Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Apr 13, 2017
RBI extends Directions to Jamkhed Merchants Co-operative Bank Ltd., Ahmednagar, Maharashtra
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 was extended for a period of six months from October 13, 2016 to April 12, 2017 vide directive dated October 06, 2016. The validity of the aforesaid directions has been further extended for a period of two months upto June 12, 2017 dated
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 was extended for a period of six months from October 13, 2016 to April 12, 2017 vide directive dated October 06, 2016. The validity of the aforesaid directions has been further extended for a period of two months upto June 12, 2017 dated
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Apr 03, 2017
RBI extends Directions issued to Gokul Co-operative Urban Bank Ltd., Secunderabad
The Reserve Bank of India, in exercise of the powers vested in it under Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) has directed that the Directives issued to Gokul Co-operative Urban Bank Ltd., Secunderabad from the close of business on April 04, 2017 shall continue to apply to the bank for a further period upto June 30, 2017 subject to review. Other terms and conditions of the Directive under reference shall remain uncha
The Reserve Bank of India, in exercise of the powers vested in it under Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) has directed that the Directives issued to Gokul Co-operative Urban Bank Ltd., Secunderabad from the close of business on April 04, 2017 shall continue to apply to the bank for a further period upto June 30, 2017 subject to review. Other terms and conditions of the Directive under reference shall remain uncha
Apr 03, 2017
RBI cancels the licence of The Mercantile Urban Co-operative Bank Ltd., Meerut, Uttar Pradesh
It is hereby notified for the information of the public that the Reserve Bank of India (RBI) has cancelled vide order dated March 30, 2017, the licence of The Mercantile Urban Co-operative Bank Ltd., Meerut, to carry on banking business under section 22 of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949. As such, the bank is precluded from transacting the business of ‘banking’ as defin
It is hereby notified for the information of the public that the Reserve Bank of India (RBI) has cancelled vide order dated March 30, 2017, the licence of The Mercantile Urban Co-operative Bank Ltd., Meerut, to carry on banking business under section 22 of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949. As such, the bank is precluded from transacting the business of ‘banking’ as defin
Mar 31, 2017
RBI issues Directions to The Kapol Co-operative Bank Ltd., Mumbai
The Reserve Bank of India (vide directive DCBS.CO.BSD-I/D-09/12.22.111/2016-17 dated March 30, 2017) has placed The Kapol Co-operative Bank Ltd., Mumbai Maharashtra, under Directions. According to the Directions, depositors will be allowed to withdraw a sum not exceeding ₹ 3000 (Rupees Three Thousand only) of the total balance held in every saving bank or current account or any other deposit account by whatever name called, subject to conditions stipulated in the RBI
The Reserve Bank of India (vide directive DCBS.CO.BSD-I/D-09/12.22.111/2016-17 dated March 30, 2017) has placed The Kapol Co-operative Bank Ltd., Mumbai Maharashtra, under Directions. According to the Directions, depositors will be allowed to withdraw a sum not exceeding ₹ 3000 (Rupees Three Thousand only) of the total balance held in every saving bank or current account or any other deposit account by whatever name called, subject to conditions stipulated in the RBI
Mar 30, 2017
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Shree Ganesh Sahakari Bank Ltd., Nashik, Maharashtra
Shree Ganesh Sahakari Bank Ltd., dated April 01, 2013 Nashik, Maharashtra, was placed under directions for a period of six months vide directive under Section 35A of the Banking Regulation, Act 1949 (AACS). The validity of the directions was extended seven times for a period of six months each time vide our directives dated September 23, 2013, March 27, 2014, September 17, 2014, March 19, 2015, September 15, 2015, March 11, 2016 and September 26, 2016 respectively. Fu
Shree Ganesh Sahakari Bank Ltd., dated April 01, 2013 Nashik, Maharashtra, was placed under directions for a period of six months vide directive under Section 35A of the Banking Regulation, Act 1949 (AACS). The validity of the directions was extended seven times for a period of six months each time vide our directives dated September 23, 2013, March 27, 2014, September 17, 2014, March 19, 2015, September 15, 2015, March 11, 2016 and September 26, 2016 respectively. Fu
Mar 30, 2017
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra
The Ajinkyatara Sahakari Bank Ltd, Satara, Maharashtra, was placed under directions vide directive dated September 28, 2015, from close of business on September 30, 2015. The validity of the directions was extended from time to time vide subsequent directives last being dated September 28, 2016 which was valid upto March 30, 2017 subject to review. The public is hereby advised that the Directives so issued to Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra on Sept
The Ajinkyatara Sahakari Bank Ltd, Satara, Maharashtra, was placed under directions vide directive dated September 28, 2015, from close of business on September 30, 2015. The validity of the directions was extended from time to time vide subsequent directives last being dated September 28, 2016 which was valid upto March 30, 2017 subject to review. The public is hereby advised that the Directives so issued to Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra on Sept
Mar 29, 2017
Pragathi Cooperative Bank Ltd., Bengaluru, Karnataka - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 50,000/- (Rupees Fifty Thousand only) on Pragathi Cooperative Bank Ltd.,Bengaluru, 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 in respect of Housing, Real Estate and Commercial Real Estate secto
The Reserve Bank of India has imposed a monetary penalty of ₹ 50,000/- (Rupees Fifty Thousand only) on Pragathi Cooperative Bank Ltd.,Bengaluru, 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 in respect of Housing, Real Estate and Commercial Real Estate secto
Mar 26, 2017
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - The R S Co-operative Bank Ltd., Mumbai, Maharashtra
The R S Co-operative Bank Ltd. Mumbai, Maharashtra, was placed under directions vide directive dated June 24, 2015, from close of business on June 26, 2015. The validity of the directions was extended and modified from time to time vide subsequent Directives, the last being dated January 31, 2017 and was valid upto March 25, 2017 subject to review. The public is hereby advised that the Directive so issued to R S Co-operative Bank Ltd., Mumbai, Maharashtra dated June 2
The R S Co-operative Bank Ltd. Mumbai, Maharashtra, was placed under directions vide directive dated June 24, 2015, from close of business on June 26, 2015. The validity of the directions was extended and modified from time to time vide subsequent Directives, the last being dated January 31, 2017 and was valid upto March 25, 2017 subject to review. The public is hereby advised that the Directive so issued to R S Co-operative Bank Ltd., Mumbai, Maharashtra dated June 2
Mar 21, 2017
RBI imposes penalty on Harihareshwar Sahakari Bank Ltd., Wai, Dist: Satara
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakhs only) on Harihareshwar Sahakari Bank Ltd., Wai, Dist: Satara 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 violation of the provisions contained in Section 20 of BR Act, 1949 (AACS) relating to granting loans against property owned by di
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakhs only) on Harihareshwar Sahakari Bank Ltd., Wai, Dist: Satara 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 violation of the provisions contained in Section 20 of BR Act, 1949 (AACS) relating to granting loans against property owned by di
Mar 16, 2017
RBI imposes penalty on Transport Cooperative Bank Ltd Indore
The Reserve Bank of India has imposed a monetary penalty of ₹ 5 lakh (rupees Five lakh) on Transport Cooperative Bank Ltd, Indore 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 the directives/guidelines of the Reserve Bank on loan exposure norms, KYC norms and compliance to RBI Inspection Report. The Reserve Bank of Indi
The Reserve Bank of India has imposed a monetary penalty of ₹ 5 lakh (rupees Five lakh) on Transport Cooperative Bank Ltd, Indore 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 the directives/guidelines of the Reserve Bank on loan exposure norms, KYC norms and compliance to RBI Inspection Report. The Reserve Bank of Indi
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