Reserve Bank of India (RBI) is satisfied to notify The Ananthasayanam Co-operative Bank Ltd., Trivandrum as a non-banking institution under Section 36A(2) read with Section 56 of the Banking Regulation Act, 1949. Accordingly, RBI has cancelled the licence dated December 19, 1987, granted to The Ananthasayanam Co-operative Bank Ltd., Trivandrum, Kerala to carry on banking business in India under Section 22 read with Section 56 of the Banking Regulation Act,1949 with effect from the close of business on September 21, 2023. This makes it obligatory on the part of The Ananthasayanam Co-operative Bank Ltd., Trivandrum to stop conducting the business of ‘banking’ within the meaning of section 5(b) of the Act ibid, including acceptance of deposits from non-members with immediate effect. Further, The Ananthasayanam Co-operative Bank Ltd., Trivandrum shall ensure to repay unpaid and unclaimed deposits of non-members held by it, whenever demanded, even after being notified as non-banking Institution.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Dwarkadas Mantri Nagari Sahakari Bank Ltd., Beed, vide Directive DoS.CO.NSUCBs-West/D-4/S3706/12.07.005/2021-22 dated March 09, 2022 for a period of six months up to September 09, 2022, as modified from time to time, which were last extended up to September 09, 2023 vide Directive DOR.MON/D-31/12.22.613/2023-24 dated June 09, 2023. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond September 09, 2023.

2. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directive for a further period of three months from close of business on September 09, 2023 to close of business on December 09, 2023, subject to review.

3. All other terms and conditions of the Directives under reference shall remain unchanged.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/883

The Reserve Bank of India, vide directive CO.DOS.SED.No.S8241/12-22-316/2022-2023 dated March 09, 2023, had placed Defence Accounts Cooperative Bank ltd, Pune under Directions from the close of business on March 10, 2023.

2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the aforesaid Directions shall continue to apply to the bank till close of business on December 10, 2023 as per the directive DOR.MON.D-73/12.22.262/2023-24 dated September 08, 2023, subject to review.

3. All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the directive dated September 08, 2023 notifying the above extension is displayed at the bank’s premises for the perusal of public.

4. The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/896

Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan was placed under All-Inclusive Directions from close of business on November 09, 2018 for a period of six months, subject to review, vide Directive dated October 26, 2018. The validity of the directions was last extended vide Directive dated June 07, 2023 for three months up to close of business on September 09, 2023, subject to review.

It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A of Banking Regulation Act, 1949 (AACS) read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the Directive dated October 26, 2018, issued to the above bank, the validity of which was last extended up to close of business on September 09, 2023, shall continue to apply to the bank for a further period of three months from close of business on September 09, 2023 to close of business on December 09, 2023, vide Directive dated September 07, 2023, subject to review.

All the other terms and conditions of the Directive under reference shall remain unchanged. A copy of the above Directive dated September 07, 2023 notifying the extension is displayed at the bank’s premises for the perusal of public.

The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that Reserve Bank of India is satisfied with the financial position of the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/894

The Reserve Bank of India, vide directive CO.DOS.SED.No.S8240/12-22-493/2022-2023 dated March 09, 2023, had placed Pune Sahakari Bank Ltd., Shivajinagar, Pune, Maharashtra under Directions from the close of business on March 10, 2023, for a period of six months.

2. It is hereby notified for the information of the public that, the Reserve Bank of India, in the exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949, hereby extends the Directions for a further period of three months from close of business on September 10, 2023, to close of business on December 10, 2023 as per the Directive ‘DOR.MON.D-72/12.22.493/2023-2024' dated September 07, 2023, subject to review.

3. All other terms and conditions of the Directives under reference shall remain unchanged. A copy of the Directive dated September 07, 2023, notifying the above extension is displayed at the bank’s premises for the perusal of the public.

4. The aforesaid extension and /or modification by the Reserve Bank of India should not per-se be construed to imply that the Reserve Bank of India is satisfied with the financial position of the bank.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/900

The Reserve Bank of India, vide Directive LKO.DOS.SED.No.S875/10-03-759/2022-2023 dated March 09, 2023 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the National Mercantile Co-operative Bank Ltd., Lucknow (U.P.) under Directions from the close of business on March 10, 2023. The validity of the Directions was up to September 10, 2023.

2. It is hereby notified for the information of the public that, the Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), hereby directs that the aforesaid Directions shall continue to apply on to the bank from close of business on September 10, 2023 to close of business on December 10, 2023 as per the Directive DOR.MON/D-71/12.28.015/2023-24 dated September 07, 2023, subject to review.

3. All other terms and conditions of the Directions under reference shall remain unchanged. A copy of the Directive dated September 07, 2023 notifying the above extension is displayed at the bank’s premises for the perusal of members and public.

4. The issue of the above Directions by the Reserve Bank of India should not per se be construed as cancellation of banking license by RBI. The Reserve Bank may consider modifications of these Directions depending upon circumstances.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/892

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to The Imperial Urban Cooperative Bank Ltd., Jalandhar vide Directive No. CDG.DOS.RSG.No.S1645/16-03-46/2022-23 dated March 9, 2023 for a period of six months up to close of business on September 10, 2023. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive beyond close of business on September 10, 2023.

The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to the Hiriyur Urban Co-operative Bank Ltd., Hiriyur, from the close of business on March 10, 2023 vide Directive No. BLR.DOS.SSMS. No. S2333/12-14-075/2022-2023 dated March 09, 2023 for a period of six months. The Reserve Bank of India is satisfied that in the public interest, it is necessary to further extend the period of operation of the Directive.

Reserve Bank of India vide directive DoS.CO.SUCBs-West/S2399/12.22.159/2021-22 dated December 06, 2021 had placed Nagar Urban Co-operative Bank Ltd., Ahmednagar under Directions from the close of business on December 06, 2021 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to September 06, 2023.

Sumerpur Mercantile Urban Co-operative Bank Limited, Sumerpur, Rajasthan was placed under All-Inclusive Directions from close of business on December 06, 2022 for a period of six months, subject to review, vide Directive dated December 05, 2022. The validity of the directions was last extended vide Directive dated June 06, 2023 for three months up to September 06, 2023, subject to review.