Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Nov 20, 2016
RBI extends Directions issued to the Lokseva Sahakari Bank Ltd., Pune, Maharashtra
The Reserve Bank of India, notified that Lokseva Sahakari Bank Ltd., Pune, was placed under directions for a period of six months vide directive dated May 19, 2014, from the close of business on May 20, 2014. The validity of the directions was extended four times, for a period of six months each, vide order dated November 12, 2014; dated May 06, 2015; dated November 04, 2015 and dated May 13, 2016. It is hereby notified for the information of the public that the perio
The Reserve Bank of India, notified that Lokseva Sahakari Bank Ltd., Pune, was placed under directions for a period of six months vide directive dated May 19, 2014, from the close of business on May 20, 2014. The validity of the directions was extended four times, for a period of six months each, vide order dated November 12, 2014; dated May 06, 2015; dated November 04, 2015 and dated May 13, 2016. It is hereby notified for the information of the public that the perio
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Nov 17, 2016
RBI cancels Licence of Sai Nagari Sahakari Bank Limited, Hadgaon
The Reserve Bank of India has cancelled the licence issued to Sai Nagari Sahakari Bank Limited, Hadgaon, consequent upon its merger with Shankar Nagari Sahakari Bank Limited, Nanded with effect from August 26, 2016. The Reserve Bank has done this under Section 22 of Banking Regulation Act, 1949 (As Applicable to Cooperative Societies) (ACCS). Anirudha D. Jadhav Assistant Manager Press Release : 2016-2017/1241
The Reserve Bank of India has cancelled the licence issued to Sai Nagari Sahakari Bank Limited, Hadgaon, consequent upon its merger with Shankar Nagari Sahakari Bank Limited, Nanded with effect from August 26, 2016. The Reserve Bank has done this under Section 22 of Banking Regulation Act, 1949 (As Applicable to Cooperative Societies) (ACCS). Anirudha D. Jadhav Assistant Manager Press Release : 2016-2017/1241
Nov 15, 2016
Withdrawal of Legal Tender Character of Specified Bank Notes: RBI asks Cooperative Banks to ensure Strict Compliance to its Instructions
There were reports that some cooperative banks were not strictly adhering to the instructions issued in connection with the withdrawal of legal tender status of the existing ₹ 500 and ₹ 1000 bank notes (specified bank notes). The Reserve Bank of India today informed that it has advised the Urban Cooperative Banks through its Regional Offices and the State Cooperative Banks through National Bank for Agricultural and Rural Development (NABARD) of the need to ensure stri
There were reports that some cooperative banks were not strictly adhering to the instructions issued in connection with the withdrawal of legal tender status of the existing ₹ 500 and ₹ 1000 bank notes (specified bank notes). The Reserve Bank of India today informed that it has advised the Urban Cooperative Banks through its Regional Offices and the State Cooperative Banks through National Bank for Agricultural and Rural Development (NABARD) of the need to ensure stri
Nov 14, 2016
DCCBs can allow existing customers to withdraw upto ₹ 24,000 from their accounts : RBI
The Reserve Bank of India has today clarified that District Central Cooperative Banks (DCCBs) can allow their existing customers to withdraw money from their accounts upto ₹ 24,000 per week upto November 24, 2016. However, no exchange facility against the specified bank notes (₹ 500 and ₹ 1000) or deposit of such notes should be entertained by them. The Reserve Bank has accordingly advised all banks to permit withdrawal of cash by DCCBs from their accounts based on ne
The Reserve Bank of India has today clarified that District Central Cooperative Banks (DCCBs) can allow their existing customers to withdraw money from their accounts upto ₹ 24,000 per week upto November 24, 2016. However, no exchange facility against the specified bank notes (₹ 500 and ₹ 1000) or deposit of such notes should be entertained by them. The Reserve Bank has accordingly advised all banks to permit withdrawal of cash by DCCBs from their accounts based on ne
Oct 28, 2016
RBI imposes penalty on The Devi Gayatri 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 The Devi Gayatri 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 Reserve Bank of India directives and guidelines on loans and advances to directors and their relatives
The Reserve Bank of India has imposed a monetary penalty of ₹1.00 lakh (Rupees one lakh only) on The Devi Gayatri 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 Reserve Bank of India directives and guidelines on loans and advances to directors and their relatives
Oct 19, 2016
RBI imposes penalty on The Tumkur Veerashaiva Co-operative Bank Ltd.,Tumkur, Karnataka
The Reserve Bank of India has imposed a monetary penalty of ₹ 10.00 lakh (Rupees Ten lakh only) on Tumkur Veerashaiva Cooperative Bank Ltd., Tumkur, 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 contained in circular dated April 11, 2005 prohibiting payment
The Reserve Bank of India has imposed a monetary penalty of ₹ 10.00 lakh (Rupees Ten lakh only) on Tumkur Veerashaiva Cooperative Bank Ltd., Tumkur, 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 contained in circular dated April 11, 2005 prohibiting payment
Oct 14, 2016
RBI issues Directions to United India Co-operative Bank Ltd., Nagina, Bijnor, Uttar Pradesh - Withdrawal of Directions
The Reserve Bank of India (RBI) had issued directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) to United India Co-operative Bank Ltd., Nagina, Bijnor, Uttar Pradesh vide directive dated July 08, 2015. The Directions were extended from time to time and the last such Directive dated March 30, 2016, are currently valid upto October 14, 2016. Reserve Bank, on being satisfied that in the public interest it is necessary to do so, in
The Reserve Bank of India (RBI) had issued directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS) to United India Co-operative Bank Ltd., Nagina, Bijnor, Uttar Pradesh vide directive dated July 08, 2015. The Directions were extended from time to time and the last such Directive dated March 30, 2016, are currently valid upto October 14, 2016. Reserve Bank, on being satisfied that in the public interest it is necessary to do so, in
Oct 14, 2016
RBI extends validity of Directions issued to the HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh till April 15, 2017
The Reserve Bank of India has extended directions issued to the HCBL Co-operative Bank Ltd., Lucknow for a further period of six months from October 16, 2016 to April 15, 2017, subject to review. The bank had been under directions since the close of business on April 16, 2015 vide directive dated April 10, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified and its validity extended upto October 15, 2016. The
The Reserve Bank of India has extended directions issued to the HCBL Co-operative Bank Ltd., Lucknow for a further period of six months from October 16, 2016 to April 15, 2017, subject to review. The bank had been under directions since the close of business on April 16, 2015 vide directive dated April 10, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified and its validity extended upto October 15, 2016. The
Oct 13, 2016
RBI extend Directions Jamkhed Merchants Co-operative Bank Ltd., Jamkhed, Ahmednagar, Maharashtra
The Reserve Bank of India, notified that 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 is extended for a period of six months from October 13, 2016 to April 12, 2017 vide directive dated October 06, 2016, subject to review. Reserve Bank of India, in exercise of the powers vested in
The Reserve Bank of India, notified that 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 is extended for a period of six months from October 13, 2016 to April 12, 2017 vide directive dated October 06, 2016, subject to review. Reserve Bank of India, in exercise of the powers vested in
Oct 05, 2016
RBI extend Directions Gokul Co-operative Urban Bank Ltd., Secunderabad till April 04, 2017
The Reserve Bank of India is satisfied that in the interest of the public, it is necessary to extend the validity of the Directives issued to Gokul Co-operative Urban Bank Ltd., Secunderabad, for a further period of six months. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) has directed that the Directives issued to Gokul C
The Reserve Bank of India is satisfied that in the interest of the public, it is necessary to extend the validity of the Directives issued to Gokul Co-operative Urban Bank Ltd., Secunderabad, for a further period of six months. Accordingly, the Reserve Bank of India, in exercise of the powers vested in it under sub-section (1) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) has directed that the Directives issued to Gokul C
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