Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Jun 24, 2016
RBI imposes penalty on The Industrial Cooperative Bank Ltd., Guwahati
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five lakh only) on The Industrial Cooperative Bank Ltd., Guwahati. 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 the provisions of para 4 (i) of circular dated September 18, 2002 on Guidelines on Know Your Customers Norms and Cash Transac
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five lakh only) on The Industrial Cooperative Bank Ltd., Guwahati. 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 the provisions of para 4 (i) of circular dated September 18, 2002 on Guidelines on Know Your Customers Norms and Cash Transac
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Jun 21, 2016
RBI extends validity of the Directions issued to the Pioneer Urban Co-operative Bank Ltd., Lucknow, Uttar Pradesh
The Reserve Bank of India (RBI) has extended the Directions issued to the Pioneer Urban Co-operative Bank Ltd., Lucknow for a further period of three months from June 24, 2016 to September 23, 2016, subject to review. The bank has been under directions since March 24, 2015 vide directive dated March 14, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive was extended vide RBI directive dated September 16, 2
The Reserve Bank of India (RBI) has extended the Directions issued to the Pioneer Urban Co-operative Bank Ltd., Lucknow for a further period of three months from June 24, 2016 to September 23, 2016, subject to review. The bank has been under directions since March 24, 2015 vide directive dated March 14, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive was extended vide RBI directive dated September 16, 2
Jun 21, 2016
The Lunawada Peoples’ Co-operative Bank Ltd., Lunawada, Dist. Mahisagar Imposition of penalty of ₹ 1.00 lakh
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one Lakh only) on The Lunawada Peoples’ Co-operative Bank Ltd., Lunawada, Dist. Mahisagar (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 issuance of Demand Drafts to a single party on the same day in cash for value j
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one Lakh only) on The Lunawada Peoples’ Co-operative Bank Ltd., Lunawada, Dist. Mahisagar (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 issuance of Demand Drafts to a single party on the same day in cash for value j
Jun 15, 2016
RBI issues Directions on Sanmitra Sahakari Bank Maryadit, Mumbai, Maharashtra
The Reserve Bank of India 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 has issued certain Directions to Sanmitra Sahakari Bank Maryadit, Mumbai, Maharashtra, whereby, as from the close of business on June 14, 2016, the aforesaid bank shall not, wit
The Reserve Bank of India 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 has issued certain Directions to Sanmitra Sahakari Bank Maryadit, Mumbai, Maharashtra, whereby, as from the close of business on June 14, 2016, the aforesaid bank shall not, wit
Jun 10, 2016
RBI extends Directions issued to the Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, District - Pune, Maharashtra
Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, District - Pune, Maharashtra was placed under directions for a period of six months vide directive dated September 10, 2014 from the close of business on September 12, 2014. The validity of the aforesaid directive was extended thrice for a period of six months vide directive dated March 04, 2015 from the close of business on March 11, 2015; for a period of three months vide directive dated September 1, 2015
Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, District - Pune, Maharashtra was placed under directions for a period of six months vide directive dated September 10, 2014 from the close of business on September 12, 2014. The validity of the aforesaid directive was extended thrice for a period of six months vide directive dated March 04, 2015 from the close of business on March 11, 2015; for a period of three months vide directive dated September 1, 2015
Jun 08, 2016
RBI shifts Supervision of Some Urban Coop Banks to Nagpur
The Reserve Bank of India has shifted supervision and monitoring of Non-Scheduled Urban Cooperative banks whose head offices are located in Dhule, Nandurbar, Jalgaon and Solapur disctricts from Mumbai to Nagpur with effect from June 07, 2016. The address for correspondence regarding these banks would now be: General ManagerDepartment of Cooperative Bank SupervisionReserve Bank of IndiaAdditional Office BuildingEast High Court RoadNagpur- 440001Phone - 0712 2531225FAX
The Reserve Bank of India has shifted supervision and monitoring of Non-Scheduled Urban Cooperative banks whose head offices are located in Dhule, Nandurbar, Jalgaon and Solapur disctricts from Mumbai to Nagpur with effect from June 07, 2016. The address for correspondence regarding these banks would now be: General ManagerDepartment of Cooperative Bank SupervisionReserve Bank of IndiaAdditional Office BuildingEast High Court RoadNagpur- 440001Phone - 0712 2531225FAX
Jun 07, 2016
RBI imposes penalty on Agroha Co-operative Urban Bank Ltd., Hyderabad, Telangana
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on Agroha Co-operative Urban Bank Ltd., Hyderabad, Telangana 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 directives/guidelines of the Reserve Bank on loans and advances to directors and their relatives. The Reserve Ba
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on Agroha Co-operative Urban Bank Ltd., Hyderabad, Telangana 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 directives/guidelines of the Reserve Bank on loans and advances to directors and their relatives. The Reserve Ba
Jun 07, 2016
RBI imposes penalty on Sri Kalahasti Co-operative Town Bank Ltd., Sri Kalahasti, Andhra Pradesh
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on Sri Kalahasti Co-operative Town Bank Ltd., Sri Kalahasti, 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 Section 20 and Section 20 A of the Banking Regulation Act, 1949 (As Applicable to Co-operative S
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on Sri Kalahasti Co-operative Town Bank Ltd., Sri Kalahasti, 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 Section 20 and Section 20 A of the Banking Regulation Act, 1949 (As Applicable to Co-operative S
Jun 06, 2016
RBI imposes penalty on The Mapusa Urban Co-operative Bank of Goa Ltd, Mapusa, Goa
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh Only) on The Mapusa Urban Co-operative Bank of Goa Ltd, Mapusa, Goa, 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 directions/guidelines issued by the Reserve Bank of India relating to payment of interests on term deposi
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh Only) on The Mapusa Urban Co-operative Bank of Goa Ltd, Mapusa, Goa, 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 directions/guidelines issued by the Reserve Bank of India relating to payment of interests on term deposi
May 30, 2016
RBI extends Directions issued to The Choundeshwari Sahakari Bank Ltd, Ichalkaranji, Kolhapur till November 30, 2016
The Choundeshwari Sahakari Bank Ltd, Ichalkaranji, Kolhapur, was placed under directions for a period of six months vide directive dated August 28, 2014 from the close of business on August 30, 2014. The validity of the directions was extended thrice, vide order dated February 05, 2015 for a period of six months from March 01, 2015; dated July 31, 2015 for a period of three months from September 01, 2015 and dated November 23, 2015 respectively for a period of six mon
The Choundeshwari Sahakari Bank Ltd, Ichalkaranji, Kolhapur, was placed under directions for a period of six months vide directive dated August 28, 2014 from the close of business on August 30, 2014. The validity of the directions was extended thrice, vide order dated February 05, 2015 for a period of six months from March 01, 2015; dated July 31, 2015 for a period of three months from September 01, 2015 and dated November 23, 2015 respectively for a period of six mon
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