Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Jul 26, 2016
2 NBFCs surrender their Certificate of Registration to RBI
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1. M/s Fedder Tieup Private Limited (Presently Savi Media World Limited) 10B, Sikdar
The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration. Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date 1. M/s Fedder Tieup Private Limited (Presently Savi Media World Limited) 10B, Sikdar
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Jul 26, 2016
RBI cancels Licence of Pioneer Urban Co-operative Bank Ltd., Lucknow
The Reserve Bank of India has, on July 15, 2016, cancelled the licence of Pioneer Urban Co-operative Bank Ltd., Lucknow, Uttar Pradesh to carry on banking business. As such, the bank cannot transact the business of 'banking' as defined in Section 5(b) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), including acceptance/repayment of deposits. The licence was cancelled under Section 22 of the Banking Regulation Act, 1949 (As Applicable to
The Reserve Bank of India has, on July 15, 2016, cancelled the licence of Pioneer Urban Co-operative Bank Ltd., Lucknow, Uttar Pradesh to carry on banking business. As such, the bank cannot transact the business of 'banking' as defined in Section 5(b) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), including acceptance/repayment of deposits. The licence was cancelled under Section 22 of the Banking Regulation Act, 1949 (As Applicable to
Jul 22, 2016
RBI imposes penalty on Sardar Bhiladwala Pardi People’s Co-operative Bank Ltd., Killa Pardi, Dist. Valsad (Scheduled UCB) (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on Sardar Bhiladwala Pardi People’s Co-operative Bank Ltd., Killa Pardi, Dist. Valsad (Scheduled UCB) (Gujarat), in exercise of the powers vested in it under the provisions of Section 47A (1) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of RBI guidelines pertaining to loans beyond the ceiling of ₹ 1.00
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on Sardar Bhiladwala Pardi People’s Co-operative Bank Ltd., Killa Pardi, Dist. Valsad (Scheduled UCB) (Gujarat), in exercise of the powers vested in it under the provisions of Section 47A (1) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of RBI guidelines pertaining to loans beyond the ceiling of ₹ 1.00
Jul 22, 2016
RBI issues Directions on Shree Ganesh Sahakari Bank Ltd., Nashik, Maharashtra - Relaxation in payment of deposit
The Reserve Bank of India notified that Shree Ganesh Sahakari Bank Ltd., Nashik, was placed under directions for a period of six months vide directive dated April 01, 2013. The validity of the directions was extended from time to time and are valid upto September 29, 2016. In terms of the existing directions a sum not exceeding ₹ 1,000/- of the total balance in every savings bank or current account or any other deposit account by whatever name called was allowed to be
The Reserve Bank of India notified that Shree Ganesh Sahakari Bank Ltd., Nashik, was placed under directions for a period of six months vide directive dated April 01, 2013. The validity of the directions was extended from time to time and are valid upto September 29, 2016. In terms of the existing directions a sum not exceeding ₹ 1,000/- of the total balance in every savings bank or current account or any other deposit account by whatever name called was allowed to be
Jul 20, 2016
RBI imposes penalty on Sanmitra Sahakari Bank Maryadit, Mumbai
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on Sanmitra Sahakari Bank Maryadit, Mumbai 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 instructions / guidelines of the Reserve Bank of India relating to single borrower exposure limit, unsecured individual borrower
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on Sanmitra Sahakari Bank Maryadit, Mumbai 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 instructions / guidelines of the Reserve Bank of India relating to single borrower exposure limit, unsecured individual borrower
Jul 18, 2016
RBI imposes penalty on Baidyabati-Sheoraphuli Co-operative Bank Ltd., Dist - Hooghly, West Bengal
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on Baidyabati-Sheoraphuli Co-operative Bank Ltd., Dist- Hooghly, West Bengal, Pin-712223, 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 extant guideline on limit of Non-SLR investment, individual and group exposure ceilings for
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on Baidyabati-Sheoraphuli Co-operative Bank Ltd., Dist- Hooghly, West Bengal, Pin-712223, 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 extant guideline on limit of Non-SLR investment, individual and group exposure ceilings for
Jul 15, 2016
The Bodeli Urban Co-operative Bank Ltd., Bodeli, Dist. Chhota Udepur (Gujarat) - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹1.00 lakh (Rupees one Lakh) on The Bodeli Urban Co-operative Bank Ltd., Bodeli, Dist. Chhota Udepur (Gujarat), in exercise of the 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 violations of RBI guidelines for ceiling on unsecured advances, credit sanction, KYC/AML guidelines regarding i
The Reserve Bank of India has imposed a monetary penalty of ₹1.00 lakh (Rupees one Lakh) on The Bodeli Urban Co-operative Bank Ltd., Bodeli, Dist. Chhota Udepur (Gujarat), in exercise of the 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 violations of RBI guidelines for ceiling on unsecured advances, credit sanction, KYC/AML guidelines regarding i
Jul 14, 2016
RBI imposes penalty on The Yashwant Co-operative Bank Limited, Phaltan, Maharashtra
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Yashwant Co-operative Bank Limited, Phaltan, 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 Co-operative Societies), for violation of provisions of Banking Regulation Act, 1949 (AACS), directions/instructions/guidelines issued by the Reserve Bank
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Yashwant Co-operative Bank Limited, Phaltan, 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 Co-operative Societies), for violation of provisions of Banking Regulation Act, 1949 (AACS), directions/instructions/guidelines issued by the Reserve Bank
Jul 14, 2016
RBI imposes penalty on Shri Laxmi Co-operative Bank Ltd., Pune
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one Lakh only) on Shri Laxmi Co-operative Bank Ltd. Pune 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 provision of B.R.Act, 1949 (AACS) by submitting false compliance to RBI Inspection Report 2012-2013. The Reserve Bank of India had is
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one Lakh only) on Shri Laxmi Co-operative Bank Ltd. Pune 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 provision of B.R.Act, 1949 (AACS) by submitting false compliance to RBI Inspection Report 2012-2013. The Reserve Bank of India had is
Jul 13, 2016
RBI extends Directions on The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal
The Reserve Bank of India has extended directions issued to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal. The directions will continue to apply to the bank for a further period of six months from July 07, 2016 to January 06, 2017, subject to review. The Reserve Bank had initially placed the bank under directions for six months w.e.f April 07, 2014 due to its very precarious financial position and the validity of which was subsequently extended on
The Reserve Bank of India has extended directions issued to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal. The directions will continue to apply to the bank for a further period of six months from July 07, 2016 to January 06, 2017, subject to review. The Reserve Bank had initially placed the bank under directions for six months w.e.f April 07, 2014 due to its very precarious financial position and the validity of which was subsequently extended on
Jul 13, 2016
RBI extends Directions issued to the Amanath Co-operative Bank Ltd., Bengaluru
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 Amanath Co-operative Bank Ltd., Bengaluru whereby, as from the close of business on April 05, 2013, the aforesaid bank shall not, without prior
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 Amanath Co-operative Bank Ltd., Bengaluru whereby, as from the close of business on April 05, 2013, the aforesaid bank shall not, without prior
Jul 12, 2016
RBI imposes penalty on Shri Anand Co-operative Bank Ltd, Pune
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one Lakh only) on Shri Anand Co-operative Bank Ltd. Pune 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 Instructions / Guidelines of the Reserve Bank of India relating to group borrower limit The Reserve Bank of India had issued a sh
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one Lakh only) on Shri Anand Co-operative Bank Ltd. Pune 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 Instructions / Guidelines of the Reserve Bank of India relating to group borrower limit The Reserve Bank of India had issued a sh
Jul 11, 2016
RBI imposes penalty on The Prathamik Shikshak Sahakari Bank Limited Kolhapur
The Reserve Bank of India has imposed a monetary penalty of ₹ 10.00 lakh (Rupees Ten lakh only) on The Prathamik Shikshak Sahakari Bank Ltd., Kolhapur (Salary Earners’ Bank), in exercise of the powers vested in it under the provision 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 operational instructions relating to declaration and payment of dividend for the financial year
The Reserve Bank of India has imposed a monetary penalty of ₹ 10.00 lakh (Rupees Ten lakh only) on The Prathamik Shikshak Sahakari Bank Ltd., Kolhapur (Salary Earners’ Bank), in exercise of the powers vested in it under the provision 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 operational instructions relating to declaration and payment of dividend for the financial year
Jul 05, 2016
RBI extends Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh till January 06, 2017
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of six months from July 07, 2016 to January 06, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto July 06, 2016. The same has further been extended upto January 06, 20
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of six months from July 07, 2016 to January 06, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto July 06, 2016. The same has further been extended upto January 06, 20
Jul 04, 2016
Cancellation of licence of Jijamata Mahila Sahakari Bank Limited, Satara, Maharashtra to carry on banking business
It is hereby notified for the information of the public that the Reserve Bank of India has, vide its order dated June 30, 2016, cancelled the licence of Jijamata Mahila Sahakari Bank Limited, Satara, Maharashtra 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 Banking Regulation Act, 1949. As such, the bank is forthwith precluded from transacting the business of 'banking
It is hereby notified for the information of the public that the Reserve Bank of India has, vide its order dated June 30, 2016, cancelled the licence of Jijamata Mahila Sahakari Bank Limited, Satara, Maharashtra 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 Banking Regulation Act, 1949. As such, the bank is forthwith precluded from transacting the business of 'banking
Jul 01, 2016
RBI imposes Monetary Penalty on Shri Anand Nagari Sahakari Bank Ltd., Chandrapur (Maharashtra)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on Shri Anand Nagari Sahakari Bank Ltd., Chandrapur, 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 various norms and RBI instructions. The Reserve Bank of India had issued a show cause notice to the bank, in response to whic
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on Shri Anand Nagari Sahakari Bank Ltd., Chandrapur, 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 various norms and RBI instructions. The Reserve Bank of India had issued a show cause notice to the bank, in response to whic
Jul 01, 2016
RBI extends Directions issued to Shri Sai Urban Co-operative Bank Ltd., Mukhed Dist. Nanded, Maharashtra till September 30, 2016
The Reserve Bank of India has extended Directions issued to Shri Sai Urban Co-operative Bank Ltd., Mukhed, Dist. Nanded (Mahrashtra) for a further period of three months from the close of business as on June 30, 2016 to September 30, 2016, subject to review. The bank was under directions since July 01, 2015. The directions were earlier extended for six month on one occasion. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section
The Reserve Bank of India has extended Directions issued to Shri Sai Urban Co-operative Bank Ltd., Mukhed, Dist. Nanded (Mahrashtra) for a further period of three months from the close of business as on June 30, 2016 to September 30, 2016, subject to review. The bank was under directions since July 01, 2015. The directions were earlier extended for six month on one occasion. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section
Jun 30, 2016
Pricing of credit by NBFC-MFIs- applicable average base rate for the quarter beginning July 01, 2016
It was communicated by Reserve Bank in its circular dated February 7, 2014 issued to NBFC-MFIs regarding pricing of credit, that the average of the base rates of the five largest commercial banks shall be advised by the Bank on the last working day of every quarter, for the purpose of arriving at the interest rates to be charged by an NBFC-MFI to its borrowers in the ensuing quarter. It is hereby brought to the notice of all concerned including the NBFC-MFIs that the
It was communicated by Reserve Bank in its circular dated February 7, 2014 issued to NBFC-MFIs regarding pricing of credit, that the average of the base rates of the five largest commercial banks shall be advised by the Bank on the last working day of every quarter, for the purpose of arriving at the interest rates to be charged by an NBFC-MFI to its borrowers in the ensuing quarter. It is hereby brought to the notice of all concerned including the NBFC-MFIs that the
Jun 24, 2016
RBI issues Directions on The R S Co-operative Bank Ltd., Mumbai, Maharashtra
The R S Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated June 24, 2015 from the close of business on June 26, 2015. The validity of the directions was extended, vide order dated December 21, 2015 for a period of six months. The validity of the directions has been extended for a further period of three months from June 26, 2016 to September 25, 2016 vide our modified directive dated June 22, 2016 su
The R S Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated June 24, 2015 from the close of business on June 26, 2015. The validity of the directions was extended, vide order dated December 21, 2015 for a period of six months. The validity of the directions has been extended for a further period of three months from June 26, 2016 to September 25, 2016 vide our modified directive dated June 22, 2016 su
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
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
May 26, 2016
RBI imposes penalty on Birdev Sahakari Bank Ltd, Ichalkaranji, Kolhapur
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees five lakh only) on Birdev Sahakari Bank Ltd, Ichalkaranji, Kolhapur 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 (AACS), for violations of the directives / guidelines of the Reserve Bank of India relating to interbank (gross) exposure limit, interbank counter party limit, unsecured advances limi
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees five lakh only) on Birdev Sahakari Bank Ltd, Ichalkaranji, Kolhapur 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 (AACS), for violations of the directives / guidelines of the Reserve Bank of India relating to interbank (gross) exposure limit, interbank counter party limit, unsecured advances limi
May 19, 2016
RBI extends Directions issued to Lokseva Sahakari Bank Ltd., Pune, Maharashtra till November 19, 2016
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 thrice, for a period of six months each, vide order dated November 12, 2014; dated May 06, 2015 and dated November 04, 2015. It is hereby notified for the information of the public that the period of operation of the dir
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 thrice, for a period of six months each, vide order dated November 12, 2014; dated May 06, 2015 and dated November 04, 2015. It is hereby notified for the information of the public that the period of operation of the dir
May 16, 2016
RBI extends Directions issued to Shatabdi Mahila Sahakari Bank Ltd., Thane, District-Thane, Maharashtra till November 17, 2016
The Reserve Bank of India notified that the Shatabdi Mahila Sahakari Bank Ltd., Thane was placed under directions for a period of six months vide directive dated August 14, 2014 from the close of business on August 20, 2014. The validity of the aforesaid directive was further extended vide directive dated February 04, 2015; dated July 21, 2015 and dated November 04, 2015 for a period of six months, three months and six months respectively. It is hereby notified for th
The Reserve Bank of India notified that the Shatabdi Mahila Sahakari Bank Ltd., Thane was placed under directions for a period of six months vide directive dated August 14, 2014 from the close of business on August 20, 2014. The validity of the aforesaid directive was further extended vide directive dated February 04, 2015; dated July 21, 2015 and dated November 04, 2015 for a period of six months, three months and six months respectively. It is hereby notified for th
May 12, 2016
Comprehensive Master Directions on Interest Rate on Deposits for Co-operative Banks
The Reserve Bank of India today issued the Master Directions (MD) on Co-operative Banks - Interest Rates on Deposits and Advances. The Master Directions issued today consolidates all relevant instructions issued by the Reserve Bank of India so far on the subject and will be applicable to all co-operative banks, namely, state co-operative banks, central co-operative banks and primary (urban) co-operative banks, licensed or permitted to carry on banking business in Indi
The Reserve Bank of India today issued the Master Directions (MD) on Co-operative Banks - Interest Rates on Deposits and Advances. The Master Directions issued today consolidates all relevant instructions issued by the Reserve Bank of India so far on the subject and will be applicable to all co-operative banks, namely, state co-operative banks, central co-operative banks and primary (urban) co-operative banks, licensed or permitted to carry on banking business in Indi
May 12, 2016
RBI imposes penalty on Jalgaon District Co-operative Bank Ltd., Jalgaon, Maharashtra
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (₹ Two Lakh only) on Jalgaon District Co-operative Bank Ltd. 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 Section 20 A of the B.R. Act, 1949 (AACS) relating to remission of debt due to the bank by Jalgaon Starch Factory in whic
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (₹ Two Lakh only) on Jalgaon District Co-operative Bank Ltd. 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 Section 20 A of the B.R. Act, 1949 (AACS) relating to remission of debt due to the bank by Jalgaon Starch Factory in whic
May 06, 2016
RBI extends validity of the Directions issued to the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.)
The Reserve Bank of India has extended the Directions issued to the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.) for a further period of six months from May 01, 2016 to October 31, 2016, subject to review. The bank has been under directions from close of business of October 31, 2012 vide directive dated October 29, 2012 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive has been extended from time to time fo
The Reserve Bank of India has extended the Directions issued to the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.) for a further period of six months from May 01, 2016 to October 31, 2016, subject to review. The bank has been under directions from close of business of October 31, 2012 vide directive dated October 29, 2012 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive has been extended from time to time fo
May 05, 2016
RBI imposes penalty on The Godhra Urban Co-operative Bank Ltd., Godhra, Dist. Panchmahal (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on The Godhra Urban Co-operative Bank Ltd., Godhra, Dist. Panchmahal (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 large number of ‘at par’ cheques to a single party on the same day in cas
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on The Godhra Urban Co-operative Bank Ltd., Godhra, Dist. Panchmahal (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 large number of ‘at par’ cheques to a single party on the same day in cas
May 05, 2016
RBI imposes penalty on The Midnapore Peoples’ Co-operative Bank Ltd., Dist- Paschim Medinipur, West Bengal
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.5 lakh (Rupees One Lakh Fifty Thousand only) on The Midnapore Peoples’ Co-operative Bank Ltd., Dist- Paschim, Medinipur, West Bengal, Pin-721101, 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 instructions contained in Master Circular on Know Your Customer No
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.5 lakh (Rupees One Lakh Fifty Thousand only) on The Midnapore Peoples’ Co-operative Bank Ltd., Dist- Paschim, Medinipur, West Bengal, Pin-721101, 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 instructions contained in Master Circular on Know Your Customer No
May 04, 2016
RBI withdraws Directions issued to Dilip Urban Co-operative Bank Ltd., Barshi, District - Solapur, Maharashtra
The Reserve Bank of India has withdrawn the All Inclusive Directions issued vide order dated August 06, 2014 to Dilip Urban Co-operative Bank Ltd., Barshi, District - Solapur, Maharashtra, with effect from the close of business on May 04, 2016. The withdrawal of Directions is in exercise of powers vested in the Reserve Bank of India under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies). A copy of the above o
The Reserve Bank of India has withdrawn the All Inclusive Directions issued vide order dated August 06, 2014 to Dilip Urban Co-operative Bank Ltd., Barshi, District - Solapur, Maharashtra, with effect from the close of business on May 04, 2016. The withdrawal of Directions is in exercise of powers vested in the Reserve Bank of India under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies). A copy of the above o
May 03, 2016
RBI withdraws Directions issued to “Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra”
The Reserve Bank of India has withdrawn the All Inclusive Directions issued on May 04, 2012 to “Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra” with effect from the close of business as on May 02, 2016. The withdrawal of Directions is in exercise of powers vested in the Reserve Bank under sub section (2) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies). A copy of the Order is displayed on the ba
The Reserve Bank of India has withdrawn the All Inclusive Directions issued on May 04, 2012 to “Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra” with effect from the close of business as on May 02, 2016. The withdrawal of Directions is in exercise of powers vested in the Reserve Bank under sub section (2) of Section 35A of the Banking Regulation Act, 1949 (As Applicable to Cooperative Societies). A copy of the Order is displayed on the ba
May 02, 2016
Nagar Sahakari Bank Limited, Gorakhpur - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One lakh only) on Nagar Sahkari Bank Ltd., Gorakhpur 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 Section 27 of the above Act relating to submission of statutory returns. The Reserve Bank of India had issued a show cause notice to the bank,
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One lakh only) on Nagar Sahkari Bank Ltd., Gorakhpur 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 Section 27 of the above Act relating to submission of statutory returns. The Reserve Bank of India had issued a show cause notice to the bank,
Apr 28, 2016
Magadh Central Co-operative Bank Ltd., Gaya - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 5,00,000/- (Rupees Five lakh only) on Magadh Central Co-operative Bank Ltd., Gaya 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 the provisions of Section 27 of the B.R.Act, 1949 (AACS) relating to submission of statutory returns. The Reserve Bank of India
The Reserve Bank of India has imposed a monetary penalty of ₹ 5,00,000/- (Rupees Five lakh only) on Magadh Central Co-operative Bank Ltd., Gaya 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 the provisions of Section 27 of the B.R.Act, 1949 (AACS) relating to submission of statutory returns. The Reserve Bank of India
Apr 25, 2016
The Dhrangadhra Peoples’ Co-operative Bank Ltd., Dist. Surendranagar (Gujarat) - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on The Dhrangadhra Peoples’ Co-operative Bank Ltd., Dist. Surendranagar (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 of RBI guidelines and instructions relating to (i) subjecting the investment portfolio to concu
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One Lakh only) on The Dhrangadhra Peoples’ Co-operative Bank Ltd., Dist. Surendranagar (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 of RBI guidelines and instructions relating to (i) subjecting the investment portfolio to concu
Apr 18, 2016
RBI extends Directions issued to the HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh till October 15, 2016
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 April 16, 2016 to October 15, 2016, 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 April 15, 2016. The sa
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 April 16, 2016 to October 15, 2016, 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 April 15, 2016. The sa
Apr 13, 2016
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) - Jamkhed Merchants Co-operative Bank Ltd., Jamkhed, Ahmednagar, Maharashtra
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 Jamkhed Merchants Co-operative Bank Ltd., Jamkhed, Ahmednagar, Maharashtra, whereby, as from the close of business on April 12, 2016, the aforesaid
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 Jamkhed Merchants Co-operative Bank Ltd., Jamkhed, Ahmednagar, Maharashtra, whereby, as from the close of business on April 12, 2016, the aforesaid
Apr 12, 2016
Directions under Section 35A of the Banking Regulation Act, 1949 (AACS)- United India Co-operative Bank Ltd., Nagina, Bijnor, Uttar Pradesh - Extension of period and relaxation in payment of deposits
The Reserve Bank of India (RBI) has extended the validity of the Directions issued to United India Co-operative Bank Ltd., Nagina, Bijnor, for a further period of six months from April 15, 2016 to October 14, 2016 subject to review. Reserve Bank of India has also relaxed the directions imposed on United India Co-operative Bank Ltd., Nagina, Bijnor in partial modification of its earlier directive dated July 08, 2015. Now, the depositor will be allowed to withdraw up to
The Reserve Bank of India (RBI) has extended the validity of the Directions issued to United India Co-operative Bank Ltd., Nagina, Bijnor, for a further period of six months from April 15, 2016 to October 14, 2016 subject to review. Reserve Bank of India has also relaxed the directions imposed on United India Co-operative Bank Ltd., Nagina, Bijnor in partial modification of its earlier directive dated July 08, 2015. Now, the depositor will be allowed to withdraw up to
Apr 12, 2016
RBI issues Directions to Gokul Co-operative Urban Bank Ltd., Secunderabad (Telangana)
The Reserve Bank of India is satisfied that in the interest of the public, it is necessary to issue certain directions to Gokul Co-operative Urban Bank Ltd., Secunderabad. 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) read with Section 56 of the Banking Regulation Act, 1949 hereby directs that Gokul Co-operative Urban Bank
The Reserve Bank of India is satisfied that in the interest of the public, it is necessary to issue certain directions to Gokul Co-operative Urban Bank Ltd., Secunderabad. 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) read with Section 56 of the Banking Regulation Act, 1949 hereby directs that Gokul Co-operative Urban Bank
Apr 07, 2016
RBI Penalised Dholpur Urban Co-operative Bank Ltd., Dholpur
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (₹ One lakh only) on the Dholpur Urban Co-operative Bank Limited, Dholpur, 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 violations of the guidelines/directives on Know Your Customer(KYC)/ Anti-Money Laundering(AML) The Reserve Bank of India had issued a show
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (₹ One lakh only) on the Dholpur Urban Co-operative Bank Limited, Dholpur, 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 violations of the guidelines/directives on Know Your Customer(KYC)/ Anti-Money Laundering(AML) The Reserve Bank of India had issued a show
Apr 07, 2016
RBI imposes penalty on M/s Sun Corporate Services Pvt. Ltd. (Presently known as Mamata Group Corporate Services Pvt. Ltd.)
The Reserve Bank of India (the Bank), has imposed a monetary penalty of ₹ 5 lakh (Rupees Five lakh only) on M/s Sun Corporate Services Pvt. Ltd. (presently known as M/s Mamata Group Corporate Services Pvt. Ltd.), having its registered office at 53, Madhuban, Near Madalpur Underbridge, Ellisbridge, Ahmedabad–380006, Gujarat, in exercise of the powers vested in it under the provisions of section 58-G of the Reserve Bank of India Act, 1934, for violation of the instructi
The Reserve Bank of India (the Bank), has imposed a monetary penalty of ₹ 5 lakh (Rupees Five lakh only) on M/s Sun Corporate Services Pvt. Ltd. (presently known as M/s Mamata Group Corporate Services Pvt. Ltd.), having its registered office at 53, Madhuban, Near Madalpur Underbridge, Ellisbridge, Ahmedabad–380006, Gujarat, in exercise of the powers vested in it under the provisions of section 58-G of the Reserve Bank of India Act, 1934, for violation of the instructi
Apr 06, 2016
RBI penalises The Panihati Co-operative Bank Ltd.,Dist- 24-Parganas (N), West Bengal
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Two lakh only) on the The Panihati Co-operative Bank Ltd., Dist- 24-Parganas (N), West Bengal, Pin-700 114, 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 directions contained in the order dated April 16, 2014 and violation of instructions contained
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Two lakh only) on the The Panihati Co-operative Bank Ltd., Dist- 24-Parganas (N), West Bengal, Pin-700 114, 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 directions contained in the order dated April 16, 2014 and violation of instructions contained
Apr 05, 2016
RBI extends Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh till July 06, 2016
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of three months from April 07, 2016 to July 06, 2016, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto April 06, 2016. The same has further been extended upto July 06, 2016
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of three months from April 07, 2016 to July 06, 2016, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto April 06, 2016. The same has further been extended upto July 06, 2016
Apr 04, 2016
RBI extends validity of the Directions issued to the Mercantile Urban Co-operative Bank Ltd., Meerut, Uttar Pradesh
The Reserve Bank of India (RBI) has extended the Directions issued to the Mercantile Urban Co-operative Bank Ltd., Meerut for a further period of Six months from April 06, 2016 to October 05, 2016, subject to review. The bank has been under directions since October 06, 2015 vide directive dated September 30, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive has been extended for a period of six months fro
The Reserve Bank of India (RBI) has extended the Directions issued to the Mercantile Urban Co-operative Bank Ltd., Meerut for a further period of Six months from April 06, 2016 to October 05, 2016, subject to review. The bank has been under directions since October 06, 2015 vide directive dated September 30, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive has been extended for a period of six months fro
Mar 31, 2016
RBI imposes penalty on The Jambusar Peoples Co-operative Bank Ltd., Jambusar, Dist. Bharuch (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 3.00 lakh (Rupees Three Lakh) on The Jambusar Peoples Co-operative Bank Ltd., Jambusar, Dist. Bharuch (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 violations of the Operational instructions issued u/s 36(1) of B R Act, 1949 (As applicable to Co-operative
The Reserve Bank of India has imposed a monetary penalty of ₹ 3.00 lakh (Rupees Three Lakh) on The Jambusar Peoples Co-operative Bank Ltd., Jambusar, Dist. Bharuch (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 violations of the Operational instructions issued u/s 36(1) of B R Act, 1949 (As applicable to Co-operative
Mar 31, 2016
RBI imposes penalty on The Harij Nagrik Sahakari Bank Ltd., Harij, Dist. Patan (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 3.00 lakh (Rupees Three Lakh) on The Harij Nagrik Sahakari Bank Ltd., Harij, Dist. Patan (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 violations of operational instructions issued by RBI u/s 36 (1) of the B R Act, 1949 (AACS) and RBI guidelines for gold l
The Reserve Bank of India has imposed a monetary penalty of ₹ 3.00 lakh (Rupees Three Lakh) on The Harij Nagrik Sahakari Bank Ltd., Harij, Dist. Patan (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 violations of operational instructions issued by RBI u/s 36 (1) of the B R Act, 1949 (AACS) and RBI guidelines for gold l
Mar 30, 2016
RBI extends Directions issued to Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra till September 30, 2016
The Reserve Bank of India notified that Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra was placed under directions from the close of business on September 30, 2015, for a period of six months, vide directive dated September 28, 2015 under Section 35A of the Banking Regulation Act, 1949 (AACS). It is hereby notified for the information of the public that the aforesaid directive dated September 28, 2015 issued to Ajinkyatara Sahakari Bank Ltd., Satara, shall contin
The Reserve Bank of India notified that Ajinkyatara Sahakari Bank Ltd., Satara, Maharashtra was placed under directions from the close of business on September 30, 2015, for a period of six months, vide directive dated September 28, 2015 under Section 35A of the Banking Regulation Act, 1949 (AACS). It is hereby notified for the information of the public that the aforesaid directive dated September 28, 2015 issued to Ajinkyatara Sahakari Bank Ltd., Satara, shall contin
Mar 28, 2016
RBI extends Directions issued to Shree Ganesh Sahakari Bank Ltd., Nashik, Maharashtra till September 29, 2016
The Reserve Bank of India notified that Shree Ganesh Sahakari Bank Ltd., Nashik was placed under directions for a period of six months vide directive dated April 01, 2013 under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive was extended five times for a period of six months each vide our directives dated September 23, 2013; March 27, 2014; September 17, 2014; March 19, 2015 and September 15, 2015 respectively. It is her
The Reserve Bank of India notified that Shree Ganesh Sahakari Bank Ltd., Nashik was placed under directions for a period of six months vide directive dated April 01, 2013 under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive was extended five times for a period of six months each vide our directives dated September 23, 2013; March 27, 2014; September 17, 2014; March 19, 2015 and September 15, 2015 respectively. It is her
Mar 22, 2016
RBI modifies Directions on the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.)
The Reserve Bank of India (RBI) has modified directions issued to the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.). The bank has been under directions since November 01, 2012 vide directive No. UBD.CO.BSD.-II No./D-20/12.27.002/2012-13 dated October 29, 2012. The validity of the directions had been extended from time to time for a period of six months, subject to review, latest being from November 01, 2015 to April 30, 2016. In terms of the existing directions, amo
The Reserve Bank of India (RBI) has modified directions issued to the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.). The bank has been under directions since November 01, 2012 vide directive No. UBD.CO.BSD.-II No./D-20/12.27.002/2012-13 dated October 29, 2012. The validity of the directions had been extended from time to time for a period of six months, subject to review, latest being from November 01, 2015 to April 30, 2016. In terms of the existing directions, amo
Mar 21, 2016
RBI extends validity of the Directions issued to 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 March 24, 2016 to June 23, 2016, subject to review. The bank has been under directions since March 24, 2015 vide directive DCBS.CO.BSD-IV. No. D-35/12.28.063/2014-15 dated March 14, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive was extended v
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 March 24, 2016 to June 23, 2016, subject to review. The bank has been under directions since March 24, 2015 vide directive DCBS.CO.BSD-IV. No. D-35/12.28.063/2014-15 dated March 14, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The validity of the aforesaid directive was extended v
Mar 11, 2016
RBI extends Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh till September 11, 2016
The Reserve Bank of India has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from March 12, 2016 to September 11, 2016, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive has been modified / its validity extended vide RBI directives dated July 30
The Reserve Bank of India has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of six months from March 12, 2016 to September 11, 2016, subject to review. The bank has been under directions since June 12, 2014 vide directive dated June 4, 2014 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive has been modified / its validity extended vide RBI directives dated July 30
Mar 09, 2016
RBI extends Directions issued to Nashik Zilla Girna Sahakari Bank Ltd., Nashik, Maharashtra till September 09, 2016
The Reserve Bank of India notified that Nashik Zilla Girna Sahakari Bank Ltd., Nashik, Maharashtra, was placed under directions for a period of six months vide directive dated September 8, 2015 from the close of business on September 9, 2015. The validity of the directions is extended for a period of six months from the close of business on March 9, 2016 to September 9, 2016 vide directive dated March 03, 2016, subject to review and subject to the following modificati
The Reserve Bank of India notified that Nashik Zilla Girna Sahakari Bank Ltd., Nashik, Maharashtra, was placed under directions for a period of six months vide directive dated September 8, 2015 from the close of business on September 9, 2015. The validity of the directions is extended for a period of six months from the close of business on March 9, 2016 to September 9, 2016 vide directive dated March 03, 2016, subject to review and subject to the following modificati
Mar 03, 2016
RBI imposes penalty on The Muslim Co-operative Bank Ltd., Mysuru, Karnataka
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One lakh only) on The Muslim Co-operative Bank Ltd., Mysuru, 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 violation of Reserve Bank of India’s instructions contained in Circular dated April 29, 2003 and dated June 24, 2003 and also Dir
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One lakh only) on The Muslim Co-operative Bank Ltd., Mysuru, 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 violation of Reserve Bank of India’s instructions contained in Circular dated April 29, 2003 and dated June 24, 2003 and also Dir
Feb 26, 2016
RBI imposes penalty on The Nasik Merchants Co-operative Bank Ltd., Nashik
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on The Nasik Merchants Co-operative Bank Ltd., Nashik in exercise of the 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 violations, during the tenure of the erstwhile Board of Directors, of the directives/ guidelines/instructions of the Reserve Bank of
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on The Nasik Merchants Co-operative Bank Ltd., Nashik in exercise of the 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 violations, during the tenure of the erstwhile Board of Directors, of the directives/ guidelines/instructions of the Reserve Bank of
Feb 23, 2016
RBI extends Directions issued to Rupee Co-operative Bank Ltd., Pune, Maharashtra till August 21, 2016
The Reserve Bank of India vide directive dated February 18, 2016 has, with some modifications, extended directions issued to Rupee Co-operative Bank Ltd., Pune, Maharashtra for a further period of six months from February 22, 2016 to August 21, 2016, subject to review. The bank can now allow its depositors to withdraw a sum not exceeding ₹ 20,000/- (Rupees Twenty Thousand only) in every savings bank account or current account or term deposit account or any other depos
The Reserve Bank of India vide directive dated February 18, 2016 has, with some modifications, extended directions issued to Rupee Co-operative Bank Ltd., Pune, Maharashtra for a further period of six months from February 22, 2016 to August 21, 2016, subject to review. The bank can now allow its depositors to withdraw a sum not exceeding ₹ 20,000/- (Rupees Twenty Thousand only) in every savings bank account or current account or term deposit account or any other depos
Feb 15, 2016
RBI imposes Monetary Penalty on The Kapadwanj Peoples Co-operative Bank Ltd., Kapadwanj, Dist Kheda (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh) on The Kapadwanj Peoples Co-operative Bank Ltd., Kapadwanj, Dist Kheda (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 violations of operational instructions issued under Section 36(1) of B.R. Act, 1949 (AACS) and guidelines of Re
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh) on The Kapadwanj Peoples Co-operative Bank Ltd., Kapadwanj, Dist Kheda (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 violations of operational instructions issued under Section 36(1) of B.R. Act, 1949 (AACS) and guidelines of Re
Feb 12, 2016
RBI imposes Monetary Penalty on The Kutch Mercantile Co-operative Bank Ltd., Rapar, Dist. Kutch (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on the The Kutch Mercantile Co-operative Bank Ltd., Rapar, Dist. Kutch (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: non-adherence to the operational instructions issued by Reserve Bank of India u/s
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on the The Kutch Mercantile Co-operative Bank Ltd., Rapar, Dist. Kutch (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: non-adherence to the operational instructions issued by Reserve Bank of India u/s
Feb 06, 2016
RBI further extends Directions issued to Dilip Urban Co-operative Bank Ltd., Barshi, District-Solapur, Maharashtra till May 06, 2016
The Reserve Bank of India notified that Dilip Urban Co-operative Bank Ltd., Barshi, District-Solapur was placed under directions for a period of six months vide directive dated August 06, 2014 from the close of business on August 08, 2014. The validity of the aforesaid directive was extended twice for a period of six months each vide our directives dated January 20, 2015 and July 27, 2015 respectively. It is hereby notified for information of the public that the perio
The Reserve Bank of India notified that Dilip Urban Co-operative Bank Ltd., Barshi, District-Solapur was placed under directions for a period of six months vide directive dated August 06, 2014 from the close of business on August 08, 2014. The validity of the aforesaid directive was extended twice for a period of six months each vide our directives dated January 20, 2015 and July 27, 2015 respectively. It is hereby notified for information of the public that the perio
Feb 03, 2016
RBI extends Directions issued to Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra till May 03, 2016
The Reserve Bank of India has extended Directions issued to Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad for a further period of three months from February 04, 2016 to May 03, 2016, subject to review. The bank was under directions since May 2012. The Directions were earlier extended on six occasions for a period of six months each and on one occasion for a period of three months. The Directions were imposed in exercise of powers vested in the Reser
The Reserve Bank of India has extended Directions issued to Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad for a further period of three months from February 04, 2016 to May 03, 2016, subject to review. The bank was under directions since May 2012. The Directions were earlier extended on six occasions for a period of six months each and on one occasion for a period of three months. The Directions were imposed in exercise of powers vested in the Reser
Jan 22, 2016
RBI extends Directions issued to CKP Co-operative Bank Ltd, Mumbai, Maharashtra till July 31, 2016
The Reserve Bank of India notified that CKP Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated April 30, 2014 from the close of business on May 2, 2014. The validity of the directions was extended four times, vide directives dated October 21, 2014 for a period of three months; January 20, 2015 for a period of six months; July 9, 2015 for a period of three months and October 28, 2015 for a period of t
The Reserve Bank of India notified that CKP Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated April 30, 2014 from the close of business on May 2, 2014. The validity of the directions was extended four times, vide directives dated October 21, 2014 for a period of three months; January 20, 2015 for a period of six months; July 9, 2015 for a period of three months and October 28, 2015 for a period of t
Jan 19, 2016
Reserve Bank of India Penalizes Rajputana Mahila Urban Co-operative Bank Limited, Jaipur
The Reserve Bank of India has imposed a monetary penalty of ₹ 3.00 lakh (₹ Three lakh only) on the Rajputana Mahila Urban Co-operative Bank Limited, Jaipur, 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 violations of the guidelines/directives issued by Reserve Bank on finance against properties situated in unauthorized colonies and
The Reserve Bank of India has imposed a monetary penalty of ₹ 3.00 lakh (₹ Three lakh only) on the Rajputana Mahila Urban Co-operative Bank Limited, Jaipur, 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 violations of the guidelines/directives issued by Reserve Bank on finance against properties situated in unauthorized colonies and
Jan 13, 2016
RBI extends Directions issued to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal till July 06, 2016
The Reserve Bank of India has extended directions issued to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal. The directions will continue to apply to the bank for a further period of six months from January 07, 2016 to July 06, 2016, subject to review. The Reserve Bank had initially placed the bank under directions for six months with effect from April 07, 2014 due to its very precarious financial position and the validity of which was subsequently e
The Reserve Bank of India has extended directions issued to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal. The directions will continue to apply to the bank for a further period of six months from January 07, 2016 to July 06, 2016, subject to review. The Reserve Bank had initially placed the bank under directions for six months with effect from April 07, 2014 due to its very precarious financial position and the validity of which was subsequently e
Jan 11, 2016
RBI extends Directions issued to the United India Co-operative Bank Ltd., Nagina, Bijnor, Uttar Pradesh till April 14, 2016
The Reserve Bank of India has extended Directions issued to the United India Co-operative Bank Ltd., Nagina, Bijnor for a further period of Three months from January 15, 2016 to April 14, 2016, subject to review. The bank has been under directions since July 15, 2015. According to the Directions, United India Co-operative Bank Ltd., Nagina, Bijnor cannot and without prior approval of the Reserve Bank in writing grant or renew any loans and advances, make any investmen
The Reserve Bank of India has extended Directions issued to the United India Co-operative Bank Ltd., Nagina, Bijnor for a further period of Three months from January 15, 2016 to April 14, 2016, subject to review. The bank has been under directions since July 15, 2015. According to the Directions, United India Co-operative Bank Ltd., Nagina, Bijnor cannot and without prior approval of the Reserve Bank in writing grant or renew any loans and advances, make any investmen
Jan 10, 2016
RBI extends Directions issued to Jijamata Mahila Sahakari Bank Ltd., Satara, Maharashtra till July 09, 2016
The Reserve Bank of India notified that Jijamata Mahila Sahakari Bank Ltd., Satara, Maharashtra was placed under directions for a period of six months from the close of business on July 10, 2015 vide directive dated July 08, 2015 under Section 35A of the Banking Regulation Act, 1949 (AACS). It is hereby notified for the information of the public that the validity of the aforesaid directive has been extended for a period of six months from January 10, 2016 to July 09,
The Reserve Bank of India notified that Jijamata Mahila Sahakari Bank Ltd., Satara, Maharashtra was placed under directions for a period of six months from the close of business on July 10, 2015 vide directive dated July 08, 2015 under Section 35A of the Banking Regulation Act, 1949 (AACS). It is hereby notified for the information of the public that the validity of the aforesaid directive has been extended for a period of six months from January 10, 2016 to July 09,
Jan 05, 2016
RBI extends Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur, Uttar Pradesh till April 06, 2016
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of three months from January 06, 2016 to April 06, 2016, subject to review. The bank has been under directions since July 07, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). According to the Directions, Brahmawart Commercial Co-operative Bank Ltd., Kanpur cannot and without prior approval of the Reserve Ban
The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of three months from January 06, 2016 to April 06, 2016, subject to review. The bank has been under directions since July 07, 2015 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). According to the Directions, Brahmawart Commercial Co-operative Bank Ltd., Kanpur cannot and without prior approval of the Reserve Ban
Jan 04, 2016
RBI releases Primary (Urban) Co-operative Banks’ Outlook 2014-15
The Reserve Bank of India today released the 2nd volume of the annual publication titled ‘Primary (Urban) Co-operative Banks’ Outlook 2014-15’. The publication be accessed at http://dbie.rbi.org.in/DBIE/dbie.rbi?site=publications#!13. The publication has been brought out by the Department of Co-operative Bank Supervision of the Reserve Bank of India. The publication covers the financial accounts of Scheduled and Non-Scheduled Primary (Urban) Co-operative Banks for the
The Reserve Bank of India today released the 2nd volume of the annual publication titled ‘Primary (Urban) Co-operative Banks’ Outlook 2014-15’. The publication be accessed at http://dbie.rbi.org.in/DBIE/dbie.rbi?site=publications#!13. The publication has been brought out by the Department of Co-operative Bank Supervision of the Reserve Bank of India. The publication covers the financial accounts of Scheduled and Non-Scheduled Primary (Urban) Co-operative Banks for the
Jan 01, 2016
RBI extends Directions issued to Shri Sai Urban Co-operative Bank Ltd., Mukhed Dist. Nanded, Maharashtra till June 30, 2016
The Reserve Bank of India has extended Directions issued to Shri Sai Urban Co-operative Bank Ltd., Mukhed, Dist. Nanded (Mahrashtra) for a further period of six months from the close of business as on December 31, 2015 to June 30, 2016, subject to review. The bank was under directions since July 01, 2015. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). A copy
The Reserve Bank of India has extended Directions issued to Shri Sai Urban Co-operative Bank Ltd., Mukhed, Dist. Nanded (Mahrashtra) for a further period of six months from the close of business as on December 31, 2015 to June 30, 2016, subject to review. The bank was under directions since July 01, 2015. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section (1) of Section 35A of the Banking Regulation Act, 1949 (AACS). A copy
Dec 23, 2015
RBI extends Directions issued to The R S Co-operative Bank Ltd., Mumbai, Maharashtra till June 25, 2016
The Reserve Bank of India notified The R S Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated June 24, 2015 from the close of business on June 26, 2015. The validity of the directions has been extended for a further period of six months from December 25, 2015 to June 25, 2016 vide our modified directive dated December 21, 2015 subject to review. The other terms and conditions of the directive under r
The Reserve Bank of India notified The R S Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions for a period of six months vide directive dated June 24, 2015 from the close of business on June 26, 2015. The validity of the directions has been extended for a further period of six months from December 25, 2015 to June 25, 2016 vide our modified directive dated December 21, 2015 subject to review. The other terms and conditions of the directive under r
Dec 21, 2015
RBI withdraws Directions issued to Shree Govardhansinghji Raghuvanshi Sahakari Bank Ltd., Nandurbar, Maharashtra
The Reserve Bank of India has withdrawn the All Inclusive Directions issued on September 9, 2015 to Shree Govardhansinghji Raghuvanshi Sahakari Bank Ltd., Nandurbar, Maharashtra, with effect from the close of business on December 19, 2015. The withdrawal of Directions is in exercise of powers vested in the Reserve Bank under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies). A copy of the order is displayed on
The Reserve Bank of India has withdrawn the All Inclusive Directions issued on September 9, 2015 to Shree Govardhansinghji Raghuvanshi Sahakari Bank Ltd., Nandurbar, Maharashtra, with effect from the close of business on December 19, 2015. The withdrawal of Directions is in exercise of powers vested in the Reserve Bank under sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies). A copy of the order is displayed on
Dec 15, 2015
Nagrik Sahkari Bank Ltd, Raipur - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 1,00,000/- (₹ One lakh only) on Nagrik Sahkari Bank Ltd., Raipur 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 KYC/ AML norms / guidelines issued by the Reserve Bank of India. The Reserve Bank of India had issued a show cause notice to the bank, in respo
The Reserve Bank of India has imposed a monetary penalty of ₹ 1,00,000/- (₹ One lakh only) on Nagrik Sahkari Bank Ltd., Raipur 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 KYC/ AML norms / guidelines issued by the Reserve Bank of India. The Reserve Bank of India had issued a show cause notice to the bank, in respo
Dec 12, 2015
RBI’s Department of Co-operative Bank Supervision, Mumbai Regional Office shifted to BKC
With effect from December 14, 2015, the Reserve Bank of India’s Department of Co-operative Bank Supervision, Mumbai Regional Office will function from the following address: Reserve Bank of India C-8, Ground Floor Bandra Kurla Complex Bandra (East) Mumbai – 400 051 Telephone Nos. 022-26578300 / 26578100 The Department was earlier located at Garment House, 2nd floor, Dr. A B Road, Worli, Mumbai 400 018. Sangeeta Das Director Press Release: 2015-2016/1394
With effect from December 14, 2015, the Reserve Bank of India’s Department of Co-operative Bank Supervision, Mumbai Regional Office will function from the following address: Reserve Bank of India C-8, Ground Floor Bandra Kurla Complex Bandra (East) Mumbai – 400 051 Telephone Nos. 022-26578300 / 26578100 The Department was earlier located at Garment House, 2nd floor, Dr. A B Road, Worli, Mumbai 400 018. Sangeeta Das Director Press Release: 2015-2016/1394
Dec 11, 2015
RBI extends Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh till March 11, 2016
The Reserve Bank of India has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of three months from December 12, 2015 to March 11, 2016, subject to review. The bank has been under directions since June 12, 2014 vide directive UBD.CO.BSD-IV/D-41/12.28.007/2013-14 dated June 4, 2014 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified / its validity extended
The Reserve Bank of India has extended the Directions issued to the Indian Mercantile Co-operative Bank Ltd., Lucknow for a further period of three months from December 12, 2015 to March 11, 2016, subject to review. The bank has been under directions since June 12, 2014 vide directive UBD.CO.BSD-IV/D-41/12.28.007/2013-14 dated June 4, 2014 issued under Section 35A of the Banking Regulation Act, 1949 (AACS). The aforesaid directive was modified / its validity extended
Dec 10, 2015
Vyavsayik Sahkari Bank Ltd, Raipur - Penalised
The Reserve Bank of India has imposed a monetary penalty of ₹ 1,00,000/- (₹ One lakh only) on Vyavsayik Sahkari Bank Ltd, Raipur 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 KYC/ AML norms / guidelines issued by the Reserve Bank of India. The Reserve Bank of India had issued a show cause notice to the bank, in res
The Reserve Bank of India has imposed a monetary penalty of ₹ 1,00,000/- (₹ One lakh only) on Vyavsayik Sahkari Bank Ltd, Raipur 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 KYC/ AML norms / guidelines issued by the Reserve Bank of India. The Reserve Bank of India had issued a show cause notice to the bank, in res
Dec 10, 2015
RBI extends Directions on 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 further extended for a period of six months vide directive dated March 04, 2015 from the close of business on March 11, 2015 and for a period of three months vide directive dated September 1,
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 further extended for a period of six months vide directive dated March 04, 2015 from the close of business on March 11, 2015 and for a period of three months vide directive dated September 1,
Nov 30, 2015
RBI extends Directions issued to Choundeshwari Sahakari Bank Ltd, Ichalkaranji, Kolhapur till May 31, 2016
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 twice, vide order dated February 05, 2015 for a period of six months and dated July 31, 2015 for a period of three months. It is hereby notified for the information of the public that the period of operation of the directive dated A
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 twice, vide order dated February 05, 2015 for a period of six months and dated July 31, 2015 for a period of three months. It is hereby notified for the information of the public that the period of operation of the directive dated A
Nov 26, 2015
RBI imposes Monetary Penalty on The Karimnagar Co-operative Urban Bank Ltd., Karimnagar, Telangana
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Karimnagar Co-operative Urban Bank Ltd., Karimnagar, 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 guidelines/directives of Reserve Bank of India 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 Karimnagar Co-operative Urban Bank Ltd., Karimnagar, 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 guidelines/directives of Reserve Bank of India on loans and advances to directors and their relatives.
Nov 26, 2015
RBI imposes Monetary Penalty on Swasakthi Mercantile Co-operative Urban Bank Ltd. Vijayawada, Krishna District, Andhra Pradesh
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on Swasakthi Mercantile Co-operative Urban Bank Ltd., Vijayawada , Krishna District, 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 of the Banking Regulation Act, 1949 (AACS) and directives/ gu
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on Swasakthi Mercantile Co-operative Urban Bank Ltd., Vijayawada , Krishna District, 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 of the Banking Regulation Act, 1949 (AACS) and directives/ gu
Nov 19, 2015
RBI extends Directions issued to Lokseva Sahakari Bank Ltd., Pune, Maharashtra till May 19, 2016
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 twice, for a period of six months each, vide order dated November 12, 2014 and dated May 06, 2015. It is hereby notified for the information of the public that the period of operation of the directive dated May 19, 2014
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 twice, for a period of six months each, vide order dated November 12, 2014 and dated May 06, 2015. It is hereby notified for the information of the public that the period of operation of the directive dated May 19, 2014
Nov 17, 2015
RBI extends Directions issued to Shatabdi Mahila Sahakari Bank Ltd., Thane, District-Thane, Maharashtra till May 17, 2016
The Reserve Bank of India notified that Shatabdi Mahila Sahakari Bank Ltd., Thane was placed under directions for a period of six months vide directive dated August 14, 2014 from the close of business on August 20, 2014. The validity of the aforesaid directive was further extended for a period of six months and three months vide directive dated February 04, 2015 and dated July 21, 2015 respectively. It is hereby notified for the information of the public that the peri
The Reserve Bank of India notified that Shatabdi Mahila Sahakari Bank Ltd., Thane was placed under directions for a period of six months vide directive dated August 14, 2014 from the close of business on August 20, 2014. The validity of the aforesaid directive was further extended for a period of six months and three months vide directive dated February 04, 2015 and dated July 21, 2015 respectively. It is hereby notified for the information of the public that the peri
Nov 05, 2015
RBI imposes Monetary Penalty on The Vardhman Co-operative Bank Ltd., Dist. Jamnagar (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh) on The Vardhman Co-operative Bank Ltd., Dist. Jamnagar (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 of RBI guidelines and instructions relating to (i) Know Your Customer (KYC) guidelines, (ii) by not putting in place
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh) on The Vardhman Co-operative Bank Ltd., Dist. Jamnagar (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 of RBI guidelines and instructions relating to (i) Know Your Customer (KYC) guidelines, (ii) by not putting in place
Nov 05, 2015
RBI extends Directions issued to Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad, Maharashtra till February 03, 2016
The Reserve Bank of India has extended Directions issued to Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad for a further period of three months from November 04, 2015 to February 03, 2016, subject to review. The bank was under directions since May 2012. The Directions were earlier extended on six occasions for a period of six months each. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section (1) of Section 35A
The Reserve Bank of India has extended Directions issued to Dr. Babasaheb Ambedkar Nagari Sahakari Bank Maryadit, Aurangabad for a further period of three months from November 04, 2015 to February 03, 2016, subject to review. The bank was under directions since May 2012. The Directions were earlier extended on six occasions for a period of six months each. The Directions were imposed in exercise of powers vested in the Reserve Bank under sub section (1) of Section 35A
Nov 05, 2015
RBI imposes Monetary Penalty on Dhanlaxmi Bank Ltd.
The Reserve Bank of India has imposed a monetary penalty of ₹ 10 million on Dhanlaxmi Bank Ltd. for violation of its instructions, among other things, on Know Your Customer (KYC) norms and Anti Money Laundering (AML) standards. The penalty has been imposed in exercise of powers vested in the Reserve Bank under the provisions of Section 47(A) (1) (c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account the violations of the instructions/
The Reserve Bank of India has imposed a monetary penalty of ₹ 10 million on Dhanlaxmi Bank Ltd. for violation of its instructions, among other things, on Know Your Customer (KYC) norms and Anti Money Laundering (AML) standards. The penalty has been imposed in exercise of powers vested in the Reserve Bank under the provisions of Section 47(A) (1) (c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account the violations of the instructions/
Nov 03, 2015
RBI withdraws Directions on The Panihati Co-operative Bank Limited, Kolkata
Reserve Bank had issued directions to The Panihati Co-operative Bank Limited, Panihati, Kolkata, West Bengal with effect from April 24, 2014 due to its precarious financial position. The directions were subsequently extended from time to time upto October 23, 2015. Now, on being satisfied, The Reserve Bank has withdrawn directions imposed on The Panihati Co-operative Bank Limited, Panihati, Kolkata with effect from close of business of October 16, 2015. However, the b
Reserve Bank had issued directions to The Panihati Co-operative Bank Limited, Panihati, Kolkata, West Bengal with effect from April 24, 2014 due to its precarious financial position. The directions were subsequently extended from time to time upto October 23, 2015. Now, on being satisfied, The Reserve Bank has withdrawn directions imposed on The Panihati Co-operative Bank Limited, Panihati, Kolkata with effect from close of business of October 16, 2015. However, the b
Nov 03, 2015
RBI imposes Monetary Penalty on The Madanapalle Co-operative Town Bank Ltd. Madanapalle, Chittor District, Andhra Pradesh
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Madanapalle Co-operative Town Bank Ltd., Madanapalle, Chittoor District, 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 Applicabl
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Madanapalle Co-operative Town Bank Ltd., Madanapalle, Chittoor District, 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 Applicabl
Nov 03, 2015
RBI imposes Monetary Penalty on Chaitanya 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 Chaitanya 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 guidelines/directives of Reserve Bank of India on loans and advances to directors and their relatives. The R
The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on Chaitanya 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 guidelines/directives of Reserve Bank of India on loans and advances to directors and their relatives. The R
Nov 03, 2015
RBI imposes Monetary Penalty on The Mehsana District Central Cooperative Bank Ltd., Mehsana (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on The Mehsana District Central Cooperative Bank Ltd., Mehsana (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 of the provisions of Section 22(3)(b) of the B.R.Act, 1949 (AACS) relating to “the affairs of the co-oper
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on The Mehsana District Central Cooperative Bank Ltd., Mehsana (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 of the provisions of Section 22(3)(b) of the B.R.Act, 1949 (AACS) relating to “the affairs of the co-oper
Nov 02, 2015
RBI extends Direction on The C.K.P. Co-operative Bank Ltd., Mumbai, Maharashtra
The Reserve Bank of India, on October 28, 2015, extended the period of operation of its directive on The C.K.P. Cooperative Bank Ltd., for a further period of three months from the close of business on October 31, 2015. The direction is subject to review. The other terms and conditions of the directive remain unchanged. A copy of the directive dated October 28, 2015 notifying the modification is displayed on the bank’s premises for perusal of public. The modification
The Reserve Bank of India, on October 28, 2015, extended the period of operation of its directive on The C.K.P. Cooperative Bank Ltd., for a further period of three months from the close of business on October 31, 2015. The direction is subject to review. The other terms and conditions of the directive remain unchanged. A copy of the directive dated October 28, 2015 notifying the modification is displayed on the bank’s premises for perusal of public. The modification
Oct 30, 2015
RBI extends Directions on the Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.)
The Reserve Bank of India has issued certain Directions to Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.). The directive shall continue to apply for a further period of six months from November 01, 2015 to April 30, 2016, subject to review. The bank is under directions from the close of business of October 31, 2012. According to the Directions, Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.) cannot, from the close of business on October 31, 2012 and without prior app
The Reserve Bank of India has issued certain Directions to Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.). The directive shall continue to apply for a further period of six months from November 01, 2015 to April 30, 2016, subject to review. The bank is under directions from the close of business of October 31, 2012. According to the Directions, Bhopal Nagrik Sahakari Bank Ltd., Bhopal (M.P.) cannot, from the close of business on October 31, 2012 and without prior app
Oct 30, 2015
RBI imposes Monetary Penalty on Balasinor Nagarik Sahakari Bank Ltd., Balasinor, Dist. Mahisagar
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh) on Balasinor Nagarik Sahakari Bank Ltd., Balasinor, 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 violations pertaining to (i) non-compliance with operational instructions imposed by RBI u/s 36 (1) of the B R Act
The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh) on Balasinor Nagarik Sahakari Bank Ltd., Balasinor, 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 violations pertaining to (i) non-compliance with operational instructions imposed by RBI u/s 36 (1) of the B R Act
Oct 28, 2015
RBI imposes Monetary Penalty on The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad (Gujarat)
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad (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 of RBI guidelines/ instructions by not adhering to the operational instructions issued under Section 35A of t
The Reserve Bank of India has imposed a monetary penalty of ₹ 5.00 lakh (Rupees Five Lakh only) on The Bhuj Mercantile Co-operative Bank Ltd., Ahmedabad (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 of RBI guidelines/ instructions by not adhering to the operational instructions issued under Section 35A of t
Oct 20, 2015
RBI modifies the Directive imposed on the Indian Mercantile Co-operative Bank Ltd., Lucknow, Uttar Pradesh
The Reserve Bank of India has notified that in partial modification of its Directive dated July 30, 2014, it has, vide directive dated October 19, 2015, modified the directions on the Indian Mercantile Co-operative Bank Ltd., Lucknow. The bank has been originally placed under directions w.e.f June 12, 2014 vide directive dated June 04, 2014. In terms of the said Directive dated July 30, 2014, among other conditions, a sum not exceeding ₹ 1,00,000/- of the total balanc
The Reserve Bank of India has notified that in partial modification of its Directive dated July 30, 2014, it has, vide directive dated October 19, 2015, modified the directions on the Indian Mercantile Co-operative Bank Ltd., Lucknow. The bank has been originally placed under directions w.e.f June 12, 2014 vide directive dated June 04, 2014. In terms of the said Directive dated July 30, 2014, among other conditions, a sum not exceeding ₹ 1,00,000/- of the total balanc
Oct 12, 2015
RBI extends Directions issued to the HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh till April 15, 2016
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, 2015 to April 15, 2016, subject to review. The bank has been under directions since April 16, 2015 vide directive dated April 10, 2015 and modified directive dated June 29, 2015. According to the above directives, the HCBL Co-operative Bank Ltd., Lucknow cannot and without prior approval of the Reserve Bank in writing
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, 2015 to April 15, 2016, subject to review. The bank has been under directions since April 16, 2015 vide directive dated April 10, 2015 and modified directive dated June 29, 2015. According to the above directives, the HCBL Co-operative Bank Ltd., Lucknow cannot and without prior approval of the Reserve Bank in writing
Oct 07, 2015
RBI issues Directions to Mercantile Urban Co-operative Bank Ltd., Meerut (Uttar Pradesh)
The Reserve Bank of India is satisfied that in the interest of the public, it is necessary to issue certain directions to the Mercantile Urban Co-operative Bank Ltd., Meerut. 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) read with Section 56 of the Banking Regulation Act, 1949 hereby directs that the Mercantile Urban Co-ope
The Reserve Bank of India is satisfied that in the interest of the public, it is necessary to issue certain directions to the Mercantile Urban Co-operative Bank Ltd., Meerut. 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) read with Section 56 of the Banking Regulation Act, 1949 hereby directs that the Mercantile Urban Co-ope
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