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Press Releases
Sep 22, 2017
Durga Co-operative Urban Bank Ltd., Vijaywada, Andhra Pradesh - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five lakh only) on Durga Co-operative Urban Bank Ltd., Vijaywada, 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 violation of Reserve Bank of India directives and guidelines on loans and advances to directors and their relatives. The
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five lakh only) on Durga Co-operative Urban Bank Ltd., Vijaywada, 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 violation of Reserve Bank of India directives and guidelines on loans and advances to directors and their relatives. The
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Sep 21, 2017
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Nashik Zilla Girna Sahakari Bank Ltd., Nashik, Maharashtra
Nashik Zilla Girna Sahakari Bank Ltd., Nashik, Maharashtra, was placed under directions for a period of six months from the close of business on September 9, 2015 vide directive dated September 8, 2015. The validity of the directions was extended vide modified directives dated March 03, 2016, August 25, 2016 and March 07, 2017 for a period of six months every time. It is hereby notified for the information of the public that the period of operation of the directive da
Nashik Zilla Girna Sahakari Bank Ltd., Nashik, Maharashtra, was placed under directions for a period of six months from the close of business on September 9, 2015 vide directive dated September 8, 2015. The validity of the directions was extended vide modified directives dated March 03, 2016, August 25, 2016 and March 07, 2017 for a period of six months every time. It is hereby notified for the information of the public that the period of operation of the directive da
Sep 18, 2017
Reserve Bank of India cancels the Licence of the Lokseva Sahakari Bank Ltd., Pune, Maharashtra
The Reserve Bank of India (RBI) has, vide order dated September 14, 2017 cancelled the licence of Lokseva Sahakari Bank Ltd., Pune, Maharashtra to carry on banking business, with effect from the close of business on September 18, 2017. The Registrar of Co-operative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appointing a liquidator for the bank. The Reserve Bank cancelled the licence of the bank as: The bank does not ha
The Reserve Bank of India (RBI) has, vide order dated September 14, 2017 cancelled the licence of Lokseva Sahakari Bank Ltd., Pune, Maharashtra to carry on banking business, with effect from the close of business on September 18, 2017. The Registrar of Co-operative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appointing a liquidator for the bank. The Reserve Bank cancelled the licence of the bank as: The bank does not ha
Sep 13, 2017
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Sanmitra Sahakari Bank Maryadit, Mumbai, Maharashtra
Sanmitra Sahakari Bank Maryadit, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated June 14, 2016 from the close of business on June 14, 2016. The validity of the directions was extended vide directive dated December 07, 2016 and June 08, 2017 for a period of six months and three months respectively. It is hereby notified for the information of the public that the period of operation of the directive dated June 14, 2016 re
Sanmitra Sahakari Bank Maryadit, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated June 14, 2016 from the close of business on June 14, 2016. The validity of the directions was extended vide directive dated December 07, 2016 and June 08, 2017 for a period of six months and three months respectively. It is hereby notified for the information of the public that the period of operation of the directive dated June 14, 2016 re
Sep 12, 2017
U.P. Civil Secretariat Primary Co-operative Bank Ltd., Lucknow (Uttar Pradesh) - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹5,00,000/- (rupees five lakh only) on U.P. Civil Secretariat Primary Co-operative Bank Ltd., Lucknow in exercise of powers vested in it under the provisions of Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for continuous non-submission of the returns u/s 27 of the Act ibid and unreasonable delay in submission of compliance to deficien
The Reserve Bank of India has imposed a monetary penalty of ₹5,00,000/- (rupees five lakh only) on U.P. Civil Secretariat Primary Co-operative Bank Ltd., Lucknow in exercise of powers vested in it under the provisions of Section 47A(1)(c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for continuous non-submission of the returns u/s 27 of the Act ibid and unreasonable delay in submission of compliance to deficien
Sep 10, 2017
RBI says it uses sophisticated machines for processing currency notes
It has been reported in a section of the press, quoting a reply to RTI application, that RBI was not using machines for counting Specified Bank Notes (SBNs). RBI actually uses sophisticated Currency Verification & Processing (CVPS) machines for checking the numerical accuracy and genuineness of the currency notes, including SBNs. These machines are way superior to the note counting machines. With a view to augmenting processing capacity, RBI is using the available
It has been reported in a section of the press, quoting a reply to RTI application, that RBI was not using machines for counting Specified Bank Notes (SBNs). RBI actually uses sophisticated Currency Verification & Processing (CVPS) machines for checking the numerical accuracy and genuineness of the currency notes, including SBNs. These machines are way superior to the note counting machines. With a view to augmenting processing capacity, RBI is using the available
Sep 08, 2017
RBI extends validity of the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh
The Reserve Bank of India (RBI) has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from September 12, 2017 to March 11, 2018, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified / its validity was extended vide RBI
The Reserve Bank of India (RBI) has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from September 12, 2017 to March 11, 2018, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified / its validity was extended vide RBI
Sep 08, 2017
RBI extends Directions to The Vaish Co-operative Commercial Bank Ltd., New Delhi till January 08, 2018
The Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), hereby directs that the Directive dated August 28, 2015 issued to The Vaish Co-operative Commercial Bank Ltd., New Delhi, as modified from time to time, the validity of which was extended upto September 08, 2017, shall continue to apply to the bank for a further period of
The Reserve Bank of India, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), hereby directs that the Directive dated August 28, 2015 issued to The Vaish Co-operative Commercial Bank Ltd., New Delhi, as modified from time to time, the validity of which was extended upto September 08, 2017, shall continue to apply to the bank for a further period of
Sep 07, 2017
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 Alwar Urban Co-operative Bank Ltd., Alwar (Rajasthan)
It is hereby notified for the information of the public that 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, the Reserve Bank of India (RBI) is satisfied that in public interest it is necessary to extend the period of operation of Directions issued to Alwar Urban Co-operative Bank Ltd., Alwar (Rajasthan). The directive dated March 01, 2017 shall continue to apply to the bank for a furth
It is hereby notified for the information of the public that 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, the Reserve Bank of India (RBI) is satisfied that in public interest it is necessary to extend the period of operation of Directions issued to Alwar Urban Co-operative Bank Ltd., Alwar (Rajasthan). The directive dated March 01, 2017 shall continue to apply to the bank for a furth
Sep 07, 2017
Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 Bhilwara Mahila Urban Co-operative Bank Ltd., Bhilwara (Rajasthan)
It is hereby notified for the information of the public that 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, the Reserve Bank of India (RBI) is satisfied that in public interest it is necessary to extend the period of operation of Directions issued to Bhilwara Mahila Urban Co-operative Bank Ltd., Bhilwara (Rajasthan). The directive dated March 07, 2017, effective from March 9, 2017, sha
It is hereby notified for the information of the public that 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, the Reserve Bank of India (RBI) is satisfied that in public interest it is necessary to extend the period of operation of Directions issued to Bhilwara Mahila Urban Co-operative Bank Ltd., Bhilwara (Rajasthan). The directive dated March 07, 2017, effective from March 9, 2017, sha
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