Press Releases - Regulating Co-operative Banking - ਆਰਬੀਆਈ - Reserve Bank of India
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ਅਪ੍ਰੈ 03, 2013
RBI places Shree Ganesh Sahakari Bank Ltd., Nashik, Maharashtra under Directions
The Reserve Bank of India has placed Shree Ganesh Sahakari Bank Ltd., Nashik, Maharashtra, under Directions. According to the Directions, depositors will be allowed to withdraw a sum not exceeding `1000/- (Rupees one thousand only) of the total balance held in every savings bank or current account or any other deposit account by whatever name called, subject to conditions stipulated in the RBI Directions. Shree Ganesh Sahakari Bank Ltd. will, without prior approval in
The Reserve Bank of India has placed Shree Ganesh Sahakari Bank Ltd., Nashik, Maharashtra, under Directions. According to the Directions, depositors will be allowed to withdraw a sum not exceeding `1000/- (Rupees one thousand only) of the total balance held in every savings bank or current account or any other deposit account by whatever name called, subject to conditions stipulated in the RBI Directions. Shree Ganesh Sahakari Bank Ltd. will, without prior approval in
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ਅਪ੍ਰੈ 02, 2013
Reserve Bank of India penalizes Sanmitra Sahakari Bank Ltd., Pune
The Reserve Bank of India, has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Sanmitra Sahakari Bank Ltd., Pune 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 (AACS), for violation of operational instructions relating to opening of new branch without prior permission of the Reserve Bank of India. The Reserve Bank of India had issued show cause notice to th
The Reserve Bank of India, has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Sanmitra Sahakari Bank Ltd., Pune 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 (AACS), for violation of operational instructions relating to opening of new branch without prior permission of the Reserve Bank of India. The Reserve Bank of India had issued show cause notice to th
ਮਾਰਚ 28, 2013
RBI keeps Normal Ways and Means Advances to the State Governments Unchanged for Fiscal 2013-14
The aggregate Normal Ways and Means Advances (WMA) limit for the State Governments inclusive of the Union Territory of Puducherry is placed at `10,240 crore for the year 2013-14. The limits are unchanged from the last year’s limits. Other terms and conditions of the Scheme would remain unchanged. The decision was taken after a review of the State-wise limits of Normal WMA for the year 2012-13. R.R. Sinha Deputy General Manager Press Release : 2012-2013/1637
The aggregate Normal Ways and Means Advances (WMA) limit for the State Governments inclusive of the Union Territory of Puducherry is placed at `10,240 crore for the year 2013-14. The limits are unchanged from the last year’s limits. Other terms and conditions of the Scheme would remain unchanged. The decision was taken after a review of the State-wise limits of Normal WMA for the year 2012-13. R.R. Sinha Deputy General Manager Press Release : 2012-2013/1637
ਮਾਰਚ 28, 2013
The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad now to be under RBI Directions till October 02, 2013
The Reserve Bank of India has extended the period of directions imposed on the The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad for further six months. The Bank with thus continue to be under directions from April 02, 2013 to October 02, 2013. The modified directive has been displayed on the bank premises for interested members of public to peruse. The Reserve Bank has initially imposed directions on the The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad from
The Reserve Bank of India has extended the period of directions imposed on the The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad for further six months. The Bank with thus continue to be under directions from April 02, 2013 to October 02, 2013. The modified directive has been displayed on the bank premises for interested members of public to peruse. The Reserve Bank has initially imposed directions on the The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad from
ਮਾਰਚ 22, 2013
Reserve Bank of India penalizes Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat)
The Reserve Bank of India, 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 (AACS), imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad for violation of the Banking Regulation Act, 1949 (AACS) / RBI directives / instructions relating to prohibition of loans and advances to directors/ relatives/related concerns.
The Reserve Bank of India, 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 (AACS), imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on Gujarat Mercantile Co-operative Bank Ltd., Ahmedabad for violation of the Banking Regulation Act, 1949 (AACS) / RBI directives / instructions relating to prohibition of loans and advances to directors/ relatives/related concerns.
ਮਾਰਚ 08, 2013
Reserve Bank Cancels the Licence of Abhinav Sahakari Bank Ltd., Rahuri (Maharashtra)
In view of the fact that Abhinav Sahakari Bank Ltd, Rahuri, Maharashtra had ceased to be solvent and all efforts to revive it in close consultation with the Government of Maharashtra had failed, the Reserve Bank of India delivered the order cancelling its licence to the bank as on the close of business on February 07, 2013. The Registrar of Co-operative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator fo
In view of the fact that Abhinav Sahakari Bank Ltd, Rahuri, Maharashtra had ceased to be solvent and all efforts to revive it in close consultation with the Government of Maharashtra had failed, the Reserve Bank of India delivered the order cancelling its licence to the bank as on the close of business on February 07, 2013. The Registrar of Co-operative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator fo
ਮਾਰਚ 05, 2013
RBI places Surat Nagrik Sahakari Bank Ltd., Surat, Gujarat under Directions
The Reserve Bank of India has placed Surat Nagrik Sahakari Bank Ltd., Surat under Directions. According to the Directions, depositors will be allowed to withdraw a sum not exceeding ` 1000/- (Rupees One thousand only) of the total balance held in every savings bank or current account or any other deposit account by whatever name called, subject to conditions stipulated in the RBI Directions. Surat Nagrik Sahakari Bank Ltd., Surat will, without prior approval of RBI in
The Reserve Bank of India has placed Surat Nagrik Sahakari Bank Ltd., Surat under Directions. According to the Directions, depositors will be allowed to withdraw a sum not exceeding ` 1000/- (Rupees One thousand only) of the total balance held in every savings bank or current account or any other deposit account by whatever name called, subject to conditions stipulated in the RBI Directions. Surat Nagrik Sahakari Bank Ltd., Surat will, without prior approval of RBI in
ਫ਼ਰ 25, 2013
RBI places Rupee Co-operative Bank, Maharashtra under Directions
The Reserve Bank of India has placed Rupee Co-operative bank Ltd., Dist. Pune, Maharashtra, under Directions. According to the Directions, depositors will be allowed to withdraw a sum not exceeding `1000/- (Rupees one thousand only) of the total balance held in every savings bank or current account or any other deposit account by whatever name called, subject to conditions stipulated in the RBI Directions. Rupee Co-operative Bank will, without prior approval in writin
The Reserve Bank of India has placed Rupee Co-operative bank Ltd., Dist. Pune, Maharashtra, under Directions. According to the Directions, depositors will be allowed to withdraw a sum not exceeding `1000/- (Rupees one thousand only) of the total balance held in every savings bank or current account or any other deposit account by whatever name called, subject to conditions stipulated in the RBI Directions. Rupee Co-operative Bank will, without prior approval in writin
ਫ਼ਰ 15, 2013
The Municipal Co-operative Bank Ltd. Ahmedabad
The Municipal Co-operative Bank Ltd., Ahmedabad was imposed directions by Reserve Bank of India vide its Directive UBD. CO.NSB.II. / D-85 /12.21.114/ 2009-10 dated February 08, 2010, effective from the close of business on February 15, 2010, in exercise of the powers vested under sub–section (1) of Section 35 A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies). The period of directions imposed which was expiring on February 14, 2013, has si
The Municipal Co-operative Bank Ltd., Ahmedabad was imposed directions by Reserve Bank of India vide its Directive UBD. CO.NSB.II. / D-85 /12.21.114/ 2009-10 dated February 08, 2010, effective from the close of business on February 15, 2010, in exercise of the powers vested under sub–section (1) of Section 35 A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies). The period of directions imposed which was expiring on February 14, 2013, has si
ਫ਼ਰ 13, 2013
Reserve Bank Cancels the Licence of Abhinav Sahakari Bank Ltd., Rahuri Dist. Ahmednagar, Maharashtra for carrying on banking business
It is hereby notified for the information of the public that the Reserve Bank of India vide order dated February 1, 2013 has cancelled the licence of Abhinav Sahakari Bank Ltd., Rahuri, Dist. Ahmednagar, Maharashtra to carry on banking business under Section 22 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies). As such, the bank is precluded from transacting the business of 'banking' as defined in Section 5(b) of the Banking Regulation Act,
It is hereby notified for the information of the public that the Reserve Bank of India vide order dated February 1, 2013 has cancelled the licence of Abhinav Sahakari Bank Ltd., Rahuri, Dist. Ahmednagar, Maharashtra to carry on banking business under Section 22 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies). As such, the bank is precluded from transacting the business of 'banking' as defined in Section 5(b) of the Banking Regulation Act,
ਫ਼ਰ 12, 2013
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) Kokan Prant Sahakari Bank Ltd., Mumbai, Maharashtra
It is hereby notified for the information of the public that validity period of directions imposed on Kokan Prant Sahakari Bank Ltd.,Mumbai, Maharashtra vide our directive UBD.CO.BSD-I.No.D-04/12.22.114/2012-13 dated August 06, 2012, has been extended further vide modified directive UBD.CO.BSD I/D-25/12.22.114/2012-13 dated January 28,2013 for a period of six months i.e. from February 07,2013 to August 06,2013 . The other terms and conditions remain unchanged. A copy
It is hereby notified for the information of the public that validity period of directions imposed on Kokan Prant Sahakari Bank Ltd.,Mumbai, Maharashtra vide our directive UBD.CO.BSD-I.No.D-04/12.22.114/2012-13 dated August 06, 2012, has been extended further vide modified directive UBD.CO.BSD I/D-25/12.22.114/2012-13 dated January 28,2013 for a period of six months i.e. from February 07,2013 to August 06,2013 . The other terms and conditions remain unchanged. A copy
ਜਨ 03, 2013
Reserve Bank Cancels the Licence of Swami Samarth Sahakari Bank Ltd., Akkalkot, Solapur, (Maharashtra)
In view of the fact that Swami Samarth Sahakari Bank Ltd., Akkalkot, Solapur, (Maharashtra), had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India [RBI] delivered the order cancelling its licence to the bank and the same is effective from the close of business as on December 28, 2012. The Registrar of Co-oper
In view of the fact that Swami Samarth Sahakari Bank Ltd., Akkalkot, Solapur, (Maharashtra), had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India [RBI] delivered the order cancelling its licence to the bank and the same is effective from the close of business as on December 28, 2012. The Registrar of Co-oper
ਦਸੰ 31, 2012
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) -The Merchants’ Co-operative Bank Ltd., Dist. Dhule
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India has issued certain Directions to The Merchants Co-operative Bank Ltd., Dist. Dhule whereby, as from the close of business on December 13, 2012, the aforesaid bank shall not, without
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India has issued certain Directions to The Merchants Co-operative Bank Ltd., Dist. Dhule whereby, as from the close of business on December 13, 2012, the aforesaid bank shall not, without
ਦਸੰ 19, 2012
Abhyudaya Co-operative Bank Ltd., Mumbai, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees Five Lakh Only) on Abhyudaya Co-operative Bank Ltd., Mumbai, Maharashtra, 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 Cooperative Societies), for violation of instructions / guidelines of the Reserve Bank of India. A special scrutiny conducted in the Vashi branch of the bank to
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees Five Lakh Only) on Abhyudaya Co-operative Bank Ltd., Mumbai, Maharashtra, 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 Cooperative Societies), for violation of instructions / guidelines of the Reserve Bank of India. A special scrutiny conducted in the Vashi branch of the bank to
ਦਸੰ 14, 2012
Sri Potti Sri Ramulu Nellore District Co-operative Central Bank Ltd., Nellore - Penalised
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees Five Lakh only) on Sri Potti Sri Ramulu Nellore District Co-operative Central Bank Ltd., Nellore, Andhra Pradesh, 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-adherence to Know Your Customer (KYC) norms and Anti Money Laundering (AML) guidelines
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees Five Lakh only) on Sri Potti Sri Ramulu Nellore District Co-operative Central Bank Ltd., Nellore, Andhra Pradesh, 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-adherence to Know Your Customer (KYC) norms and Anti Money Laundering (AML) guidelines
ਨਵੰ 30, 2012
The Town Co-operative Bank Ltd., Hoskote, Karnataka - Penalised
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five Lakh only) on The Town Co-operative Bank Ltd., Hoskote, Karnataka, 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 acquiring and using non-banking asset in violation of Sections 6 and 9 of the Banking Regulation Act, 1949 (As Applicable to Co-operative
The Reserve Bank of India has imposed a monetary penalty of `5.00 lakh (Rupees five Lakh only) on The Town Co-operative Bank Ltd., Hoskote, Karnataka, 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 acquiring and using non-banking asset in violation of Sections 6 and 9 of the Banking Regulation Act, 1949 (As Applicable to Co-operative
ਨਵੰ 30, 2012
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad, (Gujarat)
The Reserve Bank of India has issued 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, certain Directions to the Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat), whereby as from the close of business as on April 02, 2012, the aforesaid bank shall not, without prior approval in writing from the Reserve Bank of India, grant or renew any loan
The Reserve Bank of India has issued 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, certain Directions to the Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat), whereby as from the close of business as on April 02, 2012, the aforesaid bank shall not, without prior approval in writing from the Reserve Bank of India, grant or renew any loan
ਨਵੰ 27, 2012
CKP Co-operative Bank Ltd., Mumbai, Maharashtra - Penalised
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five Lakh only) on CKP Co-operative Bank Ltd., Mumbai, Maharashtra , 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 violation of the Reserve Bank of India's directive / guidelines on opening of on-site ATMs, extending finance to borrowers outside area of o
The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five Lakh only) on CKP Co-operative Bank Ltd., Mumbai, Maharashtra , 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 violation of the Reserve Bank of India's directive / guidelines on opening of on-site ATMs, extending finance to borrowers outside area of o
ਨਵੰ 26, 2012
Bharathiya Sahakara Bank Niyamitha, Chamarajanagar, Karnataka - Penalised
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one Lakh only) on Bharathiya Sahakara Bank Niyamitha, Chamarajanagar, Karnataka, 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 violation of the Reserve Bank of India's instructions on Know Your Customer (KYC) guidelines contained in Circular UBD.PCB.Cir.30
The Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one Lakh only) on Bharathiya Sahakara Bank Niyamitha, Chamarajanagar, Karnataka, 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 violation of the Reserve Bank of India's instructions on Know Your Customer (KYC) guidelines contained in Circular UBD.PCB.Cir.30
ਨਵੰ 19, 2012
Reserve Bank Cancels the Licence of Ghaziabad Urban Co-operative Bank Ltd., Ghaziabad (UP)
In view of the fact that Ghaziabad Urban Co-operative Bank Ltd., Ghaziabad (UP) had ceased to be solvent and with all efforts to revive it having failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank on November 16, 2012. The Commissioner of Co-operation and Registrar of Co-operative Societies (RCS),Government of Uttar Pradesh, has also been requested to issue an o
In view of the fact that Ghaziabad Urban Co-operative Bank Ltd., Ghaziabad (UP) had ceased to be solvent and with all efforts to revive it having failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank on November 16, 2012. The Commissioner of Co-operation and Registrar of Co-operative Societies (RCS),Government of Uttar Pradesh, has also been requested to issue an o
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