Press Releases - Regulating Co-operative Banking - आरबीआय - Reserve Bank of India
प्रेस रिलीज
जून 10, 2003
RBI rejects licence application of The Sibsagar District Central Co-operative Bank Ltd., Assam
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Sibsagar District Central Co-operative Bank Ltd., Assam to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies). As such, it will not be in order for the above bank, among other things, to accept deposits from public and
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Sibsagar District Central Co-operative Bank Ltd., Assam to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies). As such, it will not be in order for the above bank, among other things, to accept deposits from public and
जून 04, 2003
RBI cancels licence of the Sri Mouneshwar Cooperative Bank Ltd., Gulbarga, Karnataka
The Reserve Bank of India has cancelled the licence of Sri Mouneshwar Cooperative Bank Ltd., Gulbarga, Karnataka to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise. The Reserve Bank has cancell
The Reserve Bank of India has cancelled the licence of Sri Mouneshwar Cooperative Bank Ltd., Gulbarga, Karnataka to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise. The Reserve Bank has cancell
मे 30, 2003
NABARD to service its SLR Bonds issued upto October 1994 from July 1
The National Bank for Agriculture and Rural Development (NABARD) will, from July 1, 2003, take over the servicing of its Bonds issued upto October 1994. The service would include payment of interest and redemption proceeds, as also other services, such as, splitting/consolidation of bonds, etc. Accordingly, the servicing of these bonds by the Reserve Bank of India's public debt offices (PDOs) would be discontinued with effect from close of business on June 30, 2003. C
The National Bank for Agriculture and Rural Development (NABARD) will, from July 1, 2003, take over the servicing of its Bonds issued upto October 1994. The service would include payment of interest and redemption proceeds, as also other services, such as, splitting/consolidation of bonds, etc. Accordingly, the servicing of these bonds by the Reserve Bank of India's public debt offices (PDOs) would be discontinued with effect from close of business on June 30, 2003. C
मे 23, 2003
RBI rejects licence application of Madhepura-Supaul Central Co-operative Bank Ltd.
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Madhepura-Supaul Central Co-operative Bank Ltd., Bihar to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies). As such, it will not be in order for the above bank, among other things, to accept deposits from public and a
The Reserve Bank of India under Section 22 of the Banking Regulation Act, 1949 has rejected the licence application of the Madhepura-Supaul Central Co-operative Bank Ltd., Bihar to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies). As such, it will not be in order for the above bank, among other things, to accept deposits from public and a
मे 23, 2003
RBI Cancels licence of Astha Corporation Private Limited, Hyderabad as 'surrendered'
The Reserve Bank of India has cancelled as surrendered on May 21, 2003 the licence of Astha Corporation Private Limited, B-1, Industrial Estate, Sanathnagar, Hyderabad-500 018 to carry on the business of a non-banking financial institution. The company has also been prohibited from acceptance of deposit from public under Section 45 MB (1) and prohibited from alienation of assets under Section 45 MB (2) of the Reserve Bank of India Act, 1934. The Reserve Bank has cance
The Reserve Bank of India has cancelled as surrendered on May 21, 2003 the licence of Astha Corporation Private Limited, B-1, Industrial Estate, Sanathnagar, Hyderabad-500 018 to carry on the business of a non-banking financial institution. The company has also been prohibited from acceptance of deposit from public under Section 45 MB (1) and prohibited from alienation of assets under Section 45 MB (2) of the Reserve Bank of India Act, 1934. The Reserve Bank has cance
एप्रि 24, 2003
RBI cancels licence of the Dhana Cooperative Urban Bank Ltd., Eluru, Andhra Pradesh
The Reserve Bank of India has cancelled the licence of The Dhana Cooperative Urban Bank Ltd., Eluru, Andhra Pradesh to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise. The Reserve Bank has canc
The Reserve Bank of India has cancelled the licence of The Dhana Cooperative Urban Bank Ltd., Eluru, Andhra Pradesh to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise. The Reserve Bank has canc
मार्च 07, 2003
RBI cancels licence of the Pratibha Mahila Sahakari Bank Ltd.
The Reserve Bank of India has cancelled vide Order dated February 25, 2003 the licence granted to the Pratibha Mahila Sahakari Bank Ltd., Jalgaon, Dist. Jalgaon (Maharashtra) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by c
The Reserve Bank of India has cancelled vide Order dated February 25, 2003 the licence granted to the Pratibha Mahila Sahakari Bank Ltd., Jalgaon, Dist. Jalgaon (Maharashtra) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by c
फेब्रु 11, 2003
RBI cancels licence of Yeshwant Sahakari Bank Ltd.
The Reserve Bank of India has cancelled the licence of the Yeshwant Sahakari Bank Ltd., Mumbai, Maharashtra to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P. V. Sadanandan ManagerPre
The Reserve Bank of India has cancelled the licence of the Yeshwant Sahakari Bank Ltd., Mumbai, Maharashtra to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P. V. Sadanandan ManagerPre
जाने 31, 2003
Nedungadi Bank Ltd. branches to function as PNB branches from tomorrow
The branches of the Nedungadi Bank Ltd. will function as branches of Punjab National Bank from February 1, 2003. This is envisaged in the scheme of amalgamation sanctioned by the Central Government in its notification issued today. In terms of the Government notification, the depositors' interests are fully protected. As per the scheme of amalgamation, Punjab National Bank would take over the assets and liabilities of Nedungadi Bank Ltd. after first evaluating the ass
The branches of the Nedungadi Bank Ltd. will function as branches of Punjab National Bank from February 1, 2003. This is envisaged in the scheme of amalgamation sanctioned by the Central Government in its notification issued today. In terms of the Government notification, the depositors' interests are fully protected. As per the scheme of amalgamation, Punjab National Bank would take over the assets and liabilities of Nedungadi Bank Ltd. after first evaluating the ass
जाने 16, 2003
The Reserve Bank cancels licence of The Star Cooperative Urban Bank Ltd.
The Reserve Bank of India has cancelled the licence of The Star Cooperative Urban Bank Ltd., Dilsukhnagar, Hyderabad (Andhra Pradesh) to carry on banking business. The bank is precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P. V
The Reserve Bank of India has cancelled the licence of The Star Cooperative Urban Bank Ltd., Dilsukhnagar, Hyderabad (Andhra Pradesh) to carry on banking business. The bank is precluded from transacting the business of 'banking' as defined in the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P. V
डिसें 13, 2002
RBI cancels licence of the
Sevalal Urban Co-operative Urban Bank Ltd.
Sevalal Urban Co-operative Urban Bank Ltd.
The Reserve Bank of India has cancelled vide Order dated December 4, 2002 the licence granted to the Sevalal Urban Co-operative Bank Ltd., Mandrup, Dist. Solapur (Maharashtra) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by
The Reserve Bank of India has cancelled vide Order dated December 4, 2002 the licence granted to the Sevalal Urban Co-operative Bank Ltd., Mandrup, Dist. Solapur (Maharashtra) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by
डिसें 04, 2002
RBI rejects licence application of The Gulbarga Urban Co-operative Bank Ltd.
The Reserve Bank of India has rejected the licence application of The Gulbarga Urban Co-operative Bank Ltd., Gulbarga (Karnataka) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheques, draft, order or otherwise.P. V. Sadana
The Reserve Bank of India has rejected the licence application of The Gulbarga Urban Co-operative Bank Ltd., Gulbarga (Karnataka) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheques, draft, order or otherwise.P. V. Sadana
नोव्हें 21, 2002
RBI rejects licence application of The Pithapuram Co-operative Urban Bank Ltd.
The Reserve Bank of India has rejected the licence application of The Pithapuram Co-operative Urban Bank Ltd., Pithapuram (Andhra Pradesh) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheques, draft, order or otherwise.Aji
The Reserve Bank of India has rejected the licence application of The Pithapuram Co-operative Urban Bank Ltd., Pithapuram (Andhra Pradesh) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheques, draft, order or otherwise.Aji
नोव्हें 02, 2002
Nedungadi Bank under Moratorium
On an application of the Reserve Bank of India, the Central Government has today issued an Order of Moratorium in respect of the Nedungadi Bank Ltd. The Order of Moratorium has been passed by the Central government in the public interest, in the interest of depositors and the banking system. The moratorium will be from the close of business on November 2, 2002 upto and including February 1, 2003. During this period, the Reserve Bank of India will consider the various
On an application of the Reserve Bank of India, the Central Government has today issued an Order of Moratorium in respect of the Nedungadi Bank Ltd. The Order of Moratorium has been passed by the Central government in the public interest, in the interest of depositors and the banking system. The moratorium will be from the close of business on November 2, 2002 upto and including February 1, 2003. During this period, the Reserve Bank of India will consider the various
ऑक्टो 24, 2002
RBI cancels licence of Mother Theresa Hyderabad Co-operative Urban Bank Ltd.
The Reserve Bank of India has cancelled the licence of The Mother Theresa Hyderabad Co-operative Urban Bank Ltd., Narayanaguda, Andhra Pradesh to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or ot
The Reserve Bank of India has cancelled the licence of The Mother Theresa Hyderabad Co-operative Urban Bank Ltd., Narayanaguda, Andhra Pradesh to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or ot
ऑक्टो 01, 2002
RBI rejects licence application of Manamadurai Co-operative Urban Bank Ltd.
The Reserve Bank of India has rejected the licence application of the Manamadurai Co-operative Urban Bank Ltd., Manamadurai, Tamil Nadu to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheques, draft, order or otherwise.P.V. S
The Reserve Bank of India has rejected the licence application of the Manamadurai Co-operative Urban Bank Ltd., Manamadurai, Tamil Nadu to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheques, draft, order or otherwise.P.V. S
सप्टें 09, 2002
RBI cancels licence of Armoor co-operative Urban Bank Ltd.
The Reserve Bank of India has cancelled the licence of Armoor Co-operative Urban Bank Ltd., Armoor, Andhra Pradesh to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P.V. Sadanandan Mana
The Reserve Bank of India has cancelled the licence of Armoor Co-operative Urban Bank Ltd., Armoor, Andhra Pradesh to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P.V. Sadanandan Mana
ऑग 26, 2002
RBI cancels licence of The Maa Sharda Mahila Nagari Sahakari Bank Ltd.
The Reserve Bank of India has cancelled the licence of The Maa Sharda Mahila Nagari Sahakari Bank Ltd., Akola, Maharashtra to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P.V. Sadanan
The Reserve Bank of India has cancelled the licence of The Maa Sharda Mahila Nagari Sahakari Bank Ltd., Akola, Maharashtra to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P.V. Sadanan
ऑग 17, 2002
Banking Licence rejected
The Reserve Bank of India has rejected under Section 22 of the Banking Regulation Act, 1949 (AACS), the licence application of the District Central Co-op. Bank Ltd., Gonda, Uttar Pradesh to carry on banking business in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and all
The Reserve Bank of India has rejected under Section 22 of the Banking Regulation Act, 1949 (AACS), the licence application of the District Central Co-op. Bank Ltd., Gonda, Uttar Pradesh to carry on banking business in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and all
ऑग 14, 2002
RBI cancels licence of The Kalwa Belapur Sahakari Bank Ltd.
The Reserve Bank of India has cancelled the licence of The Kalwa Belapur Sahakari Bank Ltd., Navi Mumbai, Maharashtra to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.Ajit Prasad Manag
The Reserve Bank of India has cancelled the licence of The Kalwa Belapur Sahakari Bank Ltd., Navi Mumbai, Maharashtra to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.Ajit Prasad Manag
ऑग 10, 2002
RBI cancels licence of The Megacity Co-operative Urban Bank Ltd.
The Reserve Bank of India has cancelled the licence of The Megacity Co-operative Urban Bank Ltd., Hyderabad, Andhra Pradesh to carry on banking business in India. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P
The Reserve Bank of India has cancelled the licence of The Megacity Co-operative Urban Bank Ltd., Hyderabad, Andhra Pradesh to carry on banking business in India. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P
ऑग 07, 2002
RBI cancels licence of Shree Labh Co-operative Bank Ltd.
The Reserve Bank of India has cancelled the licence of Shree Labh Co-operative Bank Ltd., Mumbai, Maharashtra to carry on banking business in India. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P V Sadanandan M
The Reserve Bank of India has cancelled the licence of Shree Labh Co-operative Bank Ltd., Mumbai, Maharashtra to carry on banking business in India. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P V Sadanandan M
जुलै 11, 2002
RBI cancels licence of The Praja Co-operative Urban Bank Ltd.
The Reserve Bank of India has cancelled the licence granted to The Praja Co-operative Urban Bank Ltd., Secunderabad, Ranga Reddy Dist. (Andhra Pradesh) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or
The Reserve Bank of India has cancelled the licence granted to The Praja Co-operative Urban Bank Ltd., Secunderabad, Ranga Reddy Dist. (Andhra Pradesh) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or
जुलै 08, 2002
RBI rejects licence application of Rajampet Co-operative Town Bank Ltd.
The Reserve Bank of India has rejected the licence application of the Rajampet Co-operative Town Bank Ltd., Rajampet (Andhra Pradesh) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise.Ajit Pra
The Reserve Bank of India has rejected the licence application of the Rajampet Co-operative Town Bank Ltd., Rajampet (Andhra Pradesh) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise.Ajit Pra
जून 29, 2002
RBI cancels licence of Shri Adinath Sahakari Bank Ltd.
The Reserve Bank of India has cancelled the licence to granted Shri Adinath Sahakari Bank Ltd., Pune (Maharashtra) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise.P.V. Sadanandan ManagerPres
The Reserve Bank of India has cancelled the licence to granted Shri Adinath Sahakari Bank Ltd., Pune (Maharashtra) to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, order or otherwise.P.V. Sadanandan ManagerPres
जून 12, 2002
RBI reject licence application to the Janata Sahakari Bank Maryadit
The Reserve Bank of India has rejected the licence application of the Janata Sahakari Bank Maryadit, Dewas, Madhya Pradesh to carry on banking business in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) with effect from March 16, 2002 and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheque, draft,
The Reserve Bank of India has rejected the licence application of the Janata Sahakari Bank Maryadit, Dewas, Madhya Pradesh to carry on banking business in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) with effect from March 16, 2002 and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheque, draft,
मे 20, 2002
All RBI regulated Entities to hold G-Secs in Demat Form
The Reserve Bank of India, has been, over a period of time, encouraging holding of government securities in dematerialised form. At present 99% of the trading in government securities takes place through SGL accounts with RBI for which the Delivery versus Payment (DVP) system ensures simultaneous transfer of securities against funds. In the light of recent fraudulent transactions in the guise of Government securities transactions in physical format by a few co-operati
The Reserve Bank of India, has been, over a period of time, encouraging holding of government securities in dematerialised form. At present 99% of the trading in government securities takes place through SGL accounts with RBI for which the Delivery versus Payment (DVP) system ensures simultaneous transfer of securities against funds. In the light of recent fraudulent transactions in the guise of Government securities transactions in physical format by a few co-operati
मे 04, 2002
RBI Instructions to Cooperative Banks for G-Sec Transactions
In response to press queries, following a report in a section of the press, the Reserve Bank of India encloses its circular dated April 20, 2002 issued to cooperative banks reiterating its existing guidelines for transactions in Government securities. The full text of the circular is also available on the RBI website www.rbi.org.in Alpana Killawala General ManagerPress Release No. 2001-2002/1223
In response to press queries, following a report in a section of the press, the Reserve Bank of India encloses its circular dated April 20, 2002 issued to cooperative banks reiterating its existing guidelines for transactions in Government securities. The full text of the circular is also available on the RBI website www.rbi.org.in Alpana Killawala General ManagerPress Release No. 2001-2002/1223
एप्रि 20, 2002
Moratorium on The Benaras State Bank Ltd. extended
The Central Government on the recommendation of the Reserve Bank of India and in partial modification of the Government's earlier Notification dated January 22, 2002 extended the period of moratorium in respect of The Benaras State Bank Ltd., for a further period up to and inclusive of July 21, 2002. The notification has been issued on April 19, 2002. Ajit PrasadManagerPress Release : 2001-02/1174
The Central Government on the recommendation of the Reserve Bank of India and in partial modification of the Government's earlier Notification dated January 22, 2002 extended the period of moratorium in respect of The Benaras State Bank Ltd., for a further period up to and inclusive of July 21, 2002. The notification has been issued on April 19, 2002. Ajit PrasadManagerPress Release : 2001-02/1174
मार्च 07, 2002
Minimum Lending Rate of Co-operative Banks reduced to 12%
The Reserve Bank of India has decided to reduce the minimum lending rate of urban co-operative banks (UCBs) by one per cent - from 13 per cent to 12 per cent. The reduced rate has come into effect from March 2, 2002. Urban cooperative banks may, therefore, determine their lending rates subject to a minimum lending rate of 12 per cent per annum. The decision was taken in the wake of representations received from urban co-operative banks and their federations which had
The Reserve Bank of India has decided to reduce the minimum lending rate of urban co-operative banks (UCBs) by one per cent - from 13 per cent to 12 per cent. The reduced rate has come into effect from March 2, 2002. Urban cooperative banks may, therefore, determine their lending rates subject to a minimum lending rate of 12 per cent per annum. The decision was taken in the wake of representations received from urban co-operative banks and their federations which had
फेब्रु 20, 2002
RBI rejects licence application of Danesh Motor Finance Company Ltd.
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has cancelled on February 20, 2002 the certificate of Registration granted to Danesh Motor Finance Company Ltd., having its registered office at 1-F (FF), Vandana Building, 11-Tolstoy Marg, New Delhi-110 049. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has cancelled on February 20, 2002 the certificate of Registration granted to Danesh Motor Finance Company Ltd., having its registered office at 1-F (FF), Vandana Building, 11-Tolstoy Marg, New Delhi-110 049. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45
फेब्रु 14, 2002
RBI rejects licence application of Chapra District Central Co-operative Bank Ltd.
The Reserve Bank of India has rejected the licence application of the Chapra District Central Co-operative Bank Ltd., Bihar to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheques, draft, order or otherwise.Ajit Prasad Manage
The Reserve Bank of India has rejected the licence application of the Chapra District Central Co-operative Bank Ltd., Bihar to carry on banking business. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheques, draft, order or otherwise.Ajit Prasad Manage
फेब्रु 11, 2002
RBI rejects licence application of The Aryan Co-operative Urban Bank Ltd.
The Reserve Bank of India has rejected the licence application of The Aryan Co-operative Urban Bank Ltd., Hyderabad, (Andhra Pradesh) to carry on banking business in India. The bank is precluded from transacting the business of `banking' as defined under Section 22 of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, o
The Reserve Bank of India has rejected the licence application of The Aryan Co-operative Urban Bank Ltd., Hyderabad, (Andhra Pradesh) to carry on banking business in India. The bank is precluded from transacting the business of `banking' as defined under Section 22 of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawals by cheque, draft, o
जाने 17, 2002
Cancellation of Licence of Vinayak Local Area Bank Ltd., Sikar (Rajasthan)
The Reserve Bank of India in exercise of the powers vested in it under sub-section (4) of Section 22 of the Banking Regulation Act, 1949, has cancelled the licence issued to Vinayak Local Area Bank Ltd., Sikar (Rajasthan) to carry on banking business in the districts of Jhunjhunu, Sikar and Churu in the State of Rajasthan. Having been satisfied that the banks affairs are being conducted in a manner detrimental to the interest of the depositors and the general characte
The Reserve Bank of India in exercise of the powers vested in it under sub-section (4) of Section 22 of the Banking Regulation Act, 1949, has cancelled the licence issued to Vinayak Local Area Bank Ltd., Sikar (Rajasthan) to carry on banking business in the districts of Jhunjhunu, Sikar and Churu in the State of Rajasthan. Having been satisfied that the banks affairs are being conducted in a manner detrimental to the interest of the depositors and the general characte
डिसें 21, 2001
Licence of Urban Co-operative Bank Ltd. Allahabad, Uttar Pradesh cancelled
The Reserve Bank of India has cancelled the licence of The Urban Co-operative Bank Ltd., Allahabad, Uttar Pradesh to carry on banking business in India. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheque, draft, order or otherwise.P.V. Sadanandan Asst
The Reserve Bank of India has cancelled the licence of The Urban Co-operative Bank Ltd., Allahabad, Uttar Pradesh to carry on banking business in India. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheque, draft, order or otherwise.P.V. Sadanandan Asst
ऑक्टो 31, 2001
Western Co-operative Bank Ltd., Mumbai Licence Cancelled
The Reserve Bank of India has cancelled the licence of the Western Co-operative Bank Ltd., Mumbai, Maharashtra to carry on banking business in India. The bank is, therefore, precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P.V
The Reserve Bank of India has cancelled the licence of the Western Co-operative Bank Ltd., Mumbai, Maharashtra to carry on banking business in India. The bank is, therefore, precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P.V
ऑक्टो 13, 2001
RBI increases withdrawal limits for depositors of Benares State Bank Limited
The Reserve Bank of India has today partially modified its directive on Benares State Bank Limited. The modified directive now permits depositors to withdraw up to Rs. 2500 from savings bank or current account or any other deposit account. Depositors who have already withdrawn Rs. 1000 under the earlier directive will now be permitted to withdraw an additional Rs. 1500. It may be recalled that the Reserve Bank had, on September 25, 2001, issued a directive under Secti
The Reserve Bank of India has today partially modified its directive on Benares State Bank Limited. The modified directive now permits depositors to withdraw up to Rs. 2500 from savings bank or current account or any other deposit account. Depositors who have already withdrawn Rs. 1000 under the earlier directive will now be permitted to withdraw an additional Rs. 1500. It may be recalled that the Reserve Bank had, on September 25, 2001, issued a directive under Secti
ऑक्टो 05, 2001
RBI cancels licence of Sitara Co-operative Urban Bank Ltd.
The Reserve Bank of India has cancelled the licence of Sitara Co-operative Urban Bank Ltd., Baghlingampally, Hyderabad (Andhra Pradesh) to carry on banking business. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.N. L
The Reserve Bank of India has cancelled the licence of Sitara Co-operative Urban Bank Ltd., Baghlingampally, Hyderabad (Andhra Pradesh) to carry on banking business. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.N. L
ऑक्टो 03, 2001
RBI rejects licence application of The Daltonganj Central Co-operative Bank Ltd.
The Reserve Bank of India has rejected the licence application of The Daltonganj Central Co-operative Bank Ltd., Daltonganj (Jharkhand) to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P.
The Reserve Bank of India has rejected the licence application of The Daltonganj Central Co-operative Bank Ltd., Daltonganj (Jharkhand) to carry on banking business. The bank is precluded from transacting the business of ‘banking’ as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.P.
ऑग 01, 2001
RBI cancels licence of The Friends' Co-operative Bank Ltd.
The Reserve Bank of India has cancelled the licence of The Friends' Co-operative Bank Ltd., Mumbai, Maharashtra to carry on banking business in India. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheque, draft, order or otherwise.P.V. Sadanandan Asst.
The Reserve Bank of India has cancelled the licence of The Friends' Co-operative Bank Ltd., Mumbai, Maharashtra to carry on banking business in India. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from public and allow withdrawal by cheque, draft, order or otherwise.P.V. Sadanandan Asst.
एप्रि 04, 2001
Liquidity Facilities to Co-operative Banks
In the wake of the recent events that have affected a few urban co-operative banks in Gujarat, it had been reported that some co-operative banks may face liquidity problems in their day-to-day operations. To obviate any such difficulty, the Reserve Bank had already advised all concerned that these banks may approach public sector banks and also primary dealers for repos facilities against eligible government securities held by them. In case the co-operative banks are
In the wake of the recent events that have affected a few urban co-operative banks in Gujarat, it had been reported that some co-operative banks may face liquidity problems in their day-to-day operations. To obviate any such difficulty, the Reserve Bank had already advised all concerned that these banks may approach public sector banks and also primary dealers for repos facilities against eligible government securities held by them. In case the co-operative banks are
मार्च 29, 2001
All Primary Urban Cooperative Banks will close their Annual Accounts on April 1 , 2001
The Reserve Bank of India has advised all primary cooperative banks that they should close their annual accounts for the year ending March 31, 2001 on April 1, 2001. As such, primary urban cooperative banks will function normally on April 3, 2001 in those states where April 2, 2001 has been declared a holiday under the Negotiable Instrument Act,1881 on account of Ram Navami. In other states, the normal working day for these banks will be April 2, 2001. In other words,
The Reserve Bank of India has advised all primary cooperative banks that they should close their annual accounts for the year ending March 31, 2001 on April 1, 2001. As such, primary urban cooperative banks will function normally on April 3, 2001 in those states where April 2, 2001 has been declared a holiday under the Negotiable Instrument Act,1881 on account of Ram Navami. In other states, the normal working day for these banks will be April 2, 2001. In other words,
मार्च 23, 2001
RBI rejects licence application of The Kurnool Urban Co-operative Credit Bank Ltd.
The Reserve Bank of India has rejected the licence application of The Kurnool Urban Co-operative Credit Bank Ltd., (Andhra Pradesh) to carry on banking business. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.N.L
The Reserve Bank of India has rejected the licence application of The Kurnool Urban Co-operative Credit Bank Ltd., (Andhra Pradesh) to carry on banking business. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.N.L
मार्च 20, 2001
RBI rejects the licence application of The Co-operative Bank Ltd.
The Reserve Bank of India has rejected the licence application of The Co-operative Bank Ltd., Chodavaram, Andhra Pradesh to carry on banking business in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.N.L.
The Reserve Bank of India has rejected the licence application of The Co-operative Bank Ltd., Chodavaram, Andhra Pradesh to carry on banking business in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.N.L.
मार्च 16, 2001
RBI rejects the licence application of The Pranabananda Co-operative Bank Ltd.
The Reserve Bank of India has rejected the licence application of The Pranabananda Co-operative Bank Ltd., Burdwan, West Bengal to carry on banking busines in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise
The Reserve Bank of India has rejected the licence application of The Pranabananda Co-operative Bank Ltd., Burdwan, West Bengal to carry on banking busines in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise
फेब्रु 14, 2001
RBI cancels licence of The Mira Bhayandar Co-operative Bank Ltd., Bhayandar, (Maharashtra) to carry on banking business
The Reserve Bank of India has cancelled the licence granted to the Mira Bhayandar Co-operative Bank Ltd., Bhayandar, (Maharashtra) to carry on banking business in India. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies), and it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwi
The Reserve Bank of India has cancelled the licence granted to the Mira Bhayandar Co-operative Bank Ltd., Bhayandar, (Maharashtra) to carry on banking business in India. The bank is precluded from transacting the business of `banking' as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies), and it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwi
नोव्हें 08, 2000
RBI cancels licence of The Nagrik Co-operative Commercial Bank Maryadit
The Reserve Bank of India has cancelled the licence of The Nagrik Co-operative Commercial Bank Maryadit, Bilaspur, Madhya Pradesh to carry on banking business in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherw
The Reserve Bank of India has cancelled the licence of The Nagrik Co-operative Commercial Bank Maryadit, Bilaspur, Madhya Pradesh to carry on banking business in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherw
ऑक्टो 18, 2000
RBI cancels licence of The Prathamik Shikshak Sahakari Bank Ltd.
The Reserve Bank of India has cancelled the licence of The Prathamik Shikshak Sahakari Bank Ltd., Nasik (Maharashtra) to carry on banking busines in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.N.L. Rao
The Reserve Bank of India has cancelled the licence of The Prathamik Shikshak Sahakari Bank Ltd., Nasik (Maharashtra) to carry on banking busines in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.N.L. Rao
ऑक्टो 05, 2000
RBI cancels licence of The Jyothirlinga Sahakari Bank Ltd.
The Reserve Bank of India has cancelled the licence of The Jyothirlinga Sahakari Bank Ltd., Jalageri, Dist. Bijapur (Karnataka) to carry on banking busines in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise
The Reserve Bank of India has cancelled the licence of The Jyothirlinga Sahakari Bank Ltd., Jalageri, Dist. Bijapur (Karnataka) to carry on banking busines in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise
सप्टें 29, 2000
RBI cancels licence granted to The Latur Peoples Co-operative Bank Ltd.
The Reserve Bank of India has cancelled the licence granted to The Latur Peoples Co-operative Bank Ltd., Latur (Maharashtra) to carry on banking business in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.N.L. R
The Reserve Bank of India has cancelled the licence granted to The Latur Peoples Co-operative Bank Ltd., Latur (Maharashtra) to carry on banking business in India. The bank is precluded from transacting the business of banking as defined in the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) and it will not be in order for it, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.N.L. R
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