cooperative banks

There are 31 State Cooperative Banks, 370 District Central Cooperative Banks (DCCBs), 20 State Co-operative Agriculture and Rural Development Banks (SCARDBs) and 697 Primary Co-operative Agriculture and Rural Development Banks (PCARDBs) in the country. As per the information available with National Bank for Agriculture and Rural Development (NABARD) the amount of loss/profit made by Cooperative Banks in the country during 2008-09 and 2009-10 is as .. Full Article

The Reserve Bank has imposed penalties of Rs 9 lakh on three cooperative banks for violation of regulations and guidelines relating to anti-money laundering. Two of the banks, Ankola Urban Co-operative Bank and Kushtagi Pattana Sahakara Bank Niyanit, are based in Karnataka, while Salal Sarvoday Nagrik Sahakari Bank is a Gujarat-based lender, RBI said. Full Article

The Reserve Bank has imposed penalty of Rs 1 lakh each on two Gujarat-based cooperative sector lenders for violation of various rules, including anti-money laundering guidelines. The two banks are -- the Surat-headquartered Rander People's Co-operative Bank and Vadodara-based Shree Mahalaxmi Mercantile Co-operative Bank, the apex bank said yesterday. Full Article

Joint Registrar for Mumbai and Konkan Division started for Registration of Fresh Panel for the Period 01/04/2011 to 31/03/2014 for Co-Operative Societies Audit. Full Article

The Union Cabinet today gave its approval for the release of a sum of Rs.4,868 crore (subject to actuals) as interest subvention to Public Sector Banks (PSBs), Regional Rural Banks (RRBs) and Cooperative Banks and to NABARD for refinance to RRBs and Cooperative Banks at concessional rates to reimburse the amount of interest subvention to ensure that the farmer, in general, should receive short term crop loan at 7 percent per annum ( 5 percent for prompt payers) with an u.. Full Article

Accordingly, the instructions/guidelines contained in Master circular UBD.BL(PCB)MC.No.14/07.01.000/2009-10 dated July 1, 2009 and circular UBD.CO.LS.Cir.No.52/07.01.000/2009-10 dated June 16, 2008 have been reviewed and it has been decided that approvals for opening off site ATMs in respect of such UCBs will henceforth be considered outside Annual Business Plans, subject to: Full Article

UBD.BPD (PCB).Cir No.25/09.11.200/2009-10 Dated - December 3, 2009 The Government had in exercise of powers conferred by Section 35 of the Act issued (Removal of Difficulties) Order, 2008 dated January 24, 2008 extending the last date for taking membership of at least one credit information company by credit institutions to December 31, 2008. A copy of captioned Notification dated January 24, 2008 is enclosed for information and necessary action. Further extension of tim.. Full Article

Please refer to our circulars UBD.No.BPD.PCB.Cir9/09.11.200/2003-04 dated August 18, 2003 and UBD.PCB. Cir.No.42/09.11.200/2006-07 dated May 7, 2007 permitting Urban Cooperative Banks (UCBs) to undertake insurance business as corporate agent and/or on referral basis without risk participation subject to fulfilment of certain conditions. UCBs have been advised to sell insurance products to the bank’s customers with adequate disclosure and transparency and they should .. Full Article