The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The National Co-operative Bank Ltd., Bangalore vide Directive No. BLR.DOS.SSMS.No.S836/09-01-112/2023-2024 dated July 24, 2023, for a period of six months up to close of business on January 24, 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 close of business on January 24, 2024.

The Reserve Bank of India issued Directions to Saibaba Janata Sahakari Bank Limited, Latur, Maharashtra under Section 35A read with Section 56 of the Banking Regulation Act, 1949 vide Directive CO.DOS.SED.No.S2598/12-07-005/2022-2023 dated July 21, 2022, for a period of six months up to the close of business on January 22, 2023, as modified from time to time, which was last extended up to the close of business on January 22, 2024 vide Directive DOR.MON.D-79/12.22.705/2023-24 dated October 18, 2023.

The Reserve Bank of India, vide directive DCBS.CO.BSD-I/D-5/12.22.039/2017-18 dated April 17, 2018, had placed The City Co-operative Bank Ltd, Mumbai under Directions from the close of business on April 17, 2018. The validity of the directions was extended from time-to-time, the last being up to close of business on January 16, 2024.

The Reserve Bank of India (RBI), vide order dated January 12, 2024, has cancelled the license of “Shree Mahalaxmi Mercantile Co-operative Bank Ltd., Dabhoi”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on January 12, 2024. Registrar of Cooperative Societies, Gujarat has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

The Reserve Bank of India (RBI), vide order dated January 12, 2024, has cancelled the licence of “The Hiriyur Urban Co-operative Bank Ltd., Hiriyur”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on January 12, 2024. The Registrar of Cooperative Societies, Karnataka has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

The Reserve Bank of India, vide directive DEL.DOS.EXG_SSM No. S515/12-10- 013/2022-23 dated July 07, 2022, had placed Ramgarhia Co-operative Bank Ltd, New Delhi – under Directions from the close of business on July 08, 2022, for a period of six months up to January 08, 2023, the validity of which was last extended up to January 08, 2024 vide directive DOR.MON.D-75/12.28.115/2023-24 dated October 06, 2023.

The Reserve Bank of India, vide directive CO.DOS.DSD.No.S2322/12-07-005/2022-23 dated July 07, 2022, had placed Sangli Sahakari Bank Limited, Mumbai, Maharashtra under Directions from the close of business on July 08, 2022, for a period of six months. The validity of the directions was extended from time-to-time, the last being up to January 08, 2024.

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹16,000 Crore (Face Value).

The Reserve Bank of India (RBI), vide order dated December 29, 2023, has cancelled the licence of “Musiri Urban Co-operative Bank Ltd., Musiri”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on December 29, 2023. The Registrar of Cooperative Societies, Tamil Nadu has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

The Reserve Bank of India (RBI), vide order dated December 29, 2023, has cancelled the licence of Adarsh Mahila Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on December 29, 2023. The Commissioner and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.