Page 2 - Cooperative Banks

Regulator shouldn't view co-op banks with suspicion, says Amit Shah

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

RBI doesn't have favourable view towards cooperative banks: Sharad Pawar

NCP chief Sharad Pawar said the view of the Reserve Bank was not favourable towards urban cooperative banks which fulfil the needs of the common people and asked the Centre to act accordingly

Reserve Bank of India imposes penalties on three cooperative banks

The Reserve Bank of India (RBI) on Monday imposed penalties totalling Rs 5 lakh on three cooperative banks for various non compliances. A penalty of Rs 2 lakh has been imposed on The Yashwant Cooperative Bank Limited, Phaltan for contravention of non-compliance with directions issued by it on Income Recognition, Asset Classification, Provisioning and Other Related Matters UCBs, the RBI said in a statement. In another statement, the central bank said a penalty of Rs 2 lakh has been imposed on Kokan Mercantile Co-operative Bank Ltd., Mumbai for similar non-compliance. The RBI has also imposed a penalty of Rs 1 lakh on the Samata Cooperative Development Bank Limited, Kolkata, for contravention of directions issued by it on 'Exposure Norms & Statutory/Other Restrictions-UCBs', the RBI said in a separate filing. In all the cases, the RBI said the penalities are based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or ...

RBI imposes penalty on 3 co-op banks for lapses in regulatory compliance

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

PMC depositors move SC against final merger plan with Unity SFB

Among other haircut terms, depositors have to wait for 10 years to get back their money if the amount is more than Rs 15 lakh

Reserve Bank of India imposes penalties on 8 cooperative banks

The RBI said penalties have been imposed for deficiencies in regulatory compliances

Budget 2022: Cooperatives seek level playing field with commercial banks

Parity with commercial banks sought in tax treatment, and for deposits, loan products

'How did scams happen in cooperative banks': Shah takes veiled dig at MVA

Taking a veiled dig at Maha Vikas Aghadi government, Shah on Saturday raised questions over the alleged scams involving crores of money in cooperative banks of Maharashtra

Maha: FIR against cooperative bank chairman, others for Rs 229 cr fraud

A few months ago, the board of directors of this bank had been dismissed and an administrator appointed.

Depositors of 21 stressed cooperative banks to get Rs 5 lakh by November

The DICGC in a statement said only those depositors who have submitted their willingness to the insured banks would get money

DICGC asks 21 stressed cooperative banks to prepare list of account holders

DICGC has also asked the banks to circulate consent form to account holders for accessing funds up to Rs 5 lakh as per the amended law within 90 days.

DICGC to pay upto Rs 5 lakh to depositors of 21 insured co-op banks

The banks include include Punjab & Maharashtra Co-Op Bank (PBC Bank) and City Co-operative Bank

Nabard chief stresses on strengthening IT infra of cooperative banks

Strengthening of IT infra of cooperative banks, enhancement of agriculture term loans and diversification of credit portfolio are important factors to make them sustainable on a long term basis

RBI penalises 2 co-op banks for deficiencies in regulatory compliance

The Reserve Bank of India (RBI) on Wednesday said it has imposed penalties on two cooperative banks for deficiencies in certain regulatory compliance.

Co-operative body 'unhappy' over SC verdict upholding supremacy of states

Wants National Policy on Cooperatives, which will ensure uniformity in acts across states

PMC Bank gets some cooperative support, but revival to take time

The takeover of this bankrupt urban cooperative bank by the Centrum-BharatPe combine marks the first instance of NBFCs, high-net worth individuals and fintechs being allowed entry in this space

RBI unveils risk-based audit guidelines for select NBFCs, urban co-op banks

Currently, all the entities supervised by the RBI have their own approaches on internal audit, resulting in certain inconsistencies, risks and gaps in the system

RBI curbs withdrawals from Jalna-based Mantha Urban Coop Bank for 6 months

The RBI, in a release, said it has issued certain directions to Mantha Urban Cooperative Bank, Mantha District Jalna, Maharashtra, from the close of business on November 17, 2020

PMC Bank trying to use the escape hatch used by tiny cooperative banks

But with a deposit base of more than Rs 11,600 crore, PMC is not a small cooperative bank and has therefore attracted public attention

RBI appoints new administrator of PMC Bank; no revival plan for bank as yet

The present administrator, JB Bhoria, stepped down from his role as the administrator of the bank due to health reasons