RBI takes action due to bank’s poor financial health and governance standards; business restrictions also imposed on Sadbhav Nagrik Sahakari Bank and Samarth Urban Co-operative Bank.
RBI said Jijamata Mahila Sahakari Bank, Satara does not have adequate capital and earning prospects; in present financial position it would be unable to pay its depositors in full.
Urban co-operative banks had mushroomed in 1990s; weak financial health led RBI to pause issuance of licences since 2004.
Karnataka-based Karwar Urban Co-operative Bank ceases to carry on banking business; licence cancelled as bank lacks adequate capital and earning prospects.
India’s largest urban co-operative bank has proposed to merge New India Cooperative Bank with itself; approaches RBI for clearance.
RBI cancels licence of Ajantha Urban Co-operative Bank Maryadit, Aurangabad, as the lender does not have adequate capital and earning prospects.
Barely two weeks after New India Co-op Bank's fall, RBI revises norms for urban co-op banks relating to small-value loans and real estate exposure limits.
Almost two weeks after imposing business restrictions on New India Co-operative Bank, RBI permits the lender’s depositors to withdraw up to Rs 25,000 from 27 February.
Customers panic and queue up outside the bank's branches to withdraw money from their accounts; RBI appoints Shreekant, former CGM of SBI, as ‘Administrator’ to oversee operations.
RBI imposes restrictions on New India Co-operative Bank, including on withdrawal of funds by depositors and issuing of new loans, amid supervisory concerns; prohibitions to remain in force for six months and is subject to review.
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.
