagar, Gujarat - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Botad People's Co-operative Bank Limited, Botad, Dist. Bhavnagar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violations of Reserve Bank of India instructions in respect of reporting of cash transactions above ` 10.00 lakh to Financial Intelligence Unit-I
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Botad People's Co-operative Bank Limited, Botad, Dist. Bhavnagar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violations of Reserve Bank of India instructions in respect of reporting of cash transactions above ` 10.00 lakh to Financial Intelligence Unit-I
એપ્રિલ 13, 2011
The Salal Sarvoday Nagarik Sahakari Bank Limited, Salal, Dist. Sabarkantha, Gujarat - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on The Salal Sarvoday Nagrik Sahakari Bank Limited, Salal, Dist. Sabarkantha, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on submission of reports of cash transactions above ` 10.00 lakh to Financial Intelligence U
The Reserve Bank of India has imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on The Salal Sarvoday Nagrik Sahakari Bank Limited, Salal, Dist. Sabarkantha, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on submission of reports of cash transactions above ` 10.00 lakh to Financial Intelligence U
એપ્રિલ 13, 2011
The Kushtagi Pattana Sahakara Bank Niyanit, Kushtagi, Dist. Koppal - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Kushtagi Pattana Sahakara Bank Niyanit, Kushtagi, Dist. Koppal, Karnataka in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 as applicable to Co-operative Societies (AACS) for violation of the provisions of Section 36(1)(a) of the Banking Regulation Act, 1949 (AACS) relating to gr
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Kushtagi Pattana Sahakara Bank Niyanit, Kushtagi, Dist. Koppal, Karnataka in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 as applicable to Co-operative Societies (AACS) for violation of the provisions of Section 36(1)(a) of the Banking Regulation Act, 1949 (AACS) relating to gr
એપ્રિલ 13, 2011
The Ankola Urban Cooperative Bank Limited, Ankola, Dist. Uttara Kannada - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on The Ankola Urban Co-operative Bank Limited, Ankola, Dist. Uttara Kannada, Karnataka in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of the provisions of Section 36(1)(a) of the Banking Regulation Act, 1949 (AACS) relating to sanctioning of unsecured advances in
The Reserve Bank of India has imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on The Ankola Urban Co-operative Bank Limited, Ankola, Dist. Uttara Kannada, Karnataka in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of the provisions of Section 36(1)(a) of the Banking Regulation Act, 1949 (AACS) relating to sanctioning of unsecured advances in
એપ્રિલ 11, 2011
The Rander People's Cooperative Bank Limited, Rander, Dist. Surat, Gujarat - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Rander People's Co-operative Bank Limited, Rander, Dist. Surat, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for certain violation of Reserve Bank of India instructions by non-adherence to Anti Money Laundering (AML) guidelines in regard to submission of repor
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Rander People's Co-operative Bank Limited, Rander, Dist. Surat, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for certain violation of Reserve Bank of India instructions by non-adherence to Anti Money Laundering (AML) guidelines in regard to submission of repor
એપ્રિલ 11, 2011
Shree Mahalaxmi Mercantile Cooperative Bank Limited, Dabhoi, Dist. Vadodara, Gujarat - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shree Mahalaxmi Mercantile Co-operative Bank Limited, Dabhoi, Dist. Vadodara, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of operational instructions by sanctioning fresh loans and advances. The Reserve Bank of India had issued a show cause notice to
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shree Mahalaxmi Mercantile Co-operative Bank Limited, Dabhoi, Dist. Vadodara, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of operational instructions by sanctioning fresh loans and advances. The Reserve Bank of India had issued a show cause notice to
એપ્રિલ 08, 2011
Reserve Bank of India penalises Shree Savli Nagrik Sahakari Bank Ltd., District Vadodara
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shree Savli Nagrik Sahakari Bank Ltd., District Vadodara. The penalty was imposed for not adhering to Reserve Bank of India instructions/guidelines on Anti-Money Laundering (AML) guidelines. The Reserve Bank had issued a show cause
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shree Savli Nagrik Sahakari Bank Ltd., District Vadodara. The penalty was imposed for not adhering to Reserve Bank of India instructions/guidelines on Anti-Money Laundering (AML) guidelines. The Reserve Bank had issued a show cause
એપ્રિલ 07, 2011
Reserve Bank of India penalises Shree Bharat Co-operative Bank Ltd., Vadodara
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shree Bharat Co-operative Bank Ltd., Vadodara. The penalty was imposed for violation of Reserve Bank of India directives/guidelines by not adhering to Anti-Money Laundering (AML) guidelines, regarding submission of reports for cash
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shree Bharat Co-operative Bank Ltd., Vadodara. The penalty was imposed for violation of Reserve Bank of India directives/guidelines by not adhering to Anti-Money Laundering (AML) guidelines, regarding submission of reports for cash
એપ્રિલ 07, 2011
Reserve Bank of India penalises Navsarjan Industrial Co-operative Bank Ltd., Amkleshwar
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Navsarjan Industrial Co-operative Bank Ltd., Ankleshwar. The penalty was imposed for not adhering to Anti-Money Laundering (AML) guidelines. The Reserve Bank had issued a show cause notice to the bank, in response to which the bank
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Navsarjan Industrial Co-operative Bank Ltd., Ankleshwar. The penalty was imposed for not adhering to Anti-Money Laundering (AML) guidelines. The Reserve Bank had issued a show cause notice to the bank, in response to which the bank
એપ્રિલ 07, 2011
Reserve Bank of India penalises The Waghodia Urban Co-operative Bank Ltd., District Vadodara
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Waghodia Urban Co-operative Bank Limited, District Vadodara. The penalty was imposed for violation of Reserve Bank of India directives/guidelines by not adhering to Anti-Money Laundering (AML) guidelines. The Reserve Bank had is
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Waghodia Urban Co-operative Bank Limited, District Vadodara. The penalty was imposed for violation of Reserve Bank of India directives/guidelines by not adhering to Anti-Money Laundering (AML) guidelines. The Reserve Bank had is
એપ્રિલ 05, 2011
Reserve Bank of India penalises The Mehsana Urban Co-operative Bank Ltd., Mehsana (Gujarat)
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on The Mehsana Urban Co-operative Bank Ltd., Mehsana (Gujarat) The penalty was imposed for violation of Reserve Bank instructions on membership of co-operative societies, conduct of non-banking business, use of work "Bank" in the name
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on The Mehsana Urban Co-operative Bank Ltd., Mehsana (Gujarat) The penalty was imposed for violation of Reserve Bank instructions on membership of co-operative societies, conduct of non-banking business, use of work "Bank" in the name
એપ્રિલ 04, 2011
Reserve Bank of India penalises The Jamnagar Peoples Co-operative Bank Ltd., Jamnagar
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Jamnagar Peoples Co-operative Bank Ltd., Jamnagar. The penalty was imposed for violation of the Reserve Bank instructions in respect of reporting of cash transactions above `10.00 lakh to FIU-IND, New Delhi. The Reserve Bank had
The Reserve Bank of India, in exercise of powers vested in it under the provisions of Section 47A (1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Jamnagar Peoples Co-operative Bank Ltd., Jamnagar. The penalty was imposed for violation of the Reserve Bank instructions in respect of reporting of cash transactions above `10.00 lakh to FIU-IND, New Delhi. The Reserve Bank had
માર્ચ 29, 2011
The Sathamba People's Co-operative Bank Ltd., Sathamba, District Sabarkantha - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Sathamba People's Co-operative Bank Ltd., Sathamba, District Sabarkantha, Gujarat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on implementation of Know Your Customers (KYC)/Anti-Money Laundering (AML) guidelines and
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Sathamba People's Co-operative Bank Ltd., Sathamba, District Sabarkantha, Gujarat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on implementation of Know Your Customers (KYC)/Anti-Money Laundering (AML) guidelines and
માર્ચ 28, 2011
Shree Limbdi Nagrik Sahakari Bank Limited, Limbdi, Dist. Surendranagar - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Shree Limbdi Nagrik Sahakari Bank Limited, Limbdi, Dist. Surendranagar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for certain violations viz. non-implementation of Know Your Customer (KYC) norms, non-submission of Cash Transaction Report (CTR)/Suspicious Transa
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Shree Limbdi Nagrik Sahakari Bank Limited, Limbdi, Dist. Surendranagar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for certain violations viz. non-implementation of Know Your Customer (KYC) norms, non-submission of Cash Transaction Report (CTR)/Suspicious Transa
માર્ચ 28, 2011
Nagrik Sahakari Bank Limited, Babra, Dist. Amreli - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Nagrik Sahakari Bank Limited, Babra, Dist. Amreli, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions in respect of reporting of cash transaction above ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), New
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Nagrik Sahakari Bank Limited, Babra, Dist. Amreli, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions in respect of reporting of cash transaction above ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), New
માર્ચ 28, 2011
The Patdi Nagrik Sahakari Bank Limited, Patdi, Dist. Surendranagar - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Patdi Nagrik Sahakari Bank Limited, Patdi, Dist. Surendranagar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for certain violations viz. non-adherence to Know Your Customer (KYC) norms/Anti-Money Laundering (AML) guidelines, not filing of Cash Transaction Repo
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Patdi Nagrik Sahakari Bank Limited, Patdi, Dist. Surendranagar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for certain violations viz. non-adherence to Know Your Customer (KYC) norms/Anti-Money Laundering (AML) guidelines, not filing of Cash Transaction Repo
માર્ચ 25, 2011
The Bhabhar Vibhag Nagrik Sahakari Bank Limited, Bhabhar, Dist. Banaskantha - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Bhabhar Vibhag Nagrik Sahakari Bank Limited, Bhabhar, Dist. Banaskantha, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions on maintenance of records of cash transactions over ` 10.00 lakh and reporting the same
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Bhabhar Vibhag Nagrik Sahakari Bank Limited, Bhabhar, Dist. Banaskantha, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions on maintenance of records of cash transactions over ` 10.00 lakh and reporting the same
માર્ચ 23, 2011
The Uttarsanda People Co-operative Bank Limited, Uttarsanda, Dist. Kheda - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Uttarsands People Co-operative Bank Limited, Uttarsanda, Dist. Kheda, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's guidelines of requirement of reporting of cash transactions in excess of ` 10.00 lakh to Financial Intel
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Uttarsands People Co-operative Bank Limited, Uttarsanda, Dist. Kheda, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's guidelines of requirement of reporting of cash transactions in excess of ` 10.00 lakh to Financial Intel
માર્ચ 17, 2011
Saptagiri Gramin Bank, Chittoor - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Saptagiri Gramin Bank, Chittoor, in exercise of powers vested in it under the provisions of Section 46 read with Section 47 A of the Banking Regulation Act, 1949 for violation of Reserve Bank of India's directives on Know Your Customer Guidelines. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank submitted a written reply
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Saptagiri Gramin Bank, Chittoor, in exercise of powers vested in it under the provisions of Section 46 read with Section 47 A of the Banking Regulation Act, 1949 for violation of Reserve Bank of India's directives on Know Your Customer Guidelines. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank submitted a written reply
માર્ચ 14, 2011
The Jai Bhavani Sahakari Bank Limited, Pune - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Jai Bhavani Sahakari Bank Limited, Pune, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directive on Directors related loans. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank subm
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Jai Bhavani Sahakari Bank Limited, Pune, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directive on Directors related loans. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank subm
માર્ચ 08, 2011
The Muslim Co-operative Bank Ltd., Pune, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Muslim Co-operative Bank Ltd., Pune, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India. The bank had violated the RBI instructions by making donations over and above the prescribed limit of 1
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Muslim Co-operative Bank Ltd., Pune, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India. The bank had violated the RBI instructions by making donations over and above the prescribed limit of 1
માર્ચ 04, 2011
Madheshwari Urban Development Co-operative Bank Ltd., Madha, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Madheshwari Urban Development Co-operative Bank Ltd., Madha, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directive on : (a) sanctioning unsecured advances (salary loans) beyond the prescribed ceiling of `1.00 lakh (b) i
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Madheshwari Urban Development Co-operative Bank Ltd., Madha, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directive on : (a) sanctioning unsecured advances (salary loans) beyond the prescribed ceiling of `1.00 lakh (b) i
માર્ચ 04, 2011
Sulaimani Co-operative Bank Limited, Vadodara, Dist. Vadodara - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Sulaimani Co-operative Bank Limited, Vadodara, Dist. Vadodara, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not adhering to operational instructions specifically issued to the bank by RBI, other instructions on ceiling on inter-bank deposits, inspection compliance and
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Sulaimani Co-operative Bank Limited, Vadodara, Dist. Vadodara, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not adhering to operational instructions specifically issued to the bank by RBI, other instructions on ceiling on inter-bank deposits, inspection compliance and
માર્ચ 01, 2011
Shri Lodra Nagarik Sahakari Bank Ltd., Lodra, District Gandhinagar - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Shri Lodra Nagarik Sahakari Bank Ltd., Lodra, District Gandhinagar, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of RBI instructions on implementation of Know Your Customers (KYC) norms and filing of Cash Transaction Report (CTR) with Financial Intelligence U
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Shri Lodra Nagarik Sahakari Bank Ltd., Lodra, District Gandhinagar, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of RBI instructions on implementation of Know Your Customers (KYC) norms and filing of Cash Transaction Report (CTR) with Financial Intelligence U
ફેબ્રુ 28, 2011
The Junagadh Commercial Co-operative Bank Ltd., Junagadh - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Junagadh Commercial Co-operative Bank Ltd., Junagadh in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Know Your Costomers (KYC) norms and Anti-Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice to the bank, in respo
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Junagadh Commercial Co-operative Bank Ltd., Junagadh in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Know Your Costomers (KYC) norms and Anti-Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice to the bank, in respo
ફેબ્રુ 22, 2011
The Jamnagar Mahila Sahakari Bank Ltd., Jamnagar - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Jamnagar Mahila Sahakari Bank Ltd., Jamnagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of RBI instructions on Anti-Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank su
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Jamnagar Mahila Sahakari Bank Ltd., Jamnagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of RBI instructions on Anti-Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank su
ફેબ્રુ 22, 2011
Amreli Nagarik Sahkari Bank Ltd., Amreli - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Amreli Nagarik Sahkari Bank Ltd., Amreli in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of provisions of Section 5(ccv) of B.R.Act, 1949 (AACS) and RBI instructions on Anti-Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause not
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Amreli Nagarik Sahkari Bank Ltd., Amreli in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of provisions of Section 5(ccv) of B.R.Act, 1949 (AACS) and RBI instructions on Anti-Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause not
ફેબ્રુ 22, 2011
Shri Mahila Sewa Sahakari Bank Ltd., Ahmedabad (Gujarat) - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Shri Mahila Sewa Sahakari Bank Ltd., Ahmedabad (Gujarat) in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on grant of unsecured advances in excess of the prescribed ceiling. The Reserve Bank of India had issued a show cause n
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Shri Mahila Sewa Sahakari Bank Ltd., Ahmedabad (Gujarat) in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on grant of unsecured advances in excess of the prescribed ceiling. The Reserve Bank of India had issued a show cause n
ફેબ્રુ 22, 2011
The Viramgam Mercantile Co-operative Bank Ltd., Viramgam, Dist. Ahmedabad - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Viramgam Mercantile Co-operative Bank Ltd., Viramgam, Dist. Ahmedabad in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of non-filing of Cash Transaction Report (CTR)/Suspicious Transaction Report (STR) to Financial Intelligence Unit-India (FIU-IND), New Delhi
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Viramgam Mercantile Co-operative Bank Ltd., Viramgam, Dist. Ahmedabad in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of non-filing of Cash Transaction Report (CTR)/Suspicious Transaction Report (STR) to Financial Intelligence Unit-India (FIU-IND), New Delhi
ફેબ્રુ 21, 2011
The Surat Mercantile Co-operative Bank Ltd., Surat, Dist. Surat - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Surat Mercantile Co-operative Bank Ltd., Surat, Dist. Surat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on disposal of non-banking assets, donations and purchasing of cheques beyond the ceiling of ` 0.20 lakh per in
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Surat Mercantile Co-operative Bank Ltd., Surat, Dist. Surat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on disposal of non-banking assets, donations and purchasing of cheques beyond the ceiling of ` 0.20 lakh per in
ફેબ્રુ 21, 2011
Urban Co-operative Bank Ltd., Cuttack - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Urban Co-operative Bank Ltd., Cuttack in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions relating to opening of the four collection counters without prior approval of Reserve Bank of India. The Reserve Bank of India had issued
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Urban Co-operative Bank Ltd., Cuttack in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions relating to opening of the four collection counters without prior approval of Reserve Bank of India. The Reserve Bank of India had issued
ફેબ્રુ 04, 2011
The Ghoghamba Vibhag Nagrik Sahakari Bank Ltd., Ghoghamba, Dist. Panchmahal- Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Ghoghamba Vibhag Nagrik Sahakari Bank Ltd., Ghoghamba, Dist. Panchmahal in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on persistence of irregularities of previous inspection report and requirement of reporting of cash
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Ghoghamba Vibhag Nagrik Sahakari Bank Ltd., Ghoghamba, Dist. Panchmahal in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on persistence of irregularities of previous inspection report and requirement of reporting of cash
ફેબ્રુ 04, 2011
The Janata Co-op. Bank Ltd., Godhra, Dist. Panchmahal - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Janata Co-op. Bank Ltd., Godhra, Dist. Panchmahal in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on persistence of irregularities of previous inspection report and requirement of reporting of cash transactions in excess
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Janata Co-op. Bank Ltd., Godhra, Dist. Panchmahal in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on persistence of irregularities of previous inspection report and requirement of reporting of cash transactions in excess
જાન્યુ 21, 2011
The Makarpura Industrial Co-operative Bank Ltd., Vadodara - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on The Makarpura Industrial Co-operative Bank Ltd., Vadodara in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/guidelines on advances to directors and their relatives, single borrower exposure ceiling, the donation ceiling of 1%,
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on The Makarpura Industrial Co-operative Bank Ltd., Vadodara in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/guidelines on advances to directors and their relatives, single borrower exposure ceiling, the donation ceiling of 1%,
જાન્યુ 19, 2011
RBI Measures to extend Credit Support to Micro Finance Institutions
The Reserve Bank of India has today advised certain relaxation to banks in its present restructuring guidelines in order to enable them to extend credit support to micro finance institutions (MFIs). The relaxation is purely a temporary measure and would be applicable to bank loans to MFIs restructured by banks up to March 31, 2011, the Reserve Bank has stated. Relaxation considered The Reserve Bank has asked banks to extend the regulatory asset classification benefit
The Reserve Bank of India has today advised certain relaxation to banks in its present restructuring guidelines in order to enable them to extend credit support to micro finance institutions (MFIs). The relaxation is purely a temporary measure and would be applicable to bank loans to MFIs restructured by banks up to March 31, 2011, the Reserve Bank has stated. Relaxation considered The Reserve Bank has asked banks to extend the regulatory asset classification benefit
ડિસે 31, 2010
Bombay Mercantile Co-operative Bank Ltd., Mumbai, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India. The bank had violated the group exposure norms prescribed by RBI on June 21, 2005 by sanctioni
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India. The bank had violated the group exposure norms prescribed by RBI on June 21, 2005 by sanctioni
ડિસે 24, 2010
Rupee Co-operative Bank Ltd., Pune, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on Rupee Co-operative Bank Ltd., Pune, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India.The bank had violated RBI directives by purchasing/discounting cheques beyond the ceiling of ` 0.25 lakh in c
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on Rupee Co-operative Bank Ltd., Pune, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India.The bank had violated RBI directives by purchasing/discounting cheques beyond the ceiling of ` 0.25 lakh in c
ડિસે 23, 2010
Reserve Bank Cancels the Licence of The Golaghat Urban Co-operative Bank Ltd., Golaghat (Assam)
In view of the fact that the Golaghat Urban Co-operative Bank Ltd., Golaghat (Assam), had ceased to be solvent, all efforts to revive it 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 December 16, 2010. The Registrar of Co-operative Societies, Government of Assam have also been requested to issue an order for winding up the
In view of the fact that the Golaghat Urban Co-operative Bank Ltd., Golaghat (Assam), had ceased to be solvent, all efforts to revive it 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 December 16, 2010. The Registrar of Co-operative Societies, Government of Assam have also been requested to issue an order for winding up the
ડિસે 23, 2010
Arjun Urban Co-operative Bank Ltd., Solapur, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees One lakh only) on Arjun Urban Co-operative Bank Ltd., Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directives on exposure limit, unsecured loans and director related loans. The Reserve Bank of India had issued a show cause notice
The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees One lakh only) on Arjun Urban Co-operative Bank Ltd., Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directives on exposure limit, unsecured loans and director related loans. The Reserve Bank of India had issued a show cause notice
ડિસે 10, 2010
Sampada Sahakari Bank Ltd., Pune, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 50000.00 (Rupees Fifty thousand only) on Sampada Sahakari Bank Ltd., Pune, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of Reserve Bank of India's directive under section 41 of RBI Act, 1934 and section 18, 19, 20, 23, 24, 26, 27, 29 and 31 of Banking Regulation Act, 1949 (AACS) read with
The Reserve Bank of India has imposed a monetary penalty of ` 50000.00 (Rupees Fifty thousand only) on Sampada Sahakari Bank Ltd., Pune, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of Reserve Bank of India's directive under section 41 of RBI Act, 1934 and section 18, 19, 20, 23, 24, 26, 27, 29 and 31 of Banking Regulation Act, 1949 (AACS) read with
નવે 29, 2010
RBI cautions Public about Unauthorised Companies collecting Deposits
The Reserve Bank of India has today cautioned members of public about unauthorised companies which collect money from public stating that they have been authorised by the Reserve Bank to do so. The Reserve Bank stated that it has published on its website (/en/web/rbi/regulations-non-banking/other-links/list-of-nbfcs) a list of non-banking finance companies (NBFCs) which are permitted to accept deposits. No NBFC outside of this list can accept deposits from public. Doi
The Reserve Bank of India has today cautioned members of public about unauthorised companies which collect money from public stating that they have been authorised by the Reserve Bank to do so. The Reserve Bank stated that it has published on its website (/en/web/rbi/regulations-non-banking/other-links/list-of-nbfcs) a list of non-banking finance companies (NBFCs) which are permitted to accept deposits. No NBFC outside of this list can accept deposits from public. Doi
નવે 25, 2010
The Bantra Co-operative Bank Ltd., Howrah - Penalised
The Reserve Bank of India has imposed a penalty of ` 2.00 lakh (Rupees Two Lakh only) on The Bantra Co-operative Bank Ltd., Howrah in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for allowing withdrawals in Current and Savings Bank accounts in excess of
The Reserve Bank of India has imposed a penalty of ` 2.00 lakh (Rupees Two Lakh only) on The Bantra Co-operative Bank Ltd., Howrah in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for allowing withdrawals in Current and Savings Bank accounts in excess of
નવે 22, 2010
RBI cancels the Licence of The Boriavi People's Co-operative Bank Ltd., Boriavi, (Gujarat)
The Reserve Bank of India has cancelled the licence of the Boriavi People's Co-operative Bank Ltd., Boriavi, Gujarat. The order of cancellation of the licence was given after the close of business on November 19, 2010. The Reserve Bank has also requested the Registrar of Co-operative Societies, Gujarat to issue an order for winding up the bank and appoint a liquidator. Consequent to the cancellation of its licence, The Boriavi People's Co-operative Bank Ltd., Boriavi,
The Reserve Bank of India has cancelled the licence of the Boriavi People's Co-operative Bank Ltd., Boriavi, Gujarat. The order of cancellation of the licence was given after the close of business on November 19, 2010. The Reserve Bank has also requested the Registrar of Co-operative Societies, Gujarat to issue an order for winding up the bank and appoint a liquidator. Consequent to the cancellation of its licence, The Boriavi People's Co-operative Bank Ltd., Boriavi,
નવે 22, 2010
Kasundia Co-operative Bank Ltd., Howrah - Penalised
The Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Kasundia Co-operative Bank Ltd., Howrah in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for resorting to borrowings without prior approval from Reserve Bank of Indi
The Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Kasundia Co-operative Bank Ltd., Howrah in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for resorting to borrowings without prior approval from Reserve Bank of Indi
નવે 16, 2010
Cosmos Co-operative Bank Ltd., Pune, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five Lakh only) on Cosmos Co-operative Bank Ltd., Pune, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies), for violation of instructions/guidelines of the Reserve Bank of India. The bank had violated Reserve Bank of India directives by sanctioning
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five Lakh only) on Cosmos Co-operative Bank Ltd., Pune, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies), for violation of instructions/guidelines of the Reserve Bank of India. The bank had violated Reserve Bank of India directives by sanctioning
ઑક્ટો 07, 2010
RBI sets up Committee on Licensing of Urban Co-operative Banks
The Reserve Bank of India has constituted an Expert Committee under the Chairmanship of Shri Y.H. Malegam for studying the advisability of granting new urban co-operative banking licences under Section 22 of the Banking Regulation Act, 1949 [As Applicable to Co-operative Societies (AACS)] The terms of reference of the Committee are as under : To review the role and performance of UCBs over the last decade and especially since the adoption of VISION document in 2004, T
The Reserve Bank of India has constituted an Expert Committee under the Chairmanship of Shri Y.H. Malegam for studying the advisability of granting new urban co-operative banking licences under Section 22 of the Banking Regulation Act, 1949 [As Applicable to Co-operative Societies (AACS)] The terms of reference of the Committee are as under : To review the role and performance of UCBs over the last decade and especially since the adoption of VISION document in 2004, T
ઑક્ટો 06, 2010
Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur, Maharashtra - Penalised
The Reserve Bank of India has imposed a penalty of ` 5.00 lakh (Rupees Five Lakh only) on Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the Reserve Bank of India's instructions on investment in government securities and violation of supervisory action imposed on the bank vide its letter dated
The Reserve Bank of India has imposed a penalty of ` 5.00 lakh (Rupees Five Lakh only) on Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the Reserve Bank of India's instructions on investment in government securities and violation of supervisory action imposed on the bank vide its letter dated
ઑક્ટો 04, 2010
Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra - Penalised
The Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provision of Section 35(2) of the Act, ibid. The Reserve Bank of India had issued a show cause notice to the bank in response to which the bank had submitted writte
The Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provision of Section 35(2) of the Act, ibid. The Reserve Bank of India had issued a show cause notice to the bank in response to which the bank had submitted writte
સપ્ટે 06, 2010
Reserve Bank Cancels the Licence of Anyonya Co-operative Bank Ltd., Vadodra (Gujarat)
In view of the fact that Anyonya Co-operative Bank Ltd. Vadodra, 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 September 03, 2010. The Registrar of Co-operative Societies, Gujarat has also been requested to issue
In view of the fact that Anyonya Co-operative Bank Ltd. Vadodra, 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 September 03, 2010. The Registrar of Co-operative Societies, Gujarat has also been requested to issue
ઑગસ્ટ 11, 2010
Brahmadeodada Mane Sahakari Bank Ltd., Solapur - Penalised
The Reserve Bank of India has imposed a penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Brahmadeodada Mane Sahakari Bank Ltd., Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) for violation of the guidelines for granting unsecured credit facilities, allowing remission of debt in various borrowal accounts, waiving b
The Reserve Bank of India has imposed a penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Brahmadeodada Mane Sahakari Bank Ltd., Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) for violation of the guidelines for granting unsecured credit facilities, allowing remission of debt in various borrowal accounts, waiving b
ઑગસ્ટ 05, 2010
Reserve Bank Cancels the Licence of the Belgaum Catholic Co-operative Bank Ltd., Belgaum, Karnataka
In view of the fact that the Belgaum Catholic Co-operative Bank Ltd., Belgaum (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 August 03, 2010. The Registrar of Co-operative Societies, Karnataka has
In view of the fact that the Belgaum Catholic Co-operative Bank Ltd., Belgaum (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 August 03, 2010. The Registrar of Co-operative Societies, Karnataka has
ઑગસ્ટ 02, 2010
RBI releases Discussion Paper on Engagement of 'for-profit' Companies as Business Correspondents (BCs)
The Reserve Bank of India today released on its website, a Discussion Paper on "Engagement of 'for profit' Companies as Business Correspondents (BCs)" to seek the views/comments of banks, non-banking financial institutions, ‘for-profit’ companies, regulators, academicians, NGOs and the public at large. Comments/feedback on the Discussion Paper may please be sent by August 20, 2010 to the Chief General Manager, Reserve Bank of India, Department of Banking Operations an
The Reserve Bank of India today released on its website, a Discussion Paper on "Engagement of 'for profit' Companies as Business Correspondents (BCs)" to seek the views/comments of banks, non-banking financial institutions, ‘for-profit’ companies, regulators, academicians, NGOs and the public at large. Comments/feedback on the Discussion Paper may please be sent by August 20, 2010 to the Chief General Manager, Reserve Bank of India, Department of Banking Operations an
જુલાઈ 30, 2010
Standard Chartered Bank - Penalised
The Reserve Bank of India has imposed a penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Standard Chartered Bank in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949. The penalty has been imposed for not furnishing within the stipulated time information pertaining to a foreign currency loan facility arranged by Standard Chartered Bank to an offshore, special purpose vehicle (SPV),
The Reserve Bank of India has imposed a penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Standard Chartered Bank in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949. The penalty has been imposed for not furnishing within the stipulated time information pertaining to a foreign currency loan facility arranged by Standard Chartered Bank to an offshore, special purpose vehicle (SPV),
જુલાઈ 29, 2010
Bhandari Co-operative Bank Ltd., Dadar, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Bhandari Co-operative Bank Ltd., Dadar, Maharashtra in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of the Reserve Bank of India's directives. The Bank had : sanctioned unsecured advances beyond the ceiling of Rs.50,000/- presc
The Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Bhandari Co-operative Bank Ltd., Dadar, Maharashtra in exercise of powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of the Reserve Bank of India's directives. The Bank had : sanctioned unsecured advances beyond the ceiling of Rs.50,000/- presc
રિઝર્વ બેંક ઑફ ઇન્ડિયા મોબાઇલ એપ્લિકેશન ઇન્સ્ટૉલ કરો અને લેટેસ્ટ ન્યૂઝનો ઝડપી ઍક્સેસ મેળવો!
પેજની છેલ્લી અપડેટની તારીખ: નવેમ્બર 21, 2024
