Reserve Bank of India cancels licence of Vijayawada-based Durga Co-operative Urban Bank as the lender does not have adequate capital and earning prospects.
Aim is to provide more flexibility and avenues for UCBs to raise capital; will also help them to fund their transition to small finance banks, if they so desire.
RBI imposes several restrictions, including on withdrawals, on Konark Urban Co-operative Bank, Ulhasnagar, in the wake of the bank's deteriorating financial situation.
RBI imposes penalties on five co-operative banks amounting to total of Rs 60.3 lakh for violation of various regulatory norms.
RBI has reconstituted the Committee of Advisors of city-based Abhyudaya Cooperative Bank.
RBI cancels licence of Sumerpur Mercantile Urban Cooperative Bank, Pali as the lender does not have adequate capital and earning prospects.
RBI cancels licence of Jai Prakash Narayan Nagari Sahakari Bank Basmathnagar, Maharashtra, as the lender would be unable to pay its present depositors in full.
District Central Co-operative Banks can wind-up unremunerative branches without prior permission of RBI.
RBI penalises Annasaheb Magar Sahakari Bank, Janata Urban Co-operative Bank and The Jawhar Urban Co-operative Bank. The NBFC fined is Finquest Financial Solutions.
RBI allows certain urban co-operative banks to double lending limits for gold loans under bullet repayment scheme to Rs 4 lakh.
The four banks are Sarvodaya Sahakari Bank, Dhanera Mercantile Co-operative Bank, Janata Co-operative Bank and Maninagar Co-operative Bank.
RBI says Lucknow Urban Co-operative Bank does not have adequate capital and earning prospects; cancels licence.
Urban co-operative banks with high NPAs should improve governance standards, avoid related-party transactions and focus on credit risks, RBI Governor Shaktikanta Das said.
RBI cancels banking licence of Nashik Zilla Girna Sahakari Bank as the lender does not have adequate capital and earning prospects.
Kapol Co-operative Bank has been prohibited from conducting the business of banking with immediate effect; RBI says bank does not have adequate capital and earning prospects and its continuance is prejudicial to the interests of its depositors.
