Press Releases - આરબીઆઈ - Reserve Bank of India
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Regulating Co-operative Banking-Announcement
Press Releases
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મે 31, 2011Reserve Bank Cancels the Licence of Chopda Urban Co-operative Bank Ltd., Jalgaon (Maharashtra)In view of the fact that Chopda Urban Co-operative Bank Ltd, Jalgaon, 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 before commencement of business on May 24, 2011. The Registrar of Co-operative Societies, Maharashtra has also been reqIn view of the fact that Chopda Urban Co-operative Bank Ltd, Jalgaon, 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 before commencement of business on May 24, 2011. The Registrar of Co-operative Societies, Maharashtra has also been req
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મે 26, 2011The Unava Nagarik Sahakari Bank Ltd., Unava - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Unava Nagarik Sahakari Bank Ltd., Unava, Dist. Mehsana, Gujarat in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions by non-adherence to Anti Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice toThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Unava Nagarik Sahakari Bank Ltd., Unava, Dist. Mehsana, Gujarat in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions by non-adherence to Anti Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice to
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મે 24, 2011The Commercial Co-operative Bank Ltd., Jamnagar - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on The Commercial Co-operative Bank Ltd., Jamnagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not displaying its name properly in all stationery and advertisements, for making donation beyond prescribed limit and for not implementing Know Your Costumer (KYC) norms. TheThe Reserve Bank of India has imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on The Commercial Co-operative Bank Ltd., Jamnagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not displaying its name properly in all stationery and advertisements, for making donation beyond prescribed limit and for not implementing Know Your Costumer (KYC) norms. The
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મે 19, 2011The Kheralu Nagarik Sahakari Bank Ltd., Kheralu, Dist. Mehsana (Gujarat) - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Kheralu Nagarik Sahakari Bank Ltd., Kheralu, Dist. Mehsana (Gujarat), in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) by sanctioning hypothecation loans in violation of operational instructions issued by Reserve Bank of India and non-adherence to `Know Your Costumer' (KYCThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Kheralu Nagarik Sahakari Bank Ltd., Kheralu, Dist. Mehsana (Gujarat), in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) by sanctioning hypothecation loans in violation of operational instructions issued by Reserve Bank of India and non-adherence to `Know Your Costumer' (KYC
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મે 09, 2011The Randheja Commercial Co-operative Bank Ltd., Randheja Dist., Gandhinagar - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Randheja Commercial Co-operative Bank Ltd., Randheja Dist., Gandhinagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on implementation of `Know Your Costumer' (KYC) guidelines and donation exceeding the ceiling prescrThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Randheja Commercial Co-operative Bank Ltd., Randheja Dist., Gandhinagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on implementation of `Know Your Costumer' (KYC) guidelines and donation exceeding the ceiling prescr
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મે 09, 2011The Gandevi People's Co-operative Bank Limited, Navsari - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Gandevi People's Co-operative Bank Limited, Navsari in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not adhering to RBI instructions/directives on reporting of cash transactions above `10.00 lakh as required under Anti Money Laundering (AML) guidelines. The Reserve BaThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Gandevi People's Co-operative Bank Limited, Navsari in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not adhering to RBI instructions/directives on reporting of cash transactions above `10.00 lakh as required under Anti Money Laundering (AML) guidelines. The Reserve Ba
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મે 05, 2011The Limbasi Urban Co-operative Bank Limited, Limbasi, Dist. Kheda - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Limbasi Urban Co-operative Bank Limited, Limbasi Dist. Kheda, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions for reporting of cash transactions in excess of ` 10.00 lakh to Financial Intelligence Unit-India (The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Limbasi Urban Co-operative Bank Limited, Limbasi Dist. Kheda, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions for reporting of cash transactions in excess of ` 10.00 lakh to Financial Intelligence Unit-India (
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મે 05, 2011Ahmedabad District Central Co-operative Bank Ltd., Ahmedabad - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Ahmedabad District Central Co-operative Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violating guidelines issued by Reserve Bank of India on Know Your Customers (KYC) norms and Anti Money Laundering (AML) standards. The Reserve Bank of India had issThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Ahmedabad District Central Co-operative Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 46 read with Section 47A of the Banking Regulation Act, 1949 (AACS) for violating guidelines issued by Reserve Bank of India on Know Your Customers (KYC) norms and Anti Money Laundering (AML) standards. The Reserve Bank of India had iss
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મે 04, 2011Chopda People's Co-operative Bank Ltd., Jalgaon - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Chopda People's Co-operative Bank Ltd., Jalgaon, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating the provision of Section 5 (ccv) of the Banking Regulation Act, 1949 (AACS) and violation of Reserve Bank of India directive on unsecured advances. The RThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Chopda People's Co-operative Bank Ltd., Jalgaon, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating the provision of Section 5 (ccv) of the Banking Regulation Act, 1949 (AACS) and violation of Reserve Bank of India directive on unsecured advances. The R
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એપ્રિલ 29, 2011Manipal Co-operative Bank Ltd., Manipal, Karnataka - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Manipal Co-operative Bank Ltd., Manipal, Karnataka in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating Reserve Bank of India directives/instructions by granting loans for real estate purpose exceeding the single party exposure limit of 15 per cent of its capital fuThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Manipal Co-operative Bank Ltd., Manipal, Karnataka in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating Reserve Bank of India directives/instructions by granting loans for real estate purpose exceeding the single party exposure limit of 15 per cent of its capital fu
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એપ્રિલ 28, 2011RBI releases Discussion Paper on Deregulation of Savings Bank Deposit RateAs indicated in the Second Quarter Review of Monetary Policy 2010-11 on November 2, 2010, the Reserve Bank of India has today released on its website a Discussion Paper on ‘Deregulation of Savings Bank Deposit Interest Rate’. In the light of pros and cons of deregulation of savings deposit interest rate as set out in the Discussion Paper, the Reserve Bank has sought feedback from the general public on the following issues: Should savings deposit interest rate be deregAs indicated in the Second Quarter Review of Monetary Policy 2010-11 on November 2, 2010, the Reserve Bank of India has today released on its website a Discussion Paper on ‘Deregulation of Savings Bank Deposit Interest Rate’. In the light of pros and cons of deregulation of savings deposit interest rate as set out in the Discussion Paper, the Reserve Bank has sought feedback from the general public on the following issues: Should savings deposit interest rate be dereg
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એપ્રિલ 25, 2011The Bhuj Mercantile Co-operative Bank Ltd., Bhuj, Dist. Kutch - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Bhuj Co-operative Bank Ltd., Bhuj, Dist. Kutch. The penalty was imposed for various violations of RBI instructions relating to Know Yours Customer (KYC) norms, Anti-Money Laundering (AML) guidelines, temporary overdrafts (TOD) and use of the bank's name without the word `Co-operative'. The Reserve Bank had issued a show cause notice to The Bhuj Co-operative Bank Ltd.The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Bhuj Co-operative Bank Ltd., Bhuj, Dist. Kutch. The penalty was imposed for various violations of RBI instructions relating to Know Yours Customer (KYC) norms, Anti-Money Laundering (AML) guidelines, temporary overdrafts (TOD) and use of the bank's name without the word `Co-operative'. The Reserve Bank had issued a show cause notice to The Bhuj Co-operative Bank Ltd.
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એપ્રિલ 25, 2011Independence Co-operative Bank Ltd., Nasik - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Independence Co-operative Bank Ltd., 6, 1st Floor, Memon Chamber's, Tilak Path, Nasik - 422 001 in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directive on Directors related loans. The Reserve Bank of India had issued a show cause noticThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Independence Co-operative Bank Ltd., 6, 1st Floor, Memon Chamber's, Tilak Path, Nasik - 422 001 in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directive on Directors related loans. The Reserve Bank of India had issued a show cause notic
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એપ્રિલ 21, 2011Reserve Bank Cancels the Licence of Shri Balaji Co-operative Bank Ltd., Nashik (Maharashtra)In view of the fact that Shri Balaji Co-operative 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 cancelling its licence to the bank before commencement of business on April 07, 2011. The Registrar of Co-operative Societies, Maharashtra has also been reqIn view of the fact that Shri Balaji Co-operative 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 cancelling its licence to the bank before commencement of business on April 07, 2011. The Registrar of Co-operative Societies, Maharashtra has also been req
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એપ્રિલ 19, 2011Dwarakadas Mantri Nagari Sahakari Bank Ltd., Beed, Dist. Beed - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Dwarakadas Mantri Nagari Sahakari Bank Ltd., Beed, Dist. Beed in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating Reserve Bank of India directives/instructions relating to "Loans/Advances to Directors/their relatives/concerns in which they are interested". The ReseThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Dwarakadas Mantri Nagari Sahakari Bank Ltd., Beed, Dist. Beed in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violating Reserve Bank of India directives/instructions relating to "Loans/Advances to Directors/their relatives/concerns in which they are interested". The Rese
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એપ્રિલ 15, 2011The Siddhi Co-operative Bank Ltd., Ahmedabad - PenalisedThe Reserve Bank of India, imposed a monetary penalty of Rs. 5.00 lakh (Rupees five lakh only) on The Siddhi Co-operative Bank Ltd., Ahmedabad. The penalty was imposed for violation of RBI instructions/directions on Know Your Customer (KYC) / Anti Money Laundering (AML) and for submitting improper compliance of the observations made in its last inspection report. The Reserve Bank had issued a show cause notice to The Siddhi Co-operative Bank Ltd. The bank submitted aThe Reserve Bank of India, imposed a monetary penalty of Rs. 5.00 lakh (Rupees five lakh only) on The Siddhi Co-operative Bank Ltd., Ahmedabad. The penalty was imposed for violation of RBI instructions/directions on Know Your Customer (KYC) / Anti Money Laundering (AML) and for submitting improper compliance of the observations made in its last inspection report. The Reserve Bank had issued a show cause notice to The Siddhi Co-operative Bank Ltd. The bank submitted a
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એપ્રિલ 15, 2011Shri Vinayak Sahakari Bank Ltd., Ahmedabad - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Shri Vinayak Sahakari Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on unsecured advances, Know Your Customers (KYC) norms and Anti Money Laundering (AML) guidelines, shortage in cash balanceThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Shri Vinayak Sahakari Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on unsecured advances, Know Your Customers (KYC) norms and Anti Money Laundering (AML) guidelines, shortage in cash balance
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એપ્રિલ 15, 2011The Suvikas People's Co-operative Bank Ltd., Ahmedabad - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Suvikas Co-operative Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on Know Your Customers (KYC). The Reserve Bank of India had issued a show cause notice to the bank, in response to whichThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Suvikas Co-operative Bank Ltd., Ahmedabad, Gujarat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on Know Your Customers (KYC). The Reserve Bank of India had issued a show cause notice to the bank, in response to which
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એપ્રિલ 15, 2011The Botad People's Co-operative Bank Limited, Botad, Dist. Bhavnagar, Gujarat - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Botad People's Co-operative Bank Limited, Botad, Dist. Bhavnagar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violations of Reserve Bank of India instructions in respect of reporting of cash transactions above ` 10.00 lakh to Financial Intelligence Unit-IThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Botad People's Co-operative Bank Limited, Botad, Dist. Bhavnagar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violations of Reserve Bank of India instructions in respect of reporting of cash transactions above ` 10.00 lakh to Financial Intelligence Unit-I
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એપ્રિલ 13, 2011The Salal Sarvoday Nagarik Sahakari Bank Limited, Salal, Dist. Sabarkantha, Gujarat - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on The Salal Sarvoday Nagrik Sahakari Bank Limited, Salal, Dist. Sabarkantha, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on submission of reports of cash transactions above ` 10.00 lakh to Financial Intelligence UThe Reserve Bank of India has imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on The Salal Sarvoday Nagrik Sahakari Bank Limited, Salal, Dist. Sabarkantha, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on submission of reports of cash transactions above ` 10.00 lakh to Financial Intelligence U
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એપ્રિલ 13, 2011The Kushtagi Pattana Sahakara Bank Niyanit, Kushtagi, Dist. Koppal - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Kushtagi Pattana Sahakara Bank Niyanit, Kushtagi, Dist. Koppal, Karnataka in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 as applicable to Co-operative Societies (AACS) for violation of the provisions of Section 36(1)(a) of the Banking Regulation Act, 1949 (AACS) relating to grThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Kushtagi Pattana Sahakara Bank Niyanit, Kushtagi, Dist. Koppal, Karnataka in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 as applicable to Co-operative Societies (AACS) for violation of the provisions of Section 36(1)(a) of the Banking Regulation Act, 1949 (AACS) relating to gr
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એપ્રિલ 13, 2011The Ankola Urban Cooperative Bank Limited, Ankola, Dist. Uttara Kannada - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on The Ankola Urban Co-operative Bank Limited, Ankola, Dist. Uttara Kannada, Karnataka in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of the provisions of Section 36(1)(a) of the Banking Regulation Act, 1949 (AACS) relating to sanctioning of unsecured advances inThe Reserve Bank of India has imposed a monetary penalty of ` 2.00 lakh (Rupees two lakh only) on The Ankola Urban Co-operative Bank Limited, Ankola, Dist. Uttara Kannada, Karnataka in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of the provisions of Section 36(1)(a) of the Banking Regulation Act, 1949 (AACS) relating to sanctioning of unsecured advances in
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એપ્રિલ 11, 2011The Rander People's Cooperative Bank Limited, Rander, Dist. Surat, Gujarat - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Rander People's Co-operative Bank Limited, Rander, Dist. Surat, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for certain violation of Reserve Bank of India instructions by non-adherence to Anti Money Laundering (AML) guidelines in regard to submission of reporThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Rander People's Co-operative Bank Limited, Rander, Dist. Surat, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for certain violation of Reserve Bank of India instructions by non-adherence to Anti Money Laundering (AML) guidelines in regard to submission of repor
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એપ્રિલ 11, 2011Shree Mahalaxmi Mercantile Cooperative Bank Limited, Dabhoi, Dist. Vadodara, Gujarat - PenalisedThe Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shree Mahalaxmi Mercantile Co-operative Bank Limited, Dabhoi, Dist. Vadodara, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of operational instructions by sanctioning fresh loans and advances. The Reserve Bank of India had issued a show cause notice toThe Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shree Mahalaxmi Mercantile Co-operative Bank Limited, Dabhoi, Dist. Vadodara, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of operational instructions by sanctioning fresh loans and advances. The Reserve Bank of India had issued a show cause notice to
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એપ્રિલ 08, 2011Reserve Bank of India penalises Shree Savli Nagrik Sahakari Bank Ltd., District VadodaraThe Reserve Bank of India, 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 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shree Savli Nagrik Sahakari Bank Ltd., District Vadodara. The penalty was imposed for not adhering to Reserve Bank of India instructions/guidelines on Anti-Money Laundering (AML) guidelines. The Reserve Bank had issued a show causeThe Reserve Bank of India, 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 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shree Savli Nagrik Sahakari Bank Ltd., District Vadodara. The penalty was imposed for not adhering to Reserve Bank of India instructions/guidelines on Anti-Money Laundering (AML) guidelines. The Reserve Bank had issued a show cause
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એપ્રિલ 07, 2011Reserve Bank of India penalises Shree Bharat Co-operative Bank Ltd., VadodaraThe Reserve Bank of India, 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 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shree Bharat Co-operative Bank Ltd., Vadodara. The penalty was imposed for violation of Reserve Bank of India directives/guidelines by not adhering to Anti-Money Laundering (AML) guidelines, regarding submission of reports for cashThe Reserve Bank of India, 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 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Shree Bharat Co-operative Bank Ltd., Vadodara. The penalty was imposed for violation of Reserve Bank of India directives/guidelines by not adhering to Anti-Money Laundering (AML) guidelines, regarding submission of reports for cash
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એપ્રિલ 07, 2011Reserve Bank of India penalises Navsarjan Industrial Co-operative Bank Ltd., AmkleshwarThe Reserve Bank of India, 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 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Navsarjan Industrial Co-operative Bank Ltd., Ankleshwar. The penalty was imposed for not adhering to Anti-Money Laundering (AML) guidelines. The Reserve Bank had issued a show cause notice to the bank, in response to which the bankThe Reserve Bank of India, 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 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Navsarjan Industrial Co-operative Bank Ltd., Ankleshwar. The penalty was imposed for not adhering to Anti-Money Laundering (AML) guidelines. The Reserve Bank had issued a show cause notice to the bank, in response to which the bank
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એપ્રિલ 07, 2011Reserve Bank of India penalises The Waghodia Urban Co-operative Bank Ltd., District VadodaraThe Reserve Bank of India, 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 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Waghodia Urban Co-operative Bank Limited, District Vadodara. The penalty was imposed for violation of Reserve Bank of India directives/guidelines by not adhering to Anti-Money Laundering (AML) guidelines. The Reserve Bank had isThe Reserve Bank of India, 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 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Waghodia Urban Co-operative Bank Limited, District Vadodara. The penalty was imposed for violation of Reserve Bank of India directives/guidelines by not adhering to Anti-Money Laundering (AML) guidelines. The Reserve Bank had is
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એપ્રિલ 05, 2011Reserve Bank of India penalises The Mehsana Urban Co-operative Bank Ltd., Mehsana (Gujarat)The Reserve Bank of India, 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 (AACS), imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on The Mehsana Urban Co-operative Bank Ltd., Mehsana (Gujarat) The penalty was imposed for violation of Reserve Bank instructions on membership of co-operative societies, conduct of non-banking business, use of work "Bank" in the nameThe Reserve Bank of India, 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 (AACS), imposed a monetary penalty of `5.00 lakh (Rupees five lakh only) on The Mehsana Urban Co-operative Bank Ltd., Mehsana (Gujarat) The penalty was imposed for violation of Reserve Bank instructions on membership of co-operative societies, conduct of non-banking business, use of work "Bank" in the name
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એપ્રિલ 04, 2011Reserve Bank of India penalises The Jamnagar Peoples Co-operative Bank Ltd., JamnagarThe Reserve Bank of India, 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 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Jamnagar Peoples Co-operative Bank Ltd., Jamnagar. The penalty was imposed for violation of the Reserve Bank instructions in respect of reporting of cash transactions above `10.00 lakh to FIU-IND, New Delhi. The Reserve Bank hadThe Reserve Bank of India, 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 (AACS), imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on The Jamnagar Peoples Co-operative Bank Ltd., Jamnagar. The penalty was imposed for violation of the Reserve Bank instructions in respect of reporting of cash transactions above `10.00 lakh to FIU-IND, New Delhi. The Reserve Bank had
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માર્ચ 29, 2011The Sathamba People's Co-operative Bank Ltd., Sathamba, District Sabarkantha - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Sathamba People's Co-operative Bank Ltd., Sathamba, District Sabarkantha, Gujarat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on implementation of Know Your Customers (KYC)/Anti-Money Laundering (AML) guidelines andThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Sathamba People's Co-operative Bank Ltd., Sathamba, District Sabarkantha, Gujarat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on implementation of Know Your Customers (KYC)/Anti-Money Laundering (AML) guidelines and
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માર્ચ 28, 2011Shree Limbdi Nagrik Sahakari Bank Limited, Limbdi, Dist. Surendranagar - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Shree Limbdi Nagrik Sahakari Bank Limited, Limbdi, Dist. Surendranagar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for certain violations viz. non-implementation of Know Your Customer (KYC) norms, non-submission of Cash Transaction Report (CTR)/Suspicious TransaThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Shree Limbdi Nagrik Sahakari Bank Limited, Limbdi, Dist. Surendranagar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for certain violations viz. non-implementation of Know Your Customer (KYC) norms, non-submission of Cash Transaction Report (CTR)/Suspicious Transa
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માર્ચ 28, 2011Nagrik Sahakari Bank Limited, Babra, Dist. Amreli - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Nagrik Sahakari Bank Limited, Babra, Dist. Amreli, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions in respect of reporting of cash transaction above ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), NewThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Nagrik Sahakari Bank Limited, Babra, Dist. Amreli, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions in respect of reporting of cash transaction above ` 10.00 lakh to Financial Intelligence Unit-India (FIU-IND), New
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માર્ચ 28, 2011The Patdi Nagrik Sahakari Bank Limited, Patdi, Dist. Surendranagar - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Patdi Nagrik Sahakari Bank Limited, Patdi, Dist. Surendranagar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for certain violations viz. non-adherence to Know Your Customer (KYC) norms/Anti-Money Laundering (AML) guidelines, not filing of Cash Transaction RepoThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Patdi Nagrik Sahakari Bank Limited, Patdi, Dist. Surendranagar, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for certain violations viz. non-adherence to Know Your Customer (KYC) norms/Anti-Money Laundering (AML) guidelines, not filing of Cash Transaction Repo
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માર્ચ 25, 2011The Bhabhar Vibhag Nagrik Sahakari Bank Limited, Bhabhar, Dist. Banaskantha - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Bhabhar Vibhag Nagrik Sahakari Bank Limited, Bhabhar, Dist. Banaskantha, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions on maintenance of records of cash transactions over ` 10.00 lakh and reporting the sameThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Bhabhar Vibhag Nagrik Sahakari Bank Limited, Bhabhar, Dist. Banaskantha, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's instructions on maintenance of records of cash transactions over ` 10.00 lakh and reporting the same
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માર્ચ 23, 2011The Uttarsanda People Co-operative Bank Limited, Uttarsanda, Dist. Kheda - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Uttarsands People Co-operative Bank Limited, Uttarsanda, Dist. Kheda, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's guidelines of requirement of reporting of cash transactions in excess of ` 10.00 lakh to Financial IntelThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Uttarsands People Co-operative Bank Limited, Uttarsanda, Dist. Kheda, Gujarat, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's guidelines of requirement of reporting of cash transactions in excess of ` 10.00 lakh to Financial Intel
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માર્ચ 17, 2011Saptagiri Gramin Bank, Chittoor - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Saptagiri Gramin Bank, Chittoor, in exercise of powers vested in it under the provisions of Section 46 read with Section 47 A of the Banking Regulation Act, 1949 for violation of Reserve Bank of India's directives on Know Your Customer Guidelines. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank submitted a written replyThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on Saptagiri Gramin Bank, Chittoor, in exercise of powers vested in it under the provisions of Section 46 read with Section 47 A of the Banking Regulation Act, 1949 for violation of Reserve Bank of India's directives on Know Your Customer Guidelines. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank submitted a written reply
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માર્ચ 14, 2011The Jai Bhavani Sahakari Bank Limited, Pune - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Jai Bhavani Sahakari Bank Limited, Pune, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directive on Directors related loans. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank submThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Jai Bhavani Sahakari Bank Limited, Pune, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directive on Directors related loans. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank subm
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માર્ચ 08, 2011The Muslim Co-operative Bank Ltd., Pune, Maharashtra - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Muslim Co-operative Bank Ltd., Pune, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India. The bank had violated the RBI instructions by making donations over and above the prescribed limit of 1The Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Muslim Co-operative Bank Ltd., Pune, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India. The bank had violated the RBI instructions by making donations over and above the prescribed limit of 1
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માર્ચ 04, 2011Madheshwari Urban Development Co-operative Bank Ltd., Madha, Maharashtra - PenalisedThe Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Madheshwari Urban Development Co-operative Bank Ltd., Madha, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directive on : (a) sanctioning unsecured advances (salary loans) beyond the prescribed ceiling of `1.00 lakh (b) iThe Reserve Bank of India has imposed a monetary penalty of `1.00 lakh (Rupees one lakh only) on Madheshwari Urban Development Co-operative Bank Ltd., Madha, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directive on : (a) sanctioning unsecured advances (salary loans) beyond the prescribed ceiling of `1.00 lakh (b) i
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માર્ચ 04, 2011Sulaimani Co-operative Bank Limited, Vadodara, Dist. Vadodara - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Sulaimani Co-operative Bank Limited, Vadodara, Dist. Vadodara, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not adhering to operational instructions specifically issued to the bank by RBI, other instructions on ceiling on inter-bank deposits, inspection compliance andThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Sulaimani Co-operative Bank Limited, Vadodara, Dist. Vadodara, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for not adhering to operational instructions specifically issued to the bank by RBI, other instructions on ceiling on inter-bank deposits, inspection compliance and
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માર્ચ 01, 2011Shri Lodra Nagarik Sahakari Bank Ltd., Lodra, District Gandhinagar - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Shri Lodra Nagarik Sahakari Bank Ltd., Lodra, District Gandhinagar, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of RBI instructions on implementation of Know Your Customers (KYC) norms and filing of Cash Transaction Report (CTR) with Financial Intelligence UThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Shri Lodra Nagarik Sahakari Bank Ltd., Lodra, District Gandhinagar, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of RBI instructions on implementation of Know Your Customers (KYC) norms and filing of Cash Transaction Report (CTR) with Financial Intelligence U
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ફેબ્રુ 28, 2011The Junagadh Commercial Co-operative Bank Ltd., Junagadh - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Junagadh Commercial Co-operative Bank Ltd., Junagadh in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Know Your Costomers (KYC) norms and Anti-Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice to the bank, in respoThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Junagadh Commercial Co-operative Bank Ltd., Junagadh in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Know Your Costomers (KYC) norms and Anti-Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice to the bank, in respo
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ફેબ્રુ 22, 2011The Jamnagar Mahila Sahakari Bank Ltd., Jamnagar - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Jamnagar Mahila Sahakari Bank Ltd., Jamnagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of RBI instructions on Anti-Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank suThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Jamnagar Mahila Sahakari Bank Ltd., Jamnagar in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of RBI instructions on Anti-Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notice to the bank, in response to which the bank su
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ફેબ્રુ 22, 2011Amreli Nagarik Sahkari Bank Ltd., Amreli - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Amreli Nagarik Sahkari Bank Ltd., Amreli in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of provisions of Section 5(ccv) of B.R.Act, 1949 (AACS) and RBI instructions on Anti-Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause notThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Amreli Nagarik Sahkari Bank Ltd., Amreli in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of provisions of Section 5(ccv) of B.R.Act, 1949 (AACS) and RBI instructions on Anti-Money Laundering (AML) guidelines. The Reserve Bank of India had issued a show cause not
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ફેબ્રુ 22, 2011Shri Mahila Sewa Sahakari Bank Ltd., Ahmedabad (Gujarat) - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Shri Mahila Sewa Sahakari Bank Ltd., Ahmedabad (Gujarat) in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on grant of unsecured advances in excess of the prescribed ceiling. The Reserve Bank of India had issued a show cause nThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Shri Mahila Sewa Sahakari Bank Ltd., Ahmedabad (Gujarat) in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on grant of unsecured advances in excess of the prescribed ceiling. The Reserve Bank of India had issued a show cause n
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ફેબ્રુ 22, 2011The Viramgam Mercantile Co-operative Bank Ltd., Viramgam, Dist. Ahmedabad - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Viramgam Mercantile Co-operative Bank Ltd., Viramgam, Dist. Ahmedabad in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of non-filing of Cash Transaction Report (CTR)/Suspicious Transaction Report (STR) to Financial Intelligence Unit-India (FIU-IND), New DelhiThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Viramgam Mercantile Co-operative Bank Ltd., Viramgam, Dist. Ahmedabad in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of non-filing of Cash Transaction Report (CTR)/Suspicious Transaction Report (STR) to Financial Intelligence Unit-India (FIU-IND), New Delhi
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ફેબ્રુ 21, 2011The Surat Mercantile Co-operative Bank Ltd., Surat, Dist. Surat - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Surat Mercantile Co-operative Bank Ltd., Surat, Dist. Surat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on disposal of non-banking assets, donations and purchasing of cheques beyond the ceiling of ` 0.20 lakh per inThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees five lakh only) on The Surat Mercantile Co-operative Bank Ltd., Surat, Dist. Surat in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on disposal of non-banking assets, donations and purchasing of cheques beyond the ceiling of ` 0.20 lakh per in
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ફેબ્રુ 21, 2011Urban Co-operative Bank Ltd., Cuttack - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Urban Co-operative Bank Ltd., Cuttack in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions relating to opening of the four collection counters without prior approval of Reserve Bank of India. The Reserve Bank of India had issuedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on Urban Co-operative Bank Ltd., Cuttack in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions relating to opening of the four collection counters without prior approval of Reserve Bank of India. The Reserve Bank of India had issued
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ફેબ્રુ 04, 2011The Ghoghamba Vibhag Nagrik Sahakari Bank Ltd., Ghoghamba, Dist. Panchmahal- PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Ghoghamba Vibhag Nagrik Sahakari Bank Ltd., Ghoghamba, Dist. Panchmahal in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on persistence of irregularities of previous inspection report and requirement of reporting of cashThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Ghoghamba Vibhag Nagrik Sahakari Bank Ltd., Ghoghamba, Dist. Panchmahal in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on persistence of irregularities of previous inspection report and requirement of reporting of cash
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ફેબ્રુ 04, 2011The Janata Co-op. Bank Ltd., Godhra, Dist. Panchmahal - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Janata Co-op. Bank Ltd., Godhra, Dist. Panchmahal in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on persistence of irregularities of previous inspection report and requirement of reporting of cash transactions in excessThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees one lakh only) on The Janata Co-op. Bank Ltd., Godhra, Dist. Panchmahal in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India instructions on persistence of irregularities of previous inspection report and requirement of reporting of cash transactions in excess
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જાન્યુ 21, 2011The Makarpura Industrial Co-operative Bank Ltd., Vadodara - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on The Makarpura Industrial Co-operative Bank Ltd., Vadodara in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/guidelines on advances to directors and their relatives, single borrower exposure ceiling, the donation ceiling of 1%,The Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on The Makarpura Industrial Co-operative Bank Ltd., Vadodara in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India directives/guidelines on advances to directors and their relatives, single borrower exposure ceiling, the donation ceiling of 1%,
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જાન્યુ 19, 2011RBI Measures to extend Credit Support to Micro Finance InstitutionsThe Reserve Bank of India has today advised certain relaxation to banks in its present restructuring guidelines in order to enable them to extend credit support to micro finance institutions (MFIs). The relaxation is purely a temporary measure and would be applicable to bank loans to MFIs restructured by banks up to March 31, 2011, the Reserve Bank has stated. Relaxation considered The Reserve Bank has asked banks to extend the regulatory asset classification benefitThe Reserve Bank of India has today advised certain relaxation to banks in its present restructuring guidelines in order to enable them to extend credit support to micro finance institutions (MFIs). The relaxation is purely a temporary measure and would be applicable to bank loans to MFIs restructured by banks up to March 31, 2011, the Reserve Bank has stated. Relaxation considered The Reserve Bank has asked banks to extend the regulatory asset classification benefit
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ડિસે 31, 2010Bombay Mercantile Co-operative Bank Ltd., Mumbai, Maharashtra - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India. The bank had violated the group exposure norms prescribed by RBI on June 21, 2005 by sanctioniThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India. The bank had violated the group exposure norms prescribed by RBI on June 21, 2005 by sanctioni
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ડિસે 24, 2010Rupee Co-operative Bank Ltd., Pune, Maharashtra - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on Rupee Co-operative Bank Ltd., Pune, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India.The bank had violated RBI directives by purchasing/discounting cheques beyond the ceiling of ` 0.25 lakh in cThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five lakh only) on Rupee Co-operative Bank Ltd., Pune, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of instructions/guidelines of the Reserve Bank of India.The bank had violated RBI directives by purchasing/discounting cheques beyond the ceiling of ` 0.25 lakh in c
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ડિસે 23, 2010Reserve Bank Cancels the Licence of The Golaghat Urban Co-operative Bank Ltd., Golaghat (Assam)In view of the fact that the Golaghat Urban Co-operative Bank Ltd., Golaghat (Assam), had ceased to be solvent, all efforts to revive it 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 December 16, 2010. The Registrar of Co-operative Societies, Government of Assam have also been requested to issue an order for winding up theIn view of the fact that the Golaghat Urban Co-operative Bank Ltd., Golaghat (Assam), had ceased to be solvent, all efforts to revive it 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 December 16, 2010. The Registrar of Co-operative Societies, Government of Assam have also been requested to issue an order for winding up the
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ડિસે 23, 2010Arjun Urban Co-operative Bank Ltd., Solapur, Maharashtra - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees One lakh only) on Arjun Urban Co-operative Bank Ltd., Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directives on exposure limit, unsecured loans and director related loans. The Reserve Bank of India had issued a show cause noticeThe Reserve Bank of India has imposed a monetary penalty of ` 1.00 lakh (Rupees One lakh only) on Arjun Urban Co-operative Bank Ltd., Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (AACS) for violation of Reserve Bank of India's directives on exposure limit, unsecured loans and director related loans. The Reserve Bank of India had issued a show cause notice
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ડિસે 10, 2010Sampada Sahakari Bank Ltd., Pune, Maharashtra - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 50000.00 (Rupees Fifty thousand only) on Sampada Sahakari Bank Ltd., Pune, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of Reserve Bank of India's directive under section 41 of RBI Act, 1934 and section 18, 19, 20, 23, 24, 26, 27, 29 and 31 of Banking Regulation Act, 1949 (AACS) read withThe Reserve Bank of India has imposed a monetary penalty of ` 50000.00 (Rupees Fifty thousand only) on Sampada Sahakari Bank Ltd., Pune, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of Reserve Bank of India's directive under section 41 of RBI Act, 1934 and section 18, 19, 20, 23, 24, 26, 27, 29 and 31 of Banking Regulation Act, 1949 (AACS) read with
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નવે 29, 2010RBI cautions Public about Unauthorised Companies collecting DepositsThe Reserve Bank of India has today cautioned members of public about unauthorised companies which collect money from public stating that they have been authorised by the Reserve Bank to do so. The Reserve Bank stated that it has published on its website (/en/web/rbi/regulations-non-banking/other-links/list-of-nbfcs) a list of non-banking finance companies (NBFCs) which are permitted to accept deposits. No NBFC outside of this list can accept deposits from public. DoiThe Reserve Bank of India has today cautioned members of public about unauthorised companies which collect money from public stating that they have been authorised by the Reserve Bank to do so. The Reserve Bank stated that it has published on its website (/en/web/rbi/regulations-non-banking/other-links/list-of-nbfcs) a list of non-banking finance companies (NBFCs) which are permitted to accept deposits. No NBFC outside of this list can accept deposits from public. Doi
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નવે 25, 2010The Bantra Co-operative Bank Ltd., Howrah - PenalisedThe Reserve Bank of India has imposed a penalty of ` 2.00 lakh (Rupees Two Lakh only) on The Bantra Co-operative Bank Ltd., Howrah in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for allowing withdrawals in Current and Savings Bank accounts in excess ofThe Reserve Bank of India has imposed a penalty of ` 2.00 lakh (Rupees Two Lakh only) on The Bantra Co-operative Bank Ltd., Howrah in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for allowing withdrawals in Current and Savings Bank accounts in excess of
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નવે 22, 2010RBI cancels the Licence of The Boriavi People's Co-operative Bank Ltd., Boriavi, (Gujarat)The Reserve Bank of India has cancelled the licence of the Boriavi People's Co-operative Bank Ltd., Boriavi, Gujarat. The order of cancellation of the licence was given after the close of business on November 19, 2010. The Reserve Bank has also requested the Registrar of Co-operative Societies, Gujarat to issue an order for winding up the bank and appoint a liquidator. Consequent to the cancellation of its licence, The Boriavi People's Co-operative Bank Ltd., Boriavi,The Reserve Bank of India has cancelled the licence of the Boriavi People's Co-operative Bank Ltd., Boriavi, Gujarat. The order of cancellation of the licence was given after the close of business on November 19, 2010. The Reserve Bank has also requested the Registrar of Co-operative Societies, Gujarat to issue an order for winding up the bank and appoint a liquidator. Consequent to the cancellation of its licence, The Boriavi People's Co-operative Bank Ltd., Boriavi,
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નવે 22, 2010Kasundia Co-operative Bank Ltd., Howrah - PenalisedThe Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Kasundia Co-operative Bank Ltd., Howrah in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for resorting to borrowings without prior approval from Reserve Bank of IndiThe Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Kasundia Co-operative Bank Ltd., Howrah in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for resorting to borrowings without prior approval from Reserve Bank of Indi
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નવે 16, 2010Cosmos Co-operative Bank Ltd., Pune, Maharashtra - PenalisedThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five Lakh only) on Cosmos Co-operative Bank Ltd., Pune, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies), for violation of instructions/guidelines of the Reserve Bank of India. The bank had violated Reserve Bank of India directives by sanctioningThe Reserve Bank of India has imposed a monetary penalty of ` 5.00 lakh (Rupees Five Lakh only) on Cosmos Co-operative Bank Ltd., Pune, Maharashtra, in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to co-operative societies), for violation of instructions/guidelines of the Reserve Bank of India. The bank had violated Reserve Bank of India directives by sanctioning
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ઑક્ટો 07, 2010RBI sets up Committee on Licensing of Urban Co-operative BanksThe Reserve Bank of India has constituted an Expert Committee under the Chairmanship of Shri Y.H. Malegam for studying the advisability of granting new urban co-operative banking licences under Section 22 of the Banking Regulation Act, 1949 [As Applicable to Co-operative Societies (AACS)] The terms of reference of the Committee are as under : To review the role and performance of UCBs over the last decade and especially since the adoption of VISION document in 2004, TThe Reserve Bank of India has constituted an Expert Committee under the Chairmanship of Shri Y.H. Malegam for studying the advisability of granting new urban co-operative banking licences under Section 22 of the Banking Regulation Act, 1949 [As Applicable to Co-operative Societies (AACS)] The terms of reference of the Committee are as under : To review the role and performance of UCBs over the last decade and especially since the adoption of VISION document in 2004, T
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ઑક્ટો 06, 2010Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur, Maharashtra - PenalisedThe Reserve Bank of India has imposed a penalty of ` 5.00 lakh (Rupees Five Lakh only) on Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the Reserve Bank of India's instructions on investment in government securities and violation of supervisory action imposed on the bank vide its letter datedThe Reserve Bank of India has imposed a penalty of ` 5.00 lakh (Rupees Five Lakh only) on Solapur Nagari Audyogik Sahakari Bank Niyamit, Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the Reserve Bank of India's instructions on investment in government securities and violation of supervisory action imposed on the bank vide its letter dated
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ઑક્ટો 04, 2010Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra - PenalisedThe Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provision of Section 35(2) of the Act, ibid. The Reserve Bank of India had issued a show cause notice to the bank in response to which the bank had submitted writteThe Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Pen Co-operative Urban Bank Ltd., Pen, Raigad, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provision of Section 35(2) of the Act, ibid. The Reserve Bank of India had issued a show cause notice to the bank in response to which the bank had submitted writte
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સપ્ટે 06, 2010Reserve Bank Cancels the Licence of Anyonya Co-operative Bank Ltd., Vadodra (Gujarat)In view of the fact that Anyonya Co-operative Bank Ltd. Vadodra, 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 September 03, 2010. The Registrar of Co-operative Societies, Gujarat has also been requested to issueIn view of the fact that Anyonya Co-operative Bank Ltd. Vadodra, 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 September 03, 2010. The Registrar of Co-operative Societies, Gujarat has also been requested to issue
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ઑગસ્ટ 11, 2010Brahmadeodada Mane Sahakari Bank Ltd., Solapur - PenalisedThe Reserve Bank of India has imposed a penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Brahmadeodada Mane Sahakari Bank Ltd., Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) for violation of the guidelines for granting unsecured credit facilities, allowing remission of debt in various borrowal accounts, waiving bThe Reserve Bank of India has imposed a penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Brahmadeodada Mane Sahakari Bank Ltd., Solapur, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) for violation of the guidelines for granting unsecured credit facilities, allowing remission of debt in various borrowal accounts, waiving b
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ઑગસ્ટ 05, 2010Reserve Bank Cancels the Licence of the Belgaum Catholic Co-operative Bank Ltd., Belgaum, KarnatakaIn view of the fact that the Belgaum Catholic Co-operative Bank Ltd., Belgaum (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 03, 2010. The Registrar of Co-operative Societies, Karnataka hasIn view of the fact that the Belgaum Catholic Co-operative Bank Ltd., Belgaum (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 03, 2010. The Registrar of Co-operative Societies, Karnataka has
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ઑગસ્ટ 02, 2010RBI releases Discussion Paper on Engagement of 'for-profit' Companies as Business Correspondents (BCs)The Reserve Bank of India today released on its website, a Discussion Paper on "Engagement of 'for profit' Companies as Business Correspondents (BCs)" to seek the views/comments of banks, non-banking financial institutions, ‘for-profit’ companies, regulators, academicians, NGOs and the public at large. Comments/feedback on the Discussion Paper may please be sent by August 20, 2010 to the Chief General Manager, Reserve Bank of India, Department of Banking Operations anThe Reserve Bank of India today released on its website, a Discussion Paper on "Engagement of 'for profit' Companies as Business Correspondents (BCs)" to seek the views/comments of banks, non-banking financial institutions, ‘for-profit’ companies, regulators, academicians, NGOs and the public at large. Comments/feedback on the Discussion Paper may please be sent by August 20, 2010 to the Chief General Manager, Reserve Bank of India, Department of Banking Operations an
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જુલાઈ 30, 2010Standard Chartered Bank - PenalisedThe Reserve Bank of India has imposed a penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Standard Chartered Bank in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949. The penalty has been imposed for not furnishing within the stipulated time information pertaining to a foreign currency loan facility arranged by Standard Chartered Bank to an offshore, special purpose vehicle (SPV),The Reserve Bank of India has imposed a penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Standard Chartered Bank in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949. The penalty has been imposed for not furnishing within the stipulated time information pertaining to a foreign currency loan facility arranged by Standard Chartered Bank to an offshore, special purpose vehicle (SPV),
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જુલાઈ 29, 2010Bhandari Co-operative Bank Ltd., Dadar, Maharashtra - PenalisedThe Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Bhandari Co-operative Bank Ltd., Dadar, Maharashtra 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 the Reserve Bank of India's directives. The Bank had : sanctioned unsecured advances beyond the ceiling of Rs.50,000/- prescThe Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Bhandari Co-operative Bank Ltd., Dadar, Maharashtra 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 the Reserve Bank of India's directives. The Bank had : sanctioned unsecured advances beyond the ceiling of Rs.50,000/- presc
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જુલાઈ 20, 2010Reserve Bank Cancels the License of Vizianagaram Co-operative Bank Ltd. Vizianagaram, Andhra PradeshIn view of the fact that the operations of the Vizianagaram Co-operative Urban Bank Ltd. Vizianagaram, (Andhra Pradesh) were being carried out in a manner detrimental to the interest of its depositors and that of the public in general, its financial position was on the decline with no scope for revival in the foreseeable future and all efforts to ensure regulatory compliance in consultation with the Government of Andhra Pradesh had failed and the depositors were beingIn view of the fact that the operations of the Vizianagaram Co-operative Urban Bank Ltd. Vizianagaram, (Andhra Pradesh) were being carried out in a manner detrimental to the interest of its depositors and that of the public in general, its financial position was on the decline with no scope for revival in the foreseeable future and all efforts to ensure regulatory compliance in consultation with the Government of Andhra Pradesh had failed and the depositors were being
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જુલાઈ 01, 2010Vasai Vikas Sahakari Bank Ltd., Thane, Maharashtra - PenalisedThe Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Vasai Vikas Sahakari Bank Ltd., Thane, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of the Reserve Bank of India's directives by : i) not following KYC norms while opening the Current Account of a director relaThe Reserve Bank of India has imposed a monetary penalty of Rs.5.00 lakh (Rupees Five Lakh only) on Vasai Vikas Sahakari Bank Ltd., Thane, Maharashtra in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) for violation of the Reserve Bank of India's directives by : i) not following KYC norms while opening the Current Account of a director rela
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જૂન 22, 2010Reserve Bank Rejects the Licence Application of - The Ramkrishnapur Co-operative Bank Ltd., Howrah (West Bengal)In view of the fact that The Ramkrishnapur Co-operative Bank Ltd., Howrah (West Bengal), had ceased to be solvent, all efforts to revive it in close consultation with the Government of West Bengal had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order rejecting its application for licence to the bank after the close of business on June 17, 2010. The Registrar of Co-operative Societies, West BengaIn view of the fact that The Ramkrishnapur Co-operative Bank Ltd., Howrah (West Bengal), had ceased to be solvent, all efforts to revive it in close consultation with the Government of West Bengal had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of India delivered the order rejecting its application for licence to the bank after the close of business on June 17, 2010. The Registrar of Co-operative Societies, West Benga
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મે 10, 2010Reserve Bank Cancels the Licence of Vidarbha Urban Co-Operative Bank Ltd., Akola, (Maharashtra)In view of the fact that Vidarbha Urban Co-operative Bank Ltd., Akola, (Maharashtra) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra 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 on April 22, 2010 at 10.15 a.m. The Registrar of Co-operative Societies, Maharashtra has also been requeIn view of the fact that Vidarbha Urban Co-operative Bank Ltd., Akola, (Maharashtra) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra 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 on April 22, 2010 at 10.15 a.m. The Registrar of Co-operative Societies, Maharashtra has also been reque
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મે 07, 2010Reserve Bank Cancels the Licence of Parmatma Ek Sewak Nagrik Sahakari Bank Ltd., Nagpur, MaharashtraIn view of the fact that Parmatma Ek Sewak Nagrik Sahakari Bank Ltd., Nagpur, 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 after the close of business on April 27, 2010. The Registrar of Co-operative Societies, Maharashtra has also beIn view of the fact that Parmatma Ek Sewak Nagrik Sahakari Bank Ltd., Nagpur, 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 after the close of business on April 27, 2010. The Registrar of Co-operative Societies, Maharashtra has also be
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એપ્રિલ 20, 2010Reserve Bank Cancels the Licence of Rajeshwar Yuvak Vikas Sahakari Bank Ltd.,Satara, (Maharashtra)In view of the fact that Rajeshwar Yuvak Vikas Sahakari Bank Ltd.,Satara. (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 after the close of business on April 8, 2010. The Registrar of Co-operative Societies, Maharashtra State has alsoIn view of the fact that Rajeshwar Yuvak Vikas Sahakari Bank Ltd.,Satara. (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 after the close of business on April 8, 2010. The Registrar of Co-operative Societies, Maharashtra State has also
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એપ્રિલ 09, 2010Reserve Bank Cancels the Licence of National Co-operative Bank Ltd., Kurnool, Dist. Kurnool, (Andhra Pradesh)In view of the fact that National Co-operative Bank Ltd., Kurnool, Dist. Kurnool, (Andhra Pradesh) had defaulted in repayment of deposits, was a chronic defaulter in submission of statutory returns since 2005, had failed to produce audited balance sheets since 2005 and all efforts to ensure regulatory compliance in consultation with the Government of Andhra Pradesh had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of InIn view of the fact that National Co-operative Bank Ltd., Kurnool, Dist. Kurnool, (Andhra Pradesh) had defaulted in repayment of deposits, was a chronic defaulter in submission of statutory returns since 2005, had failed to produce audited balance sheets since 2005 and all efforts to ensure regulatory compliance in consultation with the Government of Andhra Pradesh had failed and the depositors were being inconvenienced by continued uncertainty, the Reserve Bank of In
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માર્ચ 29, 2010Reserve Bank Cancels the Licence of The Bahadarpur Urban Co-operative Bank Ltd., Bahadarpur, (Gujarat)In view of the fact that The Bahadarpur Urban Co-operative Bank Ltd., Bahadarpur (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 23, 2010 . The Registrar of Co-operative Societies, Gujarat has also been reIn view of the fact that The Bahadarpur Urban Co-operative Bank Ltd., Bahadarpur (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 23, 2010 . The Registrar of Co-operative Societies, Gujarat has also been re
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માર્ચ 29, 2010Reserve Bank Cancels the Licence of Champavati Urban Co-operative Bank Ltd, Beed (Maharashtra)In view of the fact that Champavati Urban Co-operative Bank Ltd, Beed, (Maharashtra) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra 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 on March 20, 2010 at 10.30 a.m. The Registrar of Co-operative Societies, Maharashtra has also been requeIn view of the fact that Champavati Urban Co-operative Bank Ltd, Beed, (Maharashtra) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra 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 on March 20, 2010 at 10.30 a.m. The Registrar of Co-operative Societies, Maharashtra has also been reque
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માર્ચ 29, 2010Reserve Bank Cancels the Licence of Hina Shahin Co-operative Urban Bank Ltd, Beed (Maharashtra)In view of the fact that Hina Shahin Co-operative Urban Bank Ltd, Beed, (Maharashtra) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra 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 on March 23, 2010 at 5.00 p.m. The Registrar of Co-operative Societies, Maharashtra has also been requeIn view of the fact that Hina Shahin Co-operative Urban Bank Ltd, Beed, (Maharashtra) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra 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 on March 23, 2010 at 5.00 p.m. The Registrar of Co-operative Societies, Maharashtra has also been reque
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માર્ચ 29, 2010Reserve Bank Cancels the Licence of Dhanashri Mahila Sahakari Bank Ltd., Miraj, Dist. Sangli, MaharashtraIn view of the fact that the Dhanashri Mahila Sahakari Bank Ltd., Miraj, Dist. Sangli, 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 after the close of business on March 12, 2010. The Registrar of Co-operative Societies, Maharashtra hIn view of the fact that the Dhanashri Mahila Sahakari Bank Ltd., Miraj, Dist. Sangli, 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 after the close of business on March 12, 2010. The Registrar of Co-operative Societies, Maharashtra h
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માર્ચ 26, 2010Reserve Bank Cancels the Licence of Shri Mahesh Sahakari Bank Ltd., Jalgaon, MaharashtraIn view of the fact that Shri Mahesh Sahakari Bank Ltd., Jalgaon, 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 after the close of business on March 19, 2010. The Registrar of Co-operative Societies, Maharashtra has also been requestedIn view of the fact that Shri Mahesh Sahakari Bank Ltd., Jalgaon, 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 after the close of business on March 19, 2010. The Registrar of Co-operative Societies, Maharashtra has also been requested
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માર્ચ 25, 2010Reserve Bank Cancels the Licence of The Samata Sahakari Bank Ltd., Nagpur, MaharashtraIn view of the fact that The Samata Sahakari Bank Ltd., Nagpur, Maharashtra had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra 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 19, 2010. The Registrar of Co-operative Societies, Maharashtra has also beenIn view of the fact that The Samata Sahakari Bank Ltd., Nagpur, Maharashtra had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra 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 19, 2010. The Registrar of Co-operative Societies, Maharashtra has also been
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માર્ચ 18, 2010Reserve Bank Cancels the Licence of Rahuri Peoples Co-operative Bank Ltd., Rahuri. MaharashtraIn view of the fact that Rahuri Peoples Co-operative Bank Ltd., Rahuri. 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 after the close of business on March 3, 2010. The Registrar of Co-operative Societies, Maharashtra State has also beeIn view of the fact that Rahuri Peoples Co-operative Bank Ltd., Rahuri. 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 after the close of business on March 3, 2010. The Registrar of Co-operative Societies, Maharashtra State has also bee
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માર્ચ 12, 2010Reserve Bank Cancels the Licence of the Rabkavi Urban Co-operative Bank Ltd., Rabkavi, KarnatakaIn view of the fact that the Rabkavi Urban Co-operative Bank Ltd., Rabkavi (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 March 09, 2010. The Registrar of Co-operative Societies, Karnataka has alsIn view of the fact that the Rabkavi Urban Co-operative Bank Ltd., Rabkavi (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 March 09, 2010. The Registrar of Co-operative Societies, Karnataka has als
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માર્ચ 12, 2010Reserve Bank Cancels the Licence of Annasaheb Patil Urban Co-operative Bank Ltd, Aurangabad (Maharashtra)In view of the fact that Annasaheb Patil Urban Co-operative Bank Ltd, Aurangabad, (Maharashtra) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra 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 before commencement of the business as on March 9, 2010 at 9.30 a.m a day after the close ofIn view of the fact that Annasaheb Patil Urban Co-operative Bank Ltd, Aurangabad, (Maharashtra) had ceased to be solvent, all efforts to revive it in close consultation with the Government of Maharashtra 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 before commencement of the business as on March 9, 2010 at 9.30 a.m a day after the close of
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ફેબ્રુ 25, 2010The Bank of Rajasthan Ltd. - PenalisedThe Reserve Bank of India has imposed a monetary penalty of Rs.25.00 lakh (Rupees Twenty Five Lakh only) on The Bank of Rajasthan Ltd. in exercise of powers vested in it under the provisions of Section 47A(1)(b) of the Banking Regulation Act, 1949. The penalty is levied for (i) violation of the Reserve Bank of India's directions issued under Section 35A of the Banking Regulation Act, 1949 in the area of acquisition of immovable properties, (ii) deletion of records inThe Reserve Bank of India has imposed a monetary penalty of Rs.25.00 lakh (Rupees Twenty Five Lakh only) on The Bank of Rajasthan Ltd. in exercise of powers vested in it under the provisions of Section 47A(1)(b) of the Banking Regulation Act, 1949. The penalty is levied for (i) violation of the Reserve Bank of India's directions issued under Section 35A of the Banking Regulation Act, 1949 in the area of acquisition of immovable properties, (ii) deletion of records in
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ફેબ્રુ 23, 2010Reserve Bank Cancels the Licence of Ichalkaranji Urban Co-operative Bank Ltd., Ichalkaranji, Kolhapur, MaharashtraIn view of the fact that Ichalkaranji Urban Co-operative Bank Ltd., Ichalkaranji, 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 after the close of business on February 11, 2010. The Registrar of Co-operative Societies, MaharaIn view of the fact that Ichalkaranji Urban Co-operative Bank Ltd., Ichalkaranji, 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 after the close of business on February 11, 2010. The Registrar of Co-operative Societies, Mahara
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ફેબ્રુ 16, 2010Reserve Bank Cancels the Licence of the Chadchan Shree Sangameshwar Urban Co-operative Bank Ltd., Chadchan, KarnatakaIn view of the fact that the Chadchan Shree Sangameshwar Urban Co-operative Bank Ltd., Chadchan (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 February 13, 2010. The Registrar of Co-operative SociIn view of the fact that the Chadchan Shree Sangameshwar Urban Co-operative Bank Ltd., Chadchan (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 February 13, 2010. The Registrar of Co-operative Soci
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ફેબ્રુ 10, 2010RBI Releases Draft Circular on Base Rate for BanksThe Reserve Bank of India today released on its website, Draft Circular on the Base Rate system for comments and feedback. Comments/feedback on the proposals contained in the draft circular may please be sent by February 17, 2010 by email or by fax to 022-22610430 or to the Adviser-in-Charge, Monetary Policy Department, Reserve Bank of India, Central Office Building, 24th Floor, S.B. Singh Marg, Mumbai-400001. It may be recalled that the Reserve Bank had constituted aThe Reserve Bank of India today released on its website, Draft Circular on the Base Rate system for comments and feedback. Comments/feedback on the proposals contained in the draft circular may please be sent by February 17, 2010 by email or by fax to 022-22610430 or to the Adviser-in-Charge, Monetary Policy Department, Reserve Bank of India, Central Office Building, 24th Floor, S.B. Singh Marg, Mumbai-400001. It may be recalled that the Reserve Bank had constituted a
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ફેબ્રુ 10, 2010Reserve Bank Rejects application for Licence of Rajwade Mandal Peoples' Co- operative Bank Ltd., Dhule, District Dhule, MaharashtraIn view of the fact that The Rajwade Mandal People's Co-operative Bank Ltd., Dhule, District Dhule, 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 of rejecting application for licence to the bank after the close of business on 27 January, 2010. The Registrar of Co-operatIn view of the fact that The Rajwade Mandal People's Co-operative Bank Ltd., Dhule, District Dhule, 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 of rejecting application for licence to the bank after the close of business on 27 January, 2010. The Registrar of Co-operat
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ફેબ્રુ 04, 2010Reserve Bank Cancels the Licence of the Raichur Zilla Mahila Pattana Sahakara Bank Niyamitha, Raichur, KarnatakaIn view of the fact that the Raichur Zilla Mahila Pattana Sahakara Bank Niyamitha, Raichur (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 January 29, 2010. The Registrar of Co-operative Societies,In view of the fact that the Raichur Zilla Mahila Pattana Sahakara Bank Niyamitha, Raichur (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 January 29, 2010. The Registrar of Co-operative Societies,
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જાન્યુ 11, 2010Reserve Bank Cancels the Licence of The Ahmedabad Peoples’ Co-operative Bank Ltd., Ahmedabad (Gujarat)In view of the fact that The Ahmedabad Peoples’ Co-operative Bank Ltd., Ahmedabad (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 January 08, 2010. The Registrar of Co-operative Societies, Gujarat has also beenIn view of the fact that The Ahmedabad Peoples’ Co-operative Bank Ltd., Ahmedabad (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 January 08, 2010. The Registrar of Co-operative Societies, Gujarat has also been
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જાન્યુ 11, 2010Reserve Bank Cancels the Licence of Shri Laxmi Sahakari Bank Ltd., Sangamnagar (Khed),Satara.In view of the fact that Shri Laxmi Sahakari Bank Ltd., Sangamnagar (Khed), Satara, (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 after the close of business on January 5, 2010. The Registrar of Co-operative Societies, Maharashtra StIn view of the fact that Shri Laxmi Sahakari Bank Ltd., Sangamnagar (Khed), Satara, (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 after the close of business on January 5, 2010. The Registrar of Co-operative Societies, Maharashtra St
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જાન્યુ 08, 2010Reserve Bank Cancels the Licence of Shree Sinnar Vyapari Sahakari Bank Ltd., Sinnar (Maharashtra)In view of the fact that Shree Sinnar Vyapari Sahakari Bank Ltd., Sinnar (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 after the close of business on December 31, 2009. The Registrar of Co-operative Societies, Maharashtra State hasIn view of the fact that Shree Sinnar Vyapari Sahakari Bank Ltd., Sinnar (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 after the close of business on December 31, 2009. The Registrar of Co-operative Societies, Maharashtra State has
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જાન્યુ 04, 2010Reserve Bank Cancels the Licence of The Cambay Hindu Merchants Co-operative Bank Ltd., Khambhat (Gujarat)In view of the fact that The Cambay Hindu Merchants Co-operative Bank Ltd., Khambhat (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 December 30, 2009. The Registrar of Co-operative Societies, Gujarat has also bIn view of the fact that The Cambay Hindu Merchants Co-operative Bank Ltd., Khambhat (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 December 30, 2009. The Registrar of Co-operative Societies, Gujarat has also b
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નવે 17, 2009RBI places Report of Working Group on Umbrella Organisation and Constitution of Revival Fund for Urban Cooperative Banks for commentsThe Reserve Bank of India has today placed on its website, the report of the Working Group on Umbrella Organisation and Constitution of Revival Fund for Urban Cooperative Banks (UCBs). The Working Group (Chairman: Shri V.S. Das, Executive Director) had been constituted in July 2008 to study the structure of umbrella organisations of financial cooperative institutions / banks, as prevalent in other parts of the world, to examine the need and scope for a federated strucThe Reserve Bank of India has today placed on its website, the report of the Working Group on Umbrella Organisation and Constitution of Revival Fund for Urban Cooperative Banks (UCBs). The Working Group (Chairman: Shri V.S. Das, Executive Director) had been constituted in July 2008 to study the structure of umbrella organisations of financial cooperative institutions / banks, as prevalent in other parts of the world, to examine the need and scope for a federated struc
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નવે 13, 2009Reserve Bank Cancels the Licence of Rajlaxmi Nagari Sahakari Bank Ltd., Dhule, District Dhule, MaharashtraIn view of the fact that Rajlaxmi Nagari Sahakari Bank Ltd., Dhule, District Dhule 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 after the close of business on October 27, 2009. The Registrar of Co-operative Societies, Maharashtra hasIn view of the fact that Rajlaxmi Nagari Sahakari Bank Ltd., Dhule, District Dhule 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 after the close of business on October 27, 2009. The Registrar of Co-operative Societies, Maharashtra has
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