Press Releases - Regulating Co-operative Banking - ଆରବିଆଇ - Reserve Bank of India
ପ୍ରେସ୍ ପ୍ରକାଶନୀ
ଜୁନ 15, 1999
RBI grants 12 new licences to foreign banks in 1998-99
The Reserve Bank of India has issued further five licences for the year 1998-99 for opening branches by foreign banks in India as underName of bank Centre1. Citibank N AAhmedabad2. American Express BankBangalore3. ANZ Grindlays Bank PIcPune4. Bank of Nova ScotiaHyderabad5. Standard Chartered Bank BangaloreThe Reserve Bank of India had earlier during the year issued 7 licences which included two maiden branches of new foreign banks and 5 licences for additional branche
The Reserve Bank of India has issued further five licences for the year 1998-99 for opening branches by foreign banks in India as underName of bank Centre1. Citibank N AAhmedabad2. American Express BankBangalore3. ANZ Grindlays Bank PIcPune4. Bank of Nova ScotiaHyderabad5. Standard Chartered Bank BangaloreThe Reserve Bank of India had earlier during the year issued 7 licences which included two maiden branches of new foreign banks and 5 licences for additional branche
ପିଡିଏଫ (
ଜୁନ 03, 1999
Moratorium on Sikkim 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 March 8, 1999 extended the period of moratorium in respect of Sikkim Bank Ltd., for a further period up to and inclusive of September 3, 1999. The notification has been issued on June 2, 1999.Rupambara Padhi ManagerPress Release : 1998-99/1499
The Central Government on the recommendation of the Reserve Bank of India and in partial modification of the Government's earlier Notification dated March 8, 1999 extended the period of moratorium in respect of Sikkim Bank Ltd., for a further period up to and inclusive of September 3, 1999. The notification has been issued on June 2, 1999.Rupambara Padhi ManagerPress Release : 1998-99/1499
ମଇ 27, 1999
RBI sets up High Power Committee on Urban Co-operative Banks
The Reserve Bank of India has set up a High Power Committee to review the performance of urban co-operative banks and suggest necessary measures to strengthen them. The Committee will consist of :1.Shri K. Madhava Rao, IAS (Retd.) Ex. Chief Secretary Government of Andhra Pradesh HyderabadChairman 2.Shri Y.H. Malegam Director, Central Board, RBI Chartered Accountant S.B. Billimoria & Co. MumbaiMember 3.Shri Subhash S.Lalla, IAS Commissioner for Co-operation and Reg
The Reserve Bank of India has set up a High Power Committee to review the performance of urban co-operative banks and suggest necessary measures to strengthen them. The Committee will consist of :1.Shri K. Madhava Rao, IAS (Retd.) Ex. Chief Secretary Government of Andhra Pradesh HyderabadChairman 2.Shri Y.H. Malegam Director, Central Board, RBI Chartered Accountant S.B. Billimoria & Co. MumbaiMember 3.Shri Subhash S.Lalla, IAS Commissioner for Co-operation and Reg
ମଇ 25, 1999
RBI denies licence to Harisiddha Cooperative Bank Ltd.
The Reserve Bank of India has rejected the licence application of the Harisiddha Cooperative Bank Ltd., Ahmedabad, Gujarat State, to carry on banking business in India. The company is precluded from transacting the business of 'banking' as defined in the Banking Regulations Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be allowed, 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 Harisiddha Cooperative Bank Ltd., Ahmedabad, Gujarat State, to carry on banking business in India. The company is precluded from transacting the business of 'banking' as defined in the Banking Regulations Act, 1949 (as applicable to Co-operative Societies). Thus, it will not be allowed, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or otherwise.
ମଇ 13, 1999
RBI denies licence to The Relief Mercantile Cooperative Bank Ltd.
The Reserve Bank of India has rejected the licence application of the Relief Mercantile Co-operative Bank Ltd., Ahmedabad, Gujarat State, to carry on banking business in India. The company 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 allowed, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or oth
The Reserve Bank of India has rejected the licence application of the Relief Mercantile Co-operative Bank Ltd., Ahmedabad, Gujarat State, to carry on banking business in India. The company 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 allowed, among other things, to accept deposits from the public and allow withdrawals by cheque, draft, order or oth
ମଇ 07, 1999
RBI denies licence to Ellisbridge Co-operative Bank
The Reserve Bank of India has rejected the licence application of Ellisbridge Co-operative Bank Ltd., Ahmedabad, Gujarat State, to carry on banking business in India. The company 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 otherwis
The Reserve Bank of India has rejected the licence application of Ellisbridge Co-operative Bank Ltd., Ahmedabad, Gujarat State, to carry on banking business in India. The company 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 otherwis
ଅପ୍ରେଲ 13, 1999
M/s. Jenson & Nicholson Financial Services Ltd., Prohibited from accepting deposits
The Reserve Bank of India has prohibited with immediate effect, M/s. Jenson & Nicholson Financial Services Ltd., having its registered office at 225, Acharya Jagadish Chandra Bose Road, Calcutta-700 020, from accepting public deposits from any person in any form whether by way of fresh deposits or renewal of the deposits or otherwise.M/s. Jenson & Nicholson Financial Services Ltd. had failed to comply with various provisions of the Reserve Bank's Directions, s
The Reserve Bank of India has prohibited with immediate effect, M/s. Jenson & Nicholson Financial Services Ltd., having its registered office at 225, Acharya Jagadish Chandra Bose Road, Calcutta-700 020, from accepting public deposits from any person in any form whether by way of fresh deposits or renewal of the deposits or otherwise.M/s. Jenson & Nicholson Financial Services Ltd. had failed to comply with various provisions of the Reserve Bank's Directions, s
ଅପ୍ରେଲ 10, 1999
RBI denies licence to Shri Sarvodaya Co-operative Bank Ltd., Ahmedabad
The Reserve Bank of India has rejected the licence application of Shri Sarvodaya Co-operative Bank Ltd., Ahmedabad, Gujarat State, 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 otherwis
The Reserve Bank of India has rejected the licence application of Shri Sarvodaya Co-operative Bank Ltd., Ahmedabad, Gujarat State, 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 otherwis
ମାର୍ଚ୍ଚ 12, 1999
Work relating to Urban Banks in Marathwada Region transfered from Mumbai to Nagpur
The Reserve Bank of India has decided as part of its decentralisation programme, and also with a view to improving its customer service, to transfer, with effect from March 12, 1999, the work relating to primary cooperative banks located in 7 districts of the Marathwada Region viz., Aurangabad, Beed, Jalna, Latur, Nanded, Parbhani and Osmanabad, from its Mumbai Office, to its Nagpur Office. Accordingly all matters relating to urban cooperative banks, both existing as
The Reserve Bank of India has decided as part of its decentralisation programme, and also with a view to improving its customer service, to transfer, with effect from March 12, 1999, the work relating to primary cooperative banks located in 7 districts of the Marathwada Region viz., Aurangabad, Beed, Jalna, Latur, Nanded, Parbhani and Osmanabad, from its Mumbai Office, to its Nagpur Office. Accordingly all matters relating to urban cooperative banks, both existing as
ମାର୍ଚ୍ଚ 10, 1999
Moratorium on Bareilly Corporation Bank Ltd.
The Central Government on the recommendation of the Reserve Bank of India has issued orders of moratorium on the Bareilly Corporation Bank Ltd. for the period from the close of business on March 8, 1999 upto and inclusive of June 5, 1999 under the provisions of Sub-Section (2) of Section 45 of the Banking Regulation Act, 1949.The moratorium has been declared in public interest, in the interest of the depositors and the banking system.During the period of moratorium, t
The Central Government on the recommendation of the Reserve Bank of India has issued orders of moratorium on the Bareilly Corporation Bank Ltd. for the period from the close of business on March 8, 1999 upto and inclusive of June 5, 1999 under the provisions of Sub-Section (2) of Section 45 of the Banking Regulation Act, 1949.The moratorium has been declared in public interest, in the interest of the depositors and the banking system.During the period of moratorium, t
ମାର୍ଚ୍ଚ 09, 1999
RBI denies licence to the Suprabhat Sahakari Bank Ltd., Ahmedabad
The Reserve Bank of India has rejected the licence application of the Suprabhat Sahakari Bank Ltd., Ahmedabad, Gujarat 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.Alpana Kil
The Reserve Bank of India has rejected the licence application of the Suprabhat Sahakari Bank Ltd., Ahmedabad, Gujarat 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.Alpana Kil
ମାର୍ଚ୍ଚ 09, 1999
Moratorium on Sikkim Bank Ltd.
The Central Government on the recommendation of the Reserve Bank of India has issued orders of moratorium on the Sikkim Bank Ltd. for the period from the close of business on March 8, 1999 upto and inclusive of June 5, 1999 under the provisions of Sub-Section (2) of Section 45 of the Banking Regulation Act,1949.The moratorium has been declared in public interest, in the interest of the depositors and the banking system.During the period of moratorium, the bank has bee
The Central Government on the recommendation of the Reserve Bank of India has issued orders of moratorium on the Sikkim Bank Ltd. for the period from the close of business on March 8, 1999 upto and inclusive of June 5, 1999 under the provisions of Sub-Section (2) of Section 45 of the Banking Regulation Act,1949.The moratorium has been declared in public interest, in the interest of the depositors and the banking system.During the period of moratorium, the bank has bee
ଫେବୃଆରୀ 17, 1999
Reserve Bank gives in-principle approval for setting up of five more Local Area Banks
The Reserve Bank of India has given `in-principle' approval for establishment of five more local area banks viz (1) Capital Local Area Bank Ltd., Nakodar, Punjab (2) Coastal Local Area Bank Ltd., Vijayawada, Andhra Pradesh (3) Local Area Bank of Kongunadu Ltd., Salem, Tamil Nadu (4) Vinayak Local Area Bank Ltd., Sikar, Rajasthan and (5) Central Gujarat Local Area Bank Ltd., Dabhoi, Gujarat. The `in-principle' approval has been given subject to the proposed banks compl
The Reserve Bank of India has given `in-principle' approval for establishment of five more local area banks viz (1) Capital Local Area Bank Ltd., Nakodar, Punjab (2) Coastal Local Area Bank Ltd., Vijayawada, Andhra Pradesh (3) Local Area Bank of Kongunadu Ltd., Salem, Tamil Nadu (4) Vinayak Local Area Bank Ltd., Sikar, Rajasthan and (5) Central Gujarat Local Area Bank Ltd., Dabhoi, Gujarat. The `in-principle' approval has been given subject to the proposed banks compl
ଜାନୁଆରୀ 21, 1999
RBI withdraws 'in-principle' approval for Bank of Gujarat
The Reserve Bank of India had granted, in January 1994, an 'in-principle' approval for setting up a new banking company under the name of 'Bank of Gujarat Ltd.,' with its headquarters at Ahmedabad. In view of the inordinate delay in setting up of the proposed bank, the Reserve Bank has withdrawn the 'in-principle' approval today. The bank, therefore, cannot be set up.Maureen Shankar ManagerPress Release : 1998-99/960
The Reserve Bank of India had granted, in January 1994, an 'in-principle' approval for setting up a new banking company under the name of 'Bank of Gujarat Ltd.,' with its headquarters at Ahmedabad. In view of the inordinate delay in setting up of the proposed bank, the Reserve Bank has withdrawn the 'in-principle' approval today. The bank, therefore, cannot be set up.Maureen Shankar ManagerPress Release : 1998-99/960
ଡିସେମ୍ବର 03, 1998
RBI rejects licence application of Ravikiran Urban Co-operative Bank Ltd.
The Reserve Bank of India, in terms of the powers vested in it under Section 22(2) of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) has on November 27, 1998 rejected the licence application of the Ravikiran Urban Co-operative Bank Ltd., Mumbai, to conduct banking business in India, in view of its extremely unsatisfactory financial position. Maureen Shankar Manager Press Release:1998-99/723
The Reserve Bank of India, in terms of the powers vested in it under Section 22(2) of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) has on November 27, 1998 rejected the licence application of the Ravikiran Urban Co-operative Bank Ltd., Mumbai, to conduct banking business in India, in view of its extremely unsatisfactory financial position. Maureen Shankar Manager Press Release:1998-99/723
ନଭେମ୍ବର 03, 1998
Koduvayur Co-operative Bank can't do banking business
The Reserve Bank of India has rejected the application submitted by the Koduvayur Co-operative Urban Bank Ltd., Koduvayur, District Palakkad, Kerala 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
The Reserve Bank of India has rejected the application submitted by the Koduvayur Co-operative Urban Bank Ltd., Koduvayur, District Palakkad, Kerala 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
ନଭେମ୍ବର 03, 1998
Gudur Co-operative Bank can't do banking business
The Reserve Bank of India has rejected the application submitted by the Gudur Co-operative Urban Bank Ltd., Gudur, District Nellore, 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
The Reserve Bank of India has rejected the application submitted by the Gudur Co-operative Urban Bank Ltd., Gudur, District Nellore, 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
ଅକ୍ଟୋବର 29, 1998
RBI cautions public about Rajdhani Bank Ltd. and Indian Commercial Coop Bank Ltd.
It has come to the notice of the Reserve Bank of India that one Dr.Ranvir Kumar Singh whose address is 4-U.F. Babar Place, Near Bengali Market, New Delhi-110 001 is going to open a commercial bank in the name and style of "Rajdhani Bank Ltd." with its Registered Office at Sector-7, Pocket C-8/13, Rohini, New Delhi 110 085. It has also come to the notice of the Reserve Bank of India that the said Dr.Ranvir Kumar Singh is going to open a cooperative bank in the name and
It has come to the notice of the Reserve Bank of India that one Dr.Ranvir Kumar Singh whose address is 4-U.F. Babar Place, Near Bengali Market, New Delhi-110 001 is going to open a commercial bank in the name and style of "Rajdhani Bank Ltd." with its Registered Office at Sector-7, Pocket C-8/13, Rohini, New Delhi 110 085. It has also come to the notice of the Reserve Bank of India that the said Dr.Ranvir Kumar Singh is going to open a cooperative bank in the name and
ଅକ୍ଟୋବର 23, 1998
RBI Cancels Licence of Awami Mercantile Co-op. Bank
The Reserve Bank of India has, on October 17, 1998, cancelled the licence of the Awami Mercantile Co-operative Bank Ltd., Mumbai, to conduct banking business in India. The Reserve Bank has decided to cancel the licence of the Awami Mercantile Co-operative Bank in view of the extremely unsatisfactory financial position of the bank and in terms of the power vested in the Reserve Bank under Section 22(A) of the Banking Regulation Act, 1949, as applicable to co-operative
The Reserve Bank of India has, on October 17, 1998, cancelled the licence of the Awami Mercantile Co-operative Bank Ltd., Mumbai, to conduct banking business in India. The Reserve Bank has decided to cancel the licence of the Awami Mercantile Co-operative Bank in view of the extremely unsatisfactory financial position of the bank and in terms of the power vested in the Reserve Bank under Section 22(A) of the Banking Regulation Act, 1949, as applicable to co-operative
ଜାନୁଆରୀ 13, 1998
RBI cancels licence of Dadar Janata Sahakari Bank Ltd
Considering the extremely unsatisfactory financial position of the Dadar Janata Sahakari Bank Ltd., Dadar, Mumbai, the Reserve Bank of India vide its order dated December 16, 1997 passed in terms of the power vested in it under Section 22(4) of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies) has cancelled the licence of the said bank to conduct banking business in India. (Alpana Killawala) General Manager Press Release : 1997-98/620
Considering the extremely unsatisfactory financial position of the Dadar Janata Sahakari Bank Ltd., Dadar, Mumbai, the Reserve Bank of India vide its order dated December 16, 1997 passed in terms of the power vested in it under Section 22(4) of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies) has cancelled the licence of the said bank to conduct banking business in India. (Alpana Killawala) General Manager Press Release : 1997-98/620
ଜାନୁଆରୀ 15, 1997
Reserve Bank gives in principle approval for setting up of two local area banks
As per the Agreement signed between the Reserve Bank of India and Government of India on September 9, 1994, the system of ad-hoc Treasury Bills is to be discontinued by 1997-98. The Budget for 1997-98 has announced the decision to introduce a new system upon the discontinuation of the ad-hoc Treasury Bills from the financial year 1997-98. Consequently, the Reserve Bank of India and Government of India propose to enter into a fresh Agreement to give effect to the new s
As per the Agreement signed between the Reserve Bank of India and Government of India on September 9, 1994, the system of ad-hoc Treasury Bills is to be discontinued by 1997-98. The Budget for 1997-98 has announced the decision to introduce a new system upon the discontinuation of the ad-hoc Treasury Bills from the financial year 1997-98. Consequently, the Reserve Bank of India and Government of India propose to enter into a fresh Agreement to give effect to the new s
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