Page 3 - Cooperative Banks

24 directors of Ghaziabad bank booked for embezzling around Rs 100 crore

Twenty-four directors of Ghaziabad's now defunct Mahamedha Cooperative Bank have been booked for allegedly misappropriating around Rs 100 crore, according to an FIR lodged here.

LS passes legislation to bring cooperative banks under RBI's supervision

In a bid to protect the interest of depositors, the Lok Sabha on Wednesday passed an amendment to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI

RBI slaps Rs 10 lakh fine on 4 cooperative banks for violating norms

The RBI on Thursday said it has imposed a total penalty of Rs 10 lakh on four cooperative banks for deficiencies in regulatory compliance.

Centre may allow cooperative banks to lend under Emergency Credit Line

Gadkari also said that the government aims to increase MSMEs' contribution to the GDP to 50 per cent and in share of exports to 60 per cent

President promulgates ordinance to bring co-operative banks under RBI

The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws

Govt okays Ordinance to give more teeth to RBI over co-operative banks

The RBI will get more auditory and managerial powers over 1,482 urban co-operative banks and 58 multi-state co-operative banks after the Ordinance is approved by the President

Top headlines: Co-op banks to be supervised by RBI, Covid-19 medicine, more

Business Standard brings to you a snapshot of events which made it to the headlines today

Cooperative banks to be supervised by RBI; govt to bring an ordinance

All govt banks, including urban and multi-state cooperative banks will be brought under the supervisory powers of the RBI

RBI bars People's Co-operative Bank from granting loans, accepting deposits

The central bank has also barred the co-operative bank from selling, transferring or disposing any of its properties or assets for next 6 months

It may be time to change the way UCBs and NBFCs raise retail deposits

It may be time to link the higher deposit insurance cover and the way co-operative banks and select non-banks raise retail resources, writes Raghu Mohan

Gujarat extends interest subsidy, loan for small traders, street vendors

Under the Atmanirbhar Gujarat Sahay Yojana scheme, the loan will be available via written application at co-operative banks, district banks and credit co-operative societies

We help banks stay on the grid: Sarvatra Technologies' Mandar Agashe

Fifty-five per cent of the banks are on our platform. Even Google Pay and Truecaller Pay are on it. As for competition, you have C-Edge, and Infrasoft, says Agashe

Financing business revival without pain

Here is the design of an impactful, fiscally responsible programme that removes the bottlenecks in credit decision-making

More than 90% CKP Co-op Bank depositors to get back money, says RBI

The RBI cancelled the licence of CKP Co-op Bank on April 28, and notified the cancelletaion on its website on Saturday. There it also said that deposits up to Rs 5 lakh are guaranteed by the DICGC

RBI cancels CKP Co-op Bank's licence on adverse financial position

Depositors to get up to Rs 5 lakh under deposit insurance on liquidation

Nabard to review fundings of Regional Rural Banks, co-op banks on April 20

To tap RBI refinance window for funding to RRBs etc

FM Sitharaman introduces bill that aims to prevent a PMC Bank-like crisis

The Banking Regulation (Amendment) Bill, 2020, which comes in the backdrop of PMC Bank scam, seeks to strengthen co-operative banks by increasing professionalism and ensuring sound banking through RBI

Bill to avert PMC Bank-like crisis may get Parliament nod in Budget session

In a bid to address weaknesses in cooperative banking sector, the Parliament is likely to clear a Bill to amend Banking Regulation Act to bring multi-state cooperative banks under effective regulation of RBI during the Budget session. The proposed legislation will help prevent a repeat of Punjab and Maharashtra Cooperative Bank-like crisis, sources said. There are 1,540 cooperative banks with a depositor base of 8.60 crore having total savings of about Rs 5 lakh crore. The Union Cabinet headed by Prime Minister Narendra Modi last month gave approval to amend Banking Regulation Act. The Bill in this regard is likely to be passed during the second leg of Budget session starting Monday. The session ends on April 3. Having undertaken a slew of measures, including clean up of public sector banks (PSBs), private sector banks, financial institution like IL&FS, non-bank financial corporations (NBFCs), housing finance corporations (HFCs), auditors, rating agencies, this is the last step in

RBI considers extending bank-like vigil on NBFCs, cooperative banks

These entities will have to reveal divergence in provisioning during auditing

What happens when a co-op bank comes under banking act?

The only conversion to date of an urban co-operative bank into a commercial bank is DCB Bank in 1996, which was however not a forced one