The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees One lakh only) on Kaujalgi Urban Cooperative Credit Bank Ltd., Koujalgi, Karnataka, in exercise of the powers vested in it under the provisions of Section 47 A (1) (b) read with Section 46 (4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) for violating Reserve Bank of India’s instructions/guidelines in respect of ‘The Depositor Education and Awareness Fund S

The Reserve Bank of India has imposed a monetary penalty of ₹ 4.00 lakh (Rupees Four lakh only) on Progressive Co-operative Bank Ltd., Mumbai in exercise of the powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of instructions/guidelines issued by the Reserve Bank of India relating to lending to nominal members, financing an NBFC and KYC nor

The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one Lakh only) on Sahebrao Deshmukh Co-operative Bank Ltd., Mumbai in exercise of the powers vested in it under the provisions of Section 47A(1) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of instructions/guidelines issued by the Reserve Bank of India relating to opening of on-site ATM. The Reserve Bank of India had i

The Reserve Bank of India vide directive dated February 16, 2017 has extended directions issued to Rupee Co-operative Bank Ltd., Pune, Maharashtra for a further period of six months from February 22, 2017 to August 21, 2017 subject to review. The directions were originally imposed from February 22, 2013 to August 21, 2013 and were extended on six occasions for a period of six months each and twice for a period of three months each. The last extension was for a period

The Reserve Bank of India has imposed a monetary penalty of ₹ 2.00 lakh (Rupees Two Lakh only) on Janata Urban Co-operative Bank Ltd., Wai, District Satara in exercise of the powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of the instructions / guidelines of the Reserve Bank of India. During the financial year 2013-14 the bank’s credit exp

It is hereby notified for information of the public that the Reserve Bank of India has cancelled the licence of The Sojitra Co-operative Bank Ltd., Dist. Anand (Gujarat) vide order dated January 23, 2017. In view of the unsatisfactory financials and compliance record, the bank was advised to go out of purview of the Banking Regulation Act, 1949 (AACS) and convert into a Co-operative Society. The bank has fulfilled all the conditions stipulated in Section 36(A)(2) of t

The Reserve Bank of India has imposed a monetary penalty of ₹ 1.00 lakh (Rupees one lakh only) on The Catholic Co-operative Urban Bank Ltd., Hyderabad, Telangana, in exercise of the powers vested in it under the provisions of Section 47A (1) (b) read with Section 46 (4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies), for violation of Reserve Bank of India directives and guidelines on loans and advances to directors and their relatives. T

Lokseva Sahakari Bank Ltd., Pune, Maharashtra, was placed under directions vide directive dated May 19, 2014 from the close of business on May 20, 2014. The validity of the directions were extended from time to time vide subsequent directives last being vide order dated November 11, 2016 and is valid upto May 19, 2017 subject to review. The public is hereby advised that the Directive so issued to Lokseva Sahakari Bank Ltd., Pune on May 19, 2014 as modified from time t

It is hereby notified for information of the public that the Reserve Bank of India has cancelled the licence of The State Transport Employees Co-operative Bank Ltd., Ahmedabad (Gujarat) vide order dated January 13, 2017. Accordingly, the bank has ceased to be a “Co-operative bank” as defined in Section 5 (cci) of the Banking Regulation Act, 1949 read with Section 56 of the Act and all the provisions of the said Act applicable to the said co-operative bank shall cease

The Reserve Bank of India (RBI) has cancelled the licence of Shri Chhatrapati Urban Co-operative Bank Ltd., Pimple Nilakh, Pune, Maharashtra. The order was made effective from the close of business on February 07, 2017.The Registrar of Co-operative Societies, Maharashtra, has also been requested to issue an order for winding up of the bank and appoint a liquidator. The Reserve Bank cancelled the licence of the bank as: The bank did not comply with the provisions under

The R S Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions vide directive dated June 24, 2015, from close of business on June 26, 2015. The validity of the directions was extended from time to time vide subsequent directives the last being order dated September 22, 2016 and is currently valid upto March 25, 2017, subject to review. The public is hereby advised that the Directives so issued to R S Co-operative Bank Ltd., Mumbai, Maharashtra on June

The CKP Co-operative Bank Ltd, Mumbai, Maharashtra, was placed under directions vide directive dated April 30, 2014, from close of business on May 2, 2014. The validity of the directions were extended from time to time vide subsequent directives last being order dated July 28, 2016 and was valid upto January 31, 2017 subject to review. It is hereby notified for the information of the public that the validity of the aforesaid directions has been further extended for a

The Reserve Bank of India has extended Directions issued to the Hardoi Urban Co-operative Bank Ltd., Hardoi for a further period of six months from January 30, 2017 to July 29, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 29, 2016. The same has further been extended upto July 29, 2017 vide directive dated January 23, 2017. A copy of the directive dated January 23, 2017 is dis

The Reserve Bank of India has extended Directions issued to the Mahamedha Urban Co-operative Ltd., Ghaziabad for a further period of six months from January 30, 2017 to July 29, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 29, 2016. The same has further been extended upto July 29, 2017 vide directive dated January 23, 2017. A copy of the directive dated January 23, 2017 is di

The Reserve Bank of India has imposed a monetary penalty of ₹ 75.00 lakh (Rupees Seventy Five Lakh only) on Bombay Mercantile Co-operative Bank Ltd., Mumbai in exercise of the powers vested in it under the provisions of Section 47A(1) read with Section 46(4) of the Banking Regulation Act., 1949 (As Applicable to Co-operative Societies), for violations of Know Your Customer/Anti-Money Laundering (KYC/AML) directives issued by RBI. The Reserve Bank of India had issued a

The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of six months from January 07, 2017 to July 06, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto January 06, 2017. The same has further been extended upto July 06, 20

The Reserve Bank of India has extended directions issued to The Suri Friends’ Union Co-operative Bank Ltd., Suri, West Bengal, for a further period of six months with partial modifications namely: (i) A sum not exceeding ₹ 50,000/- may be allowed to be withdrawn by depositor, provided that wherever such depositor is having liability to the bank in any manner, i.e. either as a borrower or surety, including loans against the bank deposits, the amount may be adjusted fir

The Reserve Bank of India has imposed a monetary penalty of ₹ 30 million on Lakshmi Vilas Bank Ltd. (LVB) for contravention of instructions relating to opening and operation of current accounts, extending bill discounting facilities to non-constituents and walk-in customers and non-adherence to KYC norms. This penalty has been imposed in exercise of powers vested in the Reserve Bank under the provisions of Section 47(A)(1)(c) read with Section 46(4)(i) of the Banking

The Reserve Bank of India has extended Directions issued to the Brahmawart Commercial Co-operative Bank Ltd., Kanpur for a further period of six months from January 07, 2017 to July 06, 2017, subject to review. The bank has been under directions issued under Section 35A of the Banking Regulation Act, 1949 (AACS) since July 07, 2015. The aforesaid directive was modified and its validity extended upto January 06, 2017. The same has further been extended upto July 06, 20

It is hereby notified for information of public that the Reserve Bank of India is satisfied that in the public interest, it is necessary to extend the period of operation of the directive dated April 1,2013 read with subsequent directives, last being dated June 29,2016 issued to the Amanath Cooperative Bank Ltd, Bengaluru for a further period of six months. Accordingly, the Reserve Bank of India, in exercise of powers vested in it under sub section (1) of Section 35A