Co-operative Bank

Over 200 employees risk losing their jobs

Here is a look at the RBI actions on co-op banks in 2022 so far.

Penalty has been imposed on Mehsana Urban Co-operative Bank for non-compliance with certain provisions of the Reserve Bank of India (Co-operative Banks - Interest Rate on Deposits) Directions, 2016.

Central government working to set up a national-level cooperative university

Karnataka lender doesn't have adequate capital or earning prospects, says RBI in statement.

The Reserve Bank of India has imposed a penalty on three cooperative banks, including Nagrik Sahakari Bank Maryadit, Raipur, Chhattisgarh, for deficiencies in regulatory compliances

The Reserve Bank of India (RBI) on Monday said it has imposed penalties on three co-operative banks totalling Rs 5 lakh for deficiencies in regulatory compliance.

As per the directions issued first on May 10, 2019, withdrawals were capped at Rs 1,000 from any account. The directions have been periodically extended till now.

The RBI on Monday cautioned the public against co-operative societies using 'bank' in their names as well as accepting deposits from people who are not their members.

The Reserve Bank of India (RBI) on Thursday said it has imposed penalties on two co-operative banks and a non-banking financial company (NBFC), for deficiencies in certain regulatory compliance.

Even though a fifth of these cooperatives are in the financial sector, their share has remained low

The UCBs, it said, could raise share capital by issue of equity to persons within their area of operation enrolled as members and also through additional equity shares to the existing members.

The RBI said the lenders can hire experts, including former employees, on a contractual basis subject to certain conditions

The RBI has imposed penalty totalling Rs 11 lakh on Bijnor Urban Co-operative Bank Limited, Bijnor and National Urban Co-operative Bank Limited, New Delhi for contravention of certain norms

This is subject to various conditions, including that a proposal should be made by the state government concerned.

The Reserve Bank on Friday said it has barred Karnataka-based Deccan Urban Co-operative Bank Ltd from granting fresh loans or accepting deposits

The RBI has constituted an expert committee under the chairmanship of its former Deputy Governor N S Vishwanathan

Earlier this year, the government amended the Banking Regulation Act to give the RBI complete regulatory and supervisory power over such lenders

In both cases, the penalty has been imposed based on deficiencies in regulatory compliance

The committee's report under consideration of Adityanath government