Press Releases - Regulating Co-operative Banking - ਆਰਬੀਆਈ - Reserve Bank of India
ਪ੍ਰੈਸ ਰਿਲੀਜ਼
ਜੂਨ 29, 2015
RBI cancels Licence of Vitthal Nagari Sahakari Bank Ltd., Latur (Maharashtra)
The Reserve Bank of India (RBI) has cancelled the licence of Vitthal Nagari Sahakari Bank Ltd., Latur. The order was made effective from the close of business on June 26, 2015. The Registrar of Co-operative Societies, Maharashtra, has also been requested to issue an order for winding up of the bank and appoint a liquidator. The Reserve Bank cancelled the licence of the bank as: The financial position was precarious and there was no scope for its revival. The bank does
The Reserve Bank of India (RBI) has cancelled the licence of Vitthal Nagari Sahakari Bank Ltd., Latur. The order was made effective from the close of business on June 26, 2015. The Registrar of Co-operative Societies, Maharashtra, has also been requested to issue an order for winding up of the bank and appoint a liquidator. The Reserve Bank cancelled the licence of the bank as: The financial position was precarious and there was no scope for its revival. The bank does
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ਜੂਨ 22, 2015
RBI imposes penalty on The Hubli Urban Co-operative Bank Ltd., Hubli, Karnataka
The Reserve Bank of India has imposed a monetary penalty of ₹20.00 lakh (Rupees Twenty lakh only) on the Hubli Urban Co-operative Bank Ltd., Hubli, Karnataka, in exercise of 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 violation of Reserve Bank of India’s instructions for irregularities in cheque discounting, overdrawal in OD loan accounts etc
The Reserve Bank of India has imposed a monetary penalty of ₹20.00 lakh (Rupees Twenty lakh only) on the Hubli Urban Co-operative Bank Ltd., Hubli, Karnataka, in exercise of 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 violation of Reserve Bank of India’s instructions for irregularities in cheque discounting, overdrawal in OD loan accounts etc
ਜੂਨ 17, 2015
RBI imposes penalty on The Junagadh Commercial Co-operative Bank Ltd., Junagadh (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on The Junagadh Commercial Co-operative Bank Ltd., Junagadh (Gujarat), 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 violations of the directives/guidelines of the Reserve Bank on Know Your Customer (KYC) Norms / Anti-Money Launderi
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on The Junagadh Commercial Co-operative Bank Ltd., Junagadh (Gujarat), 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 violations of the directives/guidelines of the Reserve Bank on Know Your Customer (KYC) Norms / Anti-Money Launderi
ਜੂਨ 16, 2015
RBI imposes penalty on The Sutex Co-operative Bank Ltd., Surat (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh only) on The Sutex Co-operative Bank Ltd., Surat (Gujarat), 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 violations of the directives/guidelines of the Reserve Bank on Know Your Customer (KYC) and Anti Money Laundering (AML). The Reserve
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh only) on The Sutex Co-operative Bank Ltd., Surat (Gujarat), 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 violations of the directives/guidelines of the Reserve Bank on Know Your Customer (KYC) and Anti Money Laundering (AML). The Reserve
ਜੂਨ 12, 2015
RBI extends Directions issued to The Janata Commercial Cooperative Bank Ltd., Khamgaon (Buldhana), Maharashtra till September 13, 2015
The Reserve Bank of India has extended Directions issued to The Janata Commercial Cooperative Bank Ltd., Khamgaon (Buldhana) for a further period of three months from June 14, 2015 to September 13, 2015, subject to review. The bank was under directions since September 13, 2012. The Directions were earlier extended on four occasions for a period of six months each and on one occasion for a period of three months. The Directions were imposed in exercise of powers vested
The Reserve Bank of India has extended Directions issued to The Janata Commercial Cooperative Bank Ltd., Khamgaon (Buldhana) for a further period of three months from June 14, 2015 to September 13, 2015, subject to review. The bank was under directions since September 13, 2012. The Directions were earlier extended on four occasions for a period of six months each and on one occasion for a period of three months. The Directions were imposed in exercise of powers vested
ਜੂਨ 11, 2015
RBI penalises The Kutch Mercantile Co-operative Bank Ltd., Rapar, Dist. Kutch (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh) on The Kutch Mercantile Co-operative Bank Ltd., Rapar, Dist. Kutch (Gujarat), 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 non-compliance to Inspection Report(IR) for March 31, 2012 and March 31, 2013, not publishing its annual accounts
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh) on The Kutch Mercantile Co-operative Bank Ltd., Rapar, Dist. Kutch (Gujarat), 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 non-compliance to Inspection Report(IR) for March 31, 2012 and March 31, 2013, not publishing its annual accounts
ਜੂਨ 11, 2015
RBI imposes penalty on The Pij Peoples Co-operative Bank Ltd., Pij, Dist. Kheda
The Reserve Bank of India has imposed a monetary penalty ₹ 1.00 lakh (Rupees One Lakh only) on the Pij People’s Co-operative Bank Ltd., Pij, Dist. Kheda (Gujarat) 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 pertaining to risk categorization of accounts and non-reporting of Cash Transaction Reports (CTRs) to Financia
The Reserve Bank of India has imposed a monetary penalty ₹ 1.00 lakh (Rupees One Lakh only) on the Pij People’s Co-operative Bank Ltd., Pij, Dist. Kheda (Gujarat) 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 pertaining to risk categorization of accounts and non-reporting of Cash Transaction Reports (CTRs) to Financia
ਜੂਨ 10, 2015
RBI extends Directions issued to Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh till September 11, 2015
The Reserve Bank of India has extended Directions issued to Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of three months from June 12, 2015 to September 11, 2015, subject to review. The bank was under directions since June 12, 2014. According to the Directions, Indian Mercantile Co-operative Bank Ltd., Lucknow cannot and without prior approval of the Reserve Bank in writing grant or renew any loans and advances, make any investment, incur any
The Reserve Bank of India has extended Directions issued to Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of three months from June 12, 2015 to September 11, 2015, subject to review. The bank was under directions since June 12, 2014. According to the Directions, Indian Mercantile Co-operative Bank Ltd., Lucknow cannot and without prior approval of the Reserve Bank in writing grant or renew any loans and advances, make any investment, incur any
ਜੂਨ 09, 2015
RBI imposes penalty on Integral Urban Co-operative Bank Limited, Jaipur
The Reserve Bank of India has imposed a monetary penalty of ₹ 20.00 lakh (Rupees twenty lakh only ) on the Integral Urban Co-operative Bank Limited, Jaipur, in exercise of 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 the following violations of the guidelines/directives on Know Your Customers (KYC)/Anti Money Laundering (AML) viz. (i) Absence of
The Reserve Bank of India has imposed a monetary penalty of ₹ 20.00 lakh (Rupees twenty lakh only ) on the Integral Urban Co-operative Bank Limited, Jaipur, in exercise of 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 the following violations of the guidelines/directives on Know Your Customers (KYC)/Anti Money Laundering (AML) viz. (i) Absence of
ਜੂਨ 02, 2015
RBI imposes penalty on Shree Mahalaxmi Mercantile Co-operative Bank Ltd., Dabhoi, Dist. Vadodara (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees five lakh only) on Shree Mahalaxmi Mercantile Co-operative Bank Ltd., Dabhoi, Dist. Vadodara (Gujarat), 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 operational instructions issued by RBI u/s 36 (1) of the B R Act, 1949 (AACS) and RBI
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees five lakh only) on Shree Mahalaxmi Mercantile Co-operative Bank Ltd., Dabhoi, Dist. Vadodara (Gujarat), 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 operational instructions issued by RBI u/s 36 (1) of the B R Act, 1949 (AACS) and RBI
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