The Reserve Bank of India (RBI), in exercise of its powers under Section 36AAA read with Section 56 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies), had superseded the Board of Directors of Abhyudaya Cooperative Bank Ltd., Mumbai, for 12 months on November 24, 2023, due to material concerns arising from poor governance standards observed within the bank.

The Reserve Bank of India (RBI) has, by an order dated November 12, 2024, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on M.S. Co-operative Bank Ltd., Vadodara, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Interest Rate on Deposits’ and ‘Know Your Customer (KYC)’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India (RBI) has, by an order dated November 12, 2024, imposed a monetary penalty of ₹1.50 lakh (Rupees One Lakh Fifty Thousand only) on The Vepar Udhyog Vikas Sahakari Bank Limited, Dist. Dahod, Gujarat (the bank) for non-compliance with certain directions issued by RBI on ‘Maintenance of Cash Reserve Ratio (CRR)’ and ‘Know Your Customer (KYC) norms’. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

The Reserve Bank of India had issued Directions to Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Ltd., Nashik, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive No. DCBS.CO.BSD-I/D-7/12.22.395/2017-18 dated May 18, 2018 for a period of six months up to the close of business on November 18, 2018, which were last extended up to the close of business on November 17, 2024 vide Directive DOR.MON. D-42/12.22.395/2024-25 dated August 14, 2024.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru, Karnataka vide Directive DOS.CO.UCB.BSD-III.D-2/12.23.283/2019-20 dated January 02, 2020, for a period of six months up to July 10, 2020, as modified from time to time, which were last extended up to the close of business on November 10, 2024 vide Directive DOR.MON/D-39/12.23.283/2024-25 dated August 08, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond November 10, 2024.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Durga Co-operative Urban Bank Ltd., Vijayawada vide Directive No. HYD.DOS.INSP4.No.S241/15-36-070/2022-2023 dated July 28, 2022 for a period of six months up to January 29, 2023 as modified from time to time, which were last extended up to close of business on October 29, 2024 vide Directive DOR.MON/D-35/12.24.020/2024-25 dated July 19, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond October 29, 2024

The Reserve Bank of India had issued Directions to The Anjangaon Surji Nagari Sahakari Bank Ltd., Amravati, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive No. CO.DOS.SED.No.S2698/12-07-005/2022-2023 dated July 27, 2022, for a period of six months up to the close of business on January 28, 2023, which were last extended up to the close of business on October 28, 2024 vide Directive DOR.MON.D-37/12.22.603/2024-25 dated July 22, 2024.

The Reserve Bank of India had issued Directions to The Karmala Urban Co-operative Bank Ltd., Solapur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive No. CO.DOS.SED.No.S2729/12-07-005/2022-2023 dated July 29, 2022 for a period of six months up to the close of business on January 29, 2023, which were last extended up to the close of business on October 29, 2024 vide Directive DOR.MON.D-38/12.22.130/2024-25 dated July 23, 2024.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949, to Indian Mercantile Co-operative Bank Limited (IMCBL), Lucknow vide Directive DOS.CO.OCCD.185569/12.28.007/2021-22 dated January 28, 2022 for a period of six months upto July 27, 2022, as modified from time to time, which were last extended upto October 27, 2024 vide Directive DOR.MON/D-36/12.28.007/2024-25 dated July 19, 2024. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond October 27, 2024.

The Reserve Bank of India, vide directive No.CO.DOS. SED. No. S592/45-11-001/2024-25 dated April 23, 2024, had placed The Konark Urban Co-operative Bank Ltd., Ulhasnagar under Directions from the close of business on April 23, 2024 for a period of six months. 2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank till close of business on January 23, 2025 as per the directive DOR.MON/D-62/12.22.805/2024-25 dated October 17, 2024, subject to review.