Press Releases - Regulating Co-operative Banking - ਆਰਬੀਆਈ - Reserve Bank of India
ਪ੍ਰੈਸ ਰਿਲੀਜ਼
ਨਵੰ 15, 2016
Withdrawal of Legal Tender Character of Specified Bank Notes: RBI asks Cooperative Banks to ensure Strict Compliance to its Instructions
There were reports that some cooperative banks were not strictly adhering to the instructions issued in connection with the withdrawal of legal tender status of the existing ₹ 500 and ₹ 1000 bank notes (specified bank notes). The Reserve Bank of India today informed that it has advised the Urban Cooperative Banks through its Regional Offices and the State Cooperative Banks through National Bank for Agricultural and Rural Development (NABARD) of the need to ensure stri
There were reports that some cooperative banks were not strictly adhering to the instructions issued in connection with the withdrawal of legal tender status of the existing ₹ 500 and ₹ 1000 bank notes (specified bank notes). The Reserve Bank of India today informed that it has advised the Urban Cooperative Banks through its Regional Offices and the State Cooperative Banks through National Bank for Agricultural and Rural Development (NABARD) of the need to ensure stri
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ਨਵੰ 14, 2016
DCCBs can allow existing customers to withdraw upto ₹ 24,000 from their accounts : RBI
The Reserve Bank of India has today clarified that District Central Cooperative Banks (DCCBs) can allow their existing customers to withdraw money from their accounts upto ₹ 24,000 per week upto November 24, 2016. However, no exchange facility against the specified bank notes (₹ 500 and ₹ 1000) or deposit of such notes should be entertained by them. The Reserve Bank has accordingly advised all banks to permit withdrawal of cash by DCCBs from their accounts based on ne
The Reserve Bank of India has today clarified that District Central Cooperative Banks (DCCBs) can allow their existing customers to withdraw money from their accounts upto ₹ 24,000 per week upto November 24, 2016. However, no exchange facility against the specified bank notes (₹ 500 and ₹ 1000) or deposit of such notes should be entertained by them. The Reserve Bank has accordingly advised all banks to permit withdrawal of cash by DCCBs from their accounts based on ne
ਅਕਤੂ 28, 2016
RBI imposes penalty on The Devi Gayatri Co-operative Urban Bank Ltd., Hyderabad, Telangana
The Reserve Bank of India has imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Devi Gayatri Co-operative Urban Bank Ltd., Hyderabad, Telangana, in exercise of the powers vested in it under the provisions of Section 47A (1) (b) read with Section 46 (4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of Reserve Bank of India directives and guidelines on loans and advances to directors and their relatives
The Reserve Bank of India has imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Devi Gayatri Co-operative Urban Bank Ltd., Hyderabad, Telangana, in exercise of the powers vested in it under the provisions of Section 47A (1) (b) read with Section 46 (4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of Reserve Bank of India directives and guidelines on loans and advances to directors and their relatives
ਅਕਤੂ 19, 2016
RBI imposes penalty on The Tumkur Veerashaiva Co-operative Bank Ltd.,Tumkur, Karnataka
The Reserve Bank of India has imposed a monetary penalty of ₹ 10.00 lakh (Rupees Ten lakh only) on Tumkur Veerashaiva Cooperative Bank Ltd., Tumkur, Karnataka, in exercise of the powers vested in it under the provisions of Section 47 A (1) (b) read with Section 46 (4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) for violating Reserve Bank of India’s instructions/ guidelines contained in circular dated April 11, 2005 prohibiting payment
The Reserve Bank of India has imposed a monetary penalty of ₹ 10.00 lakh (Rupees Ten lakh only) on Tumkur Veerashaiva Cooperative Bank Ltd., Tumkur, Karnataka, in exercise of the powers vested in it under the provisions of Section 47 A (1) (b) read with Section 46 (4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) for violating Reserve Bank of India’s instructions/ guidelines contained in circular dated April 11, 2005 prohibiting payment
ਅਕਤੂ 14, 2016
RBI issues Directions to United India Co-operative Bank Ltd., Nagina, Bijnor, Uttar Pradesh - Withdrawal of Directions
The Reserve Bank of India (RBI) had issued directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) to United India Co-operative Bank Ltd., Nagina, Bijnor, Uttar Pradesh vide directive dated July 08, 2015. The Directions were extended from time to time and the last such Directive dated March 30, 2016, are currently valid upto October 14, 2016. Reserve Bank, on being satisfied that in the public interest it is necessary to do so, in
The Reserve Bank of India (RBI) had issued directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) to United India Co-operative Bank Ltd., Nagina, Bijnor, Uttar Pradesh vide directive dated July 08, 2015. The Directions were extended from time to time and the last such Directive dated March 30, 2016, are currently valid upto October 14, 2016. Reserve Bank, on being satisfied that in the public interest it is necessary to do so, in
ਅਕਤੂ 14, 2016
RBI extends validity of Directions issued to the HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh till April 15, 2017
The Reserve Bank of India has extended directions issued to the HCBL Co-operative Bank Ltd., Lucknow for a further period of six months from October 16, 2016 to April 15, 2017, subject to review. The bank had been under directions since the close of business on April 16, 2015 vide directive dated April 10, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified and its validity extended upto October 15, 2016. The
The Reserve Bank of India has extended directions issued to the HCBL Co-operative Bank Ltd., Lucknow for a further period of six months from October 16, 2016 to April 15, 2017, subject to review. The bank had been under directions since the close of business on April 16, 2015 vide directive dated April 10, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified and its validity extended upto October 15, 2016. The
ਅਕਤੂ 13, 2016
RBI extend Directions Jamkhed Merchants Co-operative Bank Ltd., Jamkhed, Ahmednagar, Maharashtra
The Reserve Bank of India, notified that Jamkhed Merchants Co-operative Bank Ltd., Ahmednagar, Maharashtra, was placed under directions for a period of six months vide directive dated April 07, 2016 from the close of business on April 12, 2016. The validity of the directions is extended for a period of six months from October 13, 2016 to April 12, 2017 vide directive dated October 06, 2016, subject to review. Reserve Bank of India, in exercise of the powers vested in
The Reserve Bank of India, notified that Jamkhed Merchants Co-operative Bank Ltd., Ahmednagar, Maharashtra, was placed under directions for a period of six months vide directive dated April 07, 2016 from the close of business on April 12, 2016. The validity of the directions is extended for a period of six months from October 13, 2016 to April 12, 2017 vide directive dated October 06, 2016, subject to review. Reserve Bank of India, in exercise of the powers vested in
ਅਕਤੂ 05, 2016
RBI extend Directions Gokul Co-operative Urban Bank Ltd., Secunderabad till April 04, 2017
The Reserve Bank of India is satisfied that in the interest of the public, it is necessary to extend the validity of the Directives issued to Gokul Co-operative Urban Bank Ltd., Secunderabad, for a further period of six months. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) has directed that the Directives issued to Gokul C
The Reserve Bank of India is satisfied that in the interest of the public, it is necessary to extend the validity of the Directives issued to Gokul Co-operative Urban Bank Ltd., Secunderabad, for a further period of six months. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) has directed that the Directives issued to Gokul C
ਅਕਤੂ 05, 2016
RBI extends validity of the Directions issued to the Mercantile Urban Co-operative Bank Ltd., Meerut, Uttar Pradesh
The Reserve Bank of India (RBI) has extended the Directions issued to the Mercantile Urban Co-operative Bank Ltd., Meerut for a further period of six months from October 06, 2016 to April 05, 2017, subject to review. The bank has been under directions since October 06, 2015 vide directive dated September 30, 2015 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive had been modified / its validity extended vid
The Reserve Bank of India (RBI) has extended the Directions issued to the Mercantile Urban Co-operative Bank Ltd., Meerut for a further period of six months from October 06, 2016 to April 05, 2017, subject to review. The bank has been under directions since October 06, 2015 vide directive dated September 30, 2015 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive had been modified / its validity extended vid
ਅਕਤੂ 03, 2016
RBI extends Directions issued to Shri Sai Urban Co-operative Bank Ltd., Mukhed Dist.Nanded, Maharashtra till December 31, 2016
The Reserve Bank of India has extended Directions issued to Shri Sai Urban Co-operative Bank Ltd., Mukhed, Dist. Nanded (Maharashtra) for a further period of three months from the close of business as on September 30, 2016 to December 31, 2016, subject to review. The bank was under directions since July 01, 2015. The directions were earlier extended for nine months on two occasions. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub
The Reserve Bank of India has extended Directions issued to Shri Sai Urban Co-operative Bank Ltd., Mukhed, Dist. Nanded (Maharashtra) for a further period of three months from the close of business as on September 30, 2016 to December 31, 2016, subject to review. The bank was under directions since July 01, 2015. The directions were earlier extended for nine months on two occasions. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub
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