Press Releases - Regulating Co-operative Banking - ଆରବିଆଇ - Reserve Bank of India
ପ୍ରେସ୍ ପ୍ରକାଶନୀ
The Reserve Bank of India, vide directive CO.DOS.DSD.No.S2469/12-07-005/2022-23 dated July 15, 2022, had placed Raigad Sahakari Bank Limited, Mumbai, Maharashtra under Directions from the close of business on July 18, 2022, for a period of six months. The validity of the directions was extended from time to time, the last being up to October 18, 2023.
The Reserve Bank of India, vide directive CO.DOS.DSD.No.S2469/12-07-005/2022-23 dated July 15, 2022, had placed Raigad Sahakari Bank Limited, Mumbai, Maharashtra under Directions from the close of business on July 18, 2022, for a period of six months. The validity of the directions was extended from time to time, the last being up to 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 October 16, 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 October 16, 2023.
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Suvikas People’s Co-operative Bank Limited, Ahmedabad, Gujarat with The Kalupur Commercial Co-operative Bank Limited, Ahmedabad, Gujarat. The Scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from October 16, 2023. The branches of The Suvikas People’s Co-operative Bank Limited, Ahmedabad (Gujarat) will function as branches of The Kalupur Commercial Co-operative Bank Limited, Ahmedabad (Gujarat) with effect from October 16, 2023.
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Suvikas People’s Co-operative Bank Limited, Ahmedabad, Gujarat with The Kalupur Commercial Co-operative Bank Limited, Ahmedabad, Gujarat. The Scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from October 16, 2023. The branches of The Suvikas People’s Co-operative Bank Limited, Ahmedabad (Gujarat) will function as branches of The Kalupur Commercial Co-operative Bank Limited, Ahmedabad (Gujarat) with effect from October 16, 2023.
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. GWH.DOS.ADM.No.S163/01-10-101/2023-2024 dated October 12, 2023, has issued certain Directions to The Mahabhairab Co-operative Urban Bank Ltd., Tezpur, whereby, as from the close of business on October 12, 2023, the bank shall not, without prior approval of RBI in writing grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Direction dated October 12, 2023, a copy of which is displayed on the bank's website / premises for perusal by interested members of the public. Considering the bank's present liquidity position, no amount from the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn, but are allowed to set off loans against deposits subject to the conditions stated in the above RBI Directions.
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949, read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. GWH.DOS.ADM.No.S163/01-10-101/2023-2024 dated October 12, 2023, has issued certain Directions to The Mahabhairab Co-operative Urban Bank Ltd., Tezpur, whereby, as from the close of business on October 12, 2023, the bank shall not, without prior approval of RBI in writing grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits, disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets except as notified in the RBI Direction dated October 12, 2023, a copy of which is displayed on the bank's website / premises for perusal by interested members of the public. Considering the bank's present liquidity position, no amount from the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn, but are allowed to set off loans against deposits subject to the conditions stated in the above RBI Directions.
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 extended up to October 08, 2023 vide directive DOR.MON/D-35/12.28.115/2023-24 dated July 06, 2023.
2. The Reserve Bank of India, in exercise of the powers vested in it under subsection (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank till January 08, 2024, as per the directive DOR.MON/D-75/12.28.115/2023-24 dated October 06, 2023, subject to review.
3. The extension of Directions should not per se be construed as cancellation of banking license by the Reserve Bank of India. The bank will continue to undertake banking business with restrictions till its financial position improves.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/1068
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 extended up to October 08, 2023 vide directive DOR.MON/D-35/12.28.115/2023-24 dated July 06, 2023.
2. The Reserve Bank of India, in exercise of the powers vested in it under subsection (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank till January 08, 2024, as per the directive DOR.MON/D-75/12.28.115/2023-24 dated October 06, 2023, subject to review.
3. The extension of Directions should not per se be construed as cancellation of banking license by the Reserve Bank of India. The bank will continue to undertake banking business with restrictions till its financial position improves.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/1068
The Reserve Bank of India (RBI), vide order dated October 4, 2023, has cancelled the licence of Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on October 04, 2023. The Additional Secretary & Central Registrar of Cooperative Societies, Ministry of Cooperation, Government of India has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
RBI cancelled the licence of the bank as:
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The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
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The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
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The continuance of the bank is prejudicial to the interests of its depositors;
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The bank with its present financial position would be unable to pay its present depositors in full; and
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Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
2. Consequent to the cancellation of its licence, Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5 (b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.
3. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, 95.15% of the depositors are entitled to receive full amount of their deposits from DICGC. As on March 31, 2023, DICGC has already paid ₹294.85 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/1044
The Reserve Bank of India (RBI), vide order dated October 4, 2023, has cancelled the licence of Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on October 04, 2023. The Additional Secretary & Central Registrar of Cooperative Societies, Ministry of Cooperation, Government of India has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
RBI cancelled the licence of the bank as:
-
The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
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The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
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The continuance of the bank is prejudicial to the interests of its depositors;
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The bank with its present financial position would be unable to pay its present depositors in full; and
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Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
2. Consequent to the cancellation of its licence, Nagar Urban Co-operative Bank Ltd., Ahmednagar, Maharashtra is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5 (b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.
3. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, 95.15% of the depositors are entitled to receive full amount of their deposits from DICGC. As on March 31, 2023, DICGC has already paid ₹294.85 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/1044
Today, the Reserve Bank of India (RBI), vide order dated September 28, 2023, has cancelled the licence of Lucknow Urban Co-operative Bank Ltd., Lucknow, Uttar Pradesh. Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 29, 2023. The Commissioner and Registrar of Cooperative, Uttar Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the bank as: The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949; The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
Today, the Reserve Bank of India (RBI), vide order dated September 28, 2023, has cancelled the licence of Lucknow Urban Co-operative Bank Ltd., Lucknow, Uttar Pradesh. Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 29, 2023. The Commissioner and Registrar of Cooperative, Uttar Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank. The Reserve Bank cancelled the licence of the bank as: The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949; The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
The Reserve Bank of India (RBI), vide order dated September 25, 2023, has cancelled the licence of Nashik Zilla Girna Sahakari Bank Limited, Nashik, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 26, 2023. The Commissioner and Registrar of Cooperative, Maharashtra 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 September 25, 2023, has cancelled the licence of Nashik Zilla Girna Sahakari Bank Limited, Nashik, Maharashtra. Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 26, 2023. The Commissioner and Registrar of Cooperative, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
Today, the Reserve Bank of India (RBI), vide order dated September 25, 2023, has cancelled the licence of “The Kapol Co-operative Bank Limited, Mumbai, Maharashtra.” Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 25, 2023. The Additional Secretary & Central Registrar of Cooperative Societies, Ministry of Cooperation, Government of India has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
The Reserve Bank cancelled the licence of the bank as:
-
The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
-
The bank has failed to comply with the requirements of Sections 22(3) (a), 22(3) (b), 22(3)(c), 22(3)(d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
-
The continuance of the bank is prejudicial to the interests of its depositors;
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The bank with its present financial position would be unable to pay its present depositors in full; and
-
Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
2. Consequent to the cancellation of its licence, “The Kapol Co-operative Bank Limited, Mumbai, Maharashtra.” is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5 (b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.
3. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, 96.09% of the depositors are entitled to receive full amount of their deposits from DICGC. As on July 24, 2023, DICGC has already paid ₹230.16 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/985
Today, the Reserve Bank of India (RBI), vide order dated September 25, 2023, has cancelled the licence of “The Kapol Co-operative Bank Limited, Mumbai, Maharashtra.” Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 25, 2023. The Additional Secretary & Central Registrar of Cooperative Societies, Ministry of Cooperation, Government of India has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.
The Reserve Bank cancelled the licence of the bank as:
-
The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
-
The bank has failed to comply with the requirements of Sections 22(3) (a), 22(3) (b), 22(3)(c), 22(3)(d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
-
The continuance of the bank is prejudicial to the interests of its depositors;
-
The bank with its present financial position would be unable to pay its present depositors in full; and
-
Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.
2. Consequent to the cancellation of its licence, “The Kapol Co-operative Bank Limited, Mumbai, Maharashtra.” is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5 (b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.
3. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, 96.09% of the depositors are entitled to receive full amount of their deposits from DICGC. As on July 24, 2023, DICGC has already paid ₹230.16 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/985
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Sahebrao Deshmukh Co-operative Bank Ltd., Mumbai, Maharashtra with The Cosmos Co-operative Bank Limited, Pune, Maharashtra. The Scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from September 26, 2023. The branches of The Sahebrao Deshmukh Co-operative Bank Ltd., Mumbai (Maharashtra) will function as branches of The Cosmos Co-operative Bank Limited, Pune (Maharashtra) with effect from September 26, 2023.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/986
The Reserve Bank of India has sanctioned the Scheme of Amalgamation of The Sahebrao Deshmukh Co-operative Bank Ltd., Mumbai, Maharashtra with The Cosmos Co-operative Bank Limited, Pune, Maharashtra. The Scheme has been sanctioned in exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949. The Scheme will come into force with effect from September 26, 2023. The branches of The Sahebrao Deshmukh Co-operative Bank Ltd., Mumbai (Maharashtra) will function as branches of The Cosmos Co-operative Bank Limited, Pune (Maharashtra) with effect from September 26, 2023.
(Yogesh Dayal)
Chief General Manager
Press Release: 2023-2024/986
ପେଜ୍ ଅନ୍ତିମ ଅପଡେଟ୍ ହୋଇଛି: ଅଗଷ୍ଟ 16, 2024