Press Releases - Regulating Co-operative Banking - RBI - Reserve Bank of India
Press Releases
Aug 17, 2006
Reserve Bank Cancels the Licence of The Kanyaka Parameshwari Mutually Aided Co-operative Urban Bank Ltd., Andhra Pradesh
In view of the fact that the The Kanyaka Parameshwari Mutually Aided Co-operative Urban Bank Ltd., Kukatpally, R.R. District, Andhra Pradesh had ceased to be solvent, all efforts to revive it in close consultation with the Government of Andhra Pradesh had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on August 16, 200
In view of the fact that the The Kanyaka Parameshwari Mutually Aided Co-operative Urban Bank Ltd., Kukatpally, R.R. District, Andhra Pradesh had ceased to be solvent, all efforts to revive it in close consultation with the Government of Andhra Pradesh had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on August 16, 200
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Aug 03, 2006
Reserve Bank Cancels the Licence of the Challakere Urban Co-operative Bank Ltd., Challakere (Karnataka)
In view of the fact that the The Challakere Urban Co-operative Bank Ltd., Challakere (Karnataka) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Karnataka had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on August 02, 2006. The Registrar of Co-operative Societies, Karna
In view of the fact that the The Challakere Urban Co-operative Bank Ltd., Challakere (Karnataka) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Karnataka had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on August 02, 2006. The Registrar of Co-operative Societies, Karna
Jul 28, 2006
Reserve Bank Cancels the Licence of Sri Sampige Siddeswara Urban Co-operative Bank Ltd., Chitradurga, (Karnataka)
In view of the fact that the Sri Sampige Siddeswara Urban Co-operative Bank Ltd., Chitradurga, (Karnataka) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Karnataka had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on July 26, 2006. The Registrar of Co-operative Societie
In view of the fact that the Sri Sampige Siddeswara Urban Co-operative Bank Ltd., Chitradurga, (Karnataka) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Karnataka had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on July 26, 2006. The Registrar of Co-operative Societie
Jul 07, 2006
Moratorium on Ganesh Bank of Kurundwad Ltd.
The Central Government on an application made by Reserve Bank of India has issued an order of moratorium on the Ganesh Bank of Kurundwad Ltd. for the period from the close of business on July 7, 2006 up to and inclusive of October 6, 2006 under the provisions of sub-Section (2) of Section 45 of the Banking Regulation Act, 1949. The moratorium has been declared in public interest, in the interest of the depositors and the banking system. G.Raghuraj Deputy General Manag
The Central Government on an application made by Reserve Bank of India has issued an order of moratorium on the Ganesh Bank of Kurundwad Ltd. for the period from the close of business on July 7, 2006 up to and inclusive of October 6, 2006 under the provisions of sub-Section (2) of Section 45 of the Banking Regulation Act, 1949. The moratorium has been declared in public interest, in the interest of the depositors and the banking system. G.Raghuraj Deputy General Manag
Jul 04, 2006
Reserve Bank Cancels the Licence of Purna Nagari Sahakari Bank Ltd., Purna, Dist.Parbhani (Maharashtra)
In view of the fact that Purna Nagari Sahakari Bank Ltd., Purna, Dist.Parbhani (Maharashtra), had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order canceling its licence to the bank on July 1, 2006. The Registrar of Co-operative Societies, Maharashtra has also been requested to issue an or
In view of the fact that Purna Nagari Sahakari Bank Ltd., Purna, Dist.Parbhani (Maharashtra), had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order canceling its licence to the bank on July 1, 2006. The Registrar of Co-operative Societies, Maharashtra has also been requested to issue an or
Jun 26, 2006
Reserve Bank Cancels the Licence of Bangalore Mercantile Co-operative Bank Ltd., Bangalore
In view of the fact that the Bangalore Mercantile Co-operative Bank Ltd., Bangalore, (Karnataka) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Karnataka had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on June 23, 2006. The Registrar of Co-operative Societies, Karnata
In view of the fact that the Bangalore Mercantile Co-operative Bank Ltd., Bangalore, (Karnataka) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Karnataka had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on June 23, 2006. The Registrar of Co-operative Societies, Karnata
Jun 21, 2006
Reserve Bank Cancels the Licence of The Parbhani People's Co-operative Bank Ltd., Parbhani (Maharashtra)
In view of the fact that the The Parbhani People's Co-operative Bank Ltd., Parbhani, Maharashtra, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order canceling its licence to the bank on June 16, 2006. The Registrar of Co-operative Societies, Maharashtra has also been requested to issue
In view of the fact that the The Parbhani People's Co-operative Bank Ltd., Parbhani, Maharashtra, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order canceling its licence to the bank on June 16, 2006. The Registrar of Co-operative Societies, Maharashtra has also been requested to issue
Jun 15, 2006
Reserve Bank Cancels the Licence of the Shriram Sahakari Bank Ltd., Nashik (Maharashtra)
In view of the fact that the Shriram Sahakari Bank Ltd., Nashik, Maharashtra, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order canceling its licence to the bank on June 13, 2006 at 10.30 a.m. The Registrar of Co-operative Societies, Maharashtra has also been requested to issue an orde
In view of the fact that the Shriram Sahakari Bank Ltd., Nashik, Maharashtra, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order canceling its licence to the bank on June 13, 2006 at 10.30 a.m. The Registrar of Co-operative Societies, Maharashtra has also been requested to issue an orde
May 31, 2006
Reserve Bank Cancels the Licence of The Ichalkaranji Jiveshwar, Sahakari Bank Ltd., Ichalkaranji
In view of the fact that the Ichalkaranji Jiveshwar Sahakari Bank Ltd., Ichalkaranji, Dist., Kolhapur, Maharashtra, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank on May 30, 2006. The Registrar of Co-operative Societies, Maharashtra has also been r
In view of the fact that the Ichalkaranji Jiveshwar Sahakari Bank Ltd., Ichalkaranji, Dist., Kolhapur, Maharashtra, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank on May 30, 2006. The Registrar of Co-operative Societies, Maharashtra has also been r
May 17, 2006
Reserve Bank Cancels the Licence of The Baroda Mercantile Co-operative Bank Ltd., Vadodara (Gujarat)
In view of the fact that the Baroda Mercantile Co-operative Bank Ltd., Vadodara Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank on May 16, 2006 at 2:40 p. m. The Registrar of Co-operative Societies, Gujarat has also been requested to issue an o
In view of the fact that the Baroda Mercantile Co-operative Bank Ltd., Vadodara Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank on May 16, 2006 at 2:40 p. m. The Registrar of Co-operative Societies, Gujarat has also been requested to issue an o
May 16, 2006
Reserve Bank Cancels the Licence of The Onake Obavva Mahila Co-operative Bank Ltd., Chitradurga (Karnataka)
In view of the fact that the The Onake Obavva Mahila Co-operative Bank Ltd., Chitradurga (Karnataka) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Karnataka had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on May 12, 2006. The Registrar of Co-operative Societies, Karn
In view of the fact that the The Onake Obavva Mahila Co-operative Bank Ltd., Chitradurga (Karnataka) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Karnataka had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on May 12, 2006. The Registrar of Co-operative Societies, Karn
May 03, 2006
Reserve Bank Cancels the Licence of the Mahila Nagrik Sahkari Bank Maryadit, Khargone, Madhya Pradesh
In view of the fact that the Mahila Nagrik Sahkari Bank Maryadit, Khargone , Madhya Pradesh had ceased to be solvent, all efforts to revive it in close consultation with the Government of Madhya Pradesh had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on May 2, 2006 . The Registrar of Co-operative Societies, Madhya Pradesh has a
In view of the fact that the Mahila Nagrik Sahkari Bank Maryadit, Khargone , Madhya Pradesh had ceased to be solvent, all efforts to revive it in close consultation with the Government of Madhya Pradesh had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on May 2, 2006 . The Registrar of Co-operative Societies, Madhya Pradesh has a
Apr 26, 2006
RBI penalises Tamilnad Mercantile Bank
The Reserve Bank of India has, in exercise of powers vested in it under the provisions of Section 47A(1)(b) of the Banking Regulation Act, 1949, imposed a penalty of Rs. 5.00 Lakh (Rupees Five Lakh only) on the Tamilnad Mercantile Bank Ltd. The penalty has been levied for violation of RBI regulations in not ensuring end-use of bank's funds lent to various borrowers which was also facilitated by not ensuring diligent compliance with know your customer (KYC) norms in op
The Reserve Bank of India has, in exercise of powers vested in it under the provisions of Section 47A(1)(b) of the Banking Regulation Act, 1949, imposed a penalty of Rs. 5.00 Lakh (Rupees Five Lakh only) on the Tamilnad Mercantile Bank Ltd. The penalty has been levied for violation of RBI regulations in not ensuring end-use of bank's funds lent to various borrowers which was also facilitated by not ensuring diligent compliance with know your customer (KYC) norms in op
Mar 21, 2006
RBI Cancels the Licence of The Hyderabad Cooperative Urban Bank Ltd., Yakutpura, Hyderabad, (Andhra Pradesh)
In view of the fact that the Hyderabad Cooperative Urban Bank Ltd., Yakutpura, Hyderabad, (Andhra Pradesh) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Andhra Pradesh had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on March 7, 2006. Immediately on cancellation of th
In view of the fact that the Hyderabad Cooperative Urban Bank Ltd., Yakutpura, Hyderabad, (Andhra Pradesh) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Andhra Pradesh had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order, canceling its licence to the bank after the close of business on March 7, 2006. Immediately on cancellation of th
Mar 09, 2006
Reserve Bank Cancels the Licence of The Dabhoi Nagrik Sahakari Bank Ltd., Dabhoi, Gujarat
In view of the fact that the Dabhoi Nagrik Sahakari Bank Ltd., Dabhoi Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on March 7,2006 . The Registrar of Co-operative Societies, Gujarat has also been requested to issu
In view of the fact that the Dabhoi Nagrik Sahakari Bank Ltd., Dabhoi Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on March 7,2006 . The Registrar of Co-operative Societies, Gujarat has also been requested to issu
Feb 16, 2006
Reserve Bank Cancels the Licence of The Dhansura People's Co-operative Bank Ltd., Dhansura, Gujarat
In view of the fact that the Dhansura People's Co-operative Bank Ltd., Dhansura Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on February 15, 2006 . The Registrar of Co-operative Societies, Gujarat has also been re
In view of the fact that the Dhansura People's Co-operative Bank Ltd., Dhansura Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order cancelling its licence to the bank after the close of business on February 15, 2006 . The Registrar of Co-operative Societies, Gujarat has also been re
Jan 24, 2006
The Ganesh Bank of Kurundwad Ltd. branches to operate as The Federal Bank Ltd branches from January 25, 2006
The Government of India has today sanctioned the Scheme for the amalgamation of The Ganesh Bank of Kurundwad Ltd., with The Federal Bank Ltd. The amalgamation will come into force on January 25, 2006. All the branches of The Ganesh Bank of Kurundwad Ltd., will function as branches of The Federal Bank Ltd., with effect from this date. Customers, including depositors of The Ganesh Bank of Kurundwad Ltd., will be able to operate their accounts as customers of The Federal
The Government of India has today sanctioned the Scheme for the amalgamation of The Ganesh Bank of Kurundwad Ltd., with The Federal Bank Ltd. The amalgamation will come into force on January 25, 2006. All the branches of The Ganesh Bank of Kurundwad Ltd., will function as branches of The Federal Bank Ltd., with effect from this date. Customers, including depositors of The Ganesh Bank of Kurundwad Ltd., will be able to operate their accounts as customers of The Federal
Jan 07, 2006
GOI places Ganesh Bank of Kurundwad Ltd under Moratorium from Close of business on January 7, 2006
On an application of the Reserve Bank of India, the Central Government has today issued an Order of Moratorium in respect of the Ganesh Bank of Kurundwad Ltd Registered Office: Kurundwad, Kurundwad –416 106, Kolhapur (District), Maharashtra. The Order of Moratorium has been passed by the Central Government in the public interest, in the interest of depositors and the banking system. The moratorium will be effective from the close of business on Saturday January 7, 200
On an application of the Reserve Bank of India, the Central Government has today issued an Order of Moratorium in respect of the Ganesh Bank of Kurundwad Ltd Registered Office: Kurundwad, Kurundwad –416 106, Kolhapur (District), Maharashtra. The Order of Moratorium has been passed by the Central Government in the public interest, in the interest of depositors and the banking system. The moratorium will be effective from the close of business on Saturday January 7, 200
Dec 14, 2005
Reserve Bank Cancels the Licence of The Janata Co-operative Bank Ltd., Nadiad, Gujarat
In view of the fact that The Janata Co-operative Bank Ltd., Nadiad, Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India, on December 09, 2005 at 11.00 a. m. delivered the order cancelling its licence to the bank. The Registrar of Co-operative Societies, Gujarat has also been requested to issue an order
In view of the fact that The Janata Co-operative Bank Ltd., Nadiad, Gujarat, had ceased to be solvent, all efforts to revive it in close consultation with the Government of Gujarat had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India, on December 09, 2005 at 11.00 a. m. delivered the order cancelling its licence to the bank. The Registrar of Co-operative Societies, Gujarat has also been requested to issue an order
Dec 07, 2005
Reserve Bank Cancels the Licence of Nagrik Sahakari Bank Maryadit, Ratlam, (Madhya Pradesh)
In view of the fact that the Nagrik Sahakari Bank Maryadit, Ratlam, (Madhya Pradesh) had ceased to be solvent, efforts to revive it in consultation with the Government of Madhya Pradesh had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India, on December 7, 2005, delivered the order canceling its licence to the bank. The Registrar of Cooperative Societies, Madhya Pradesh has also been requested to issue a
In view of the fact that the Nagrik Sahakari Bank Maryadit, Ratlam, (Madhya Pradesh) had ceased to be solvent, efforts to revive it in consultation with the Government of Madhya Pradesh had failed and the depositors of the bank were being inconvenienced by continued uncertainty, the Reserve Bank of India, on December 7, 2005, delivered the order canceling its licence to the bank. The Registrar of Cooperative Societies, Madhya Pradesh has also been requested to issue a
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