Page 6 - Cooperative Banks

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

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