1. Key Details Action: Approval of Voluntary Amalgamation Amalgamating Bank: Lalbaug Co-operative Bank Ltd. (Vadodara, Gujarat) Amalgamated Bank: Akhand Anand Co-operative Bank Ltd. (Surat, Gujarat) Effective Date: March 23, 2026 Statutory Provision: Section 44A (4) read with Section 56 of the Banking Regulation Act, 1949 Operational Status: All branches of Lalbaug Co-op Bank will operate […]
Executive Summary The Reserve Bank of India (RBI) has exercised its powers under Section 35 A read with Section 56 of the Banking Regulation Act, 1949, to impose strict operational restrictions on three distinct cooperative banks across India. These directives come in response to the banks’ deteriorating financial liquidity and the management’s failure to address
1. Executive Summary The Reserve Bank of India (RBI) has issued a press release announcing the extension of regulatory directions imposed on The Amanath Co-operative Bank Ltd., Bangalore. Initially enforced under Section 35A read with Section 56 of the Banking Regulation Act, 1949, on June 12, 2024, the operational and financial restrictions have now been
Executive Summary Effective March 05, 2026, the Reserve Bank of India (RBI) has enforced the revived cancellation of the banking licence for Shimsha Sahakara Bank Niyamitha (Maddur, Mandya District, Karnataka). The bank is strictly prohibited from conducting any banking business, including accepting or repaying deposits, under Section 5(b) and Section 6 read with Section 56
Key Details Institution: New India Co-operative Bank Ltd., Mumbai Action: Excluded from the Second Schedule to the RBI Act, 1934 Notification: CO.DOR.RAUG.No.S7907/08.27.498/2025-26 (Jan 06, 2026) Context: Administrative closure following the August 2025 amalgamation with Saraswat Co-operative Bank Ltd. Root Cause Analysis (RCA) Internal Fraud: A ₹122 crore embezzlement scam executed by top management over five
Subject: Indian Mercantile Co-operative Bank Ltd., Lucknow Date of Order: February 11, 2026 | Effective Date: February 13, 2026 1. Executive Summary The Reserve Bank of India (RBI) has officially cancelled the banking licence of Indian Mercantile Co-operative Bank Ltd., Lucknow. This regulatory measure effectively prohibits the institution from carrying out any “banking” business, which
Executive Summary The Reserve Bank of India has cancelled the Certificate of Registration (CoR) of seven Non-Banking Financial Companies (NBFCs) based in Kolkata. This action was taken under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Following this cancellation, these companies are prohibited from transacting the business of a Non-Banking Financial Institution
1. Executive Summary The Reserve Bank of India (RBI) has cancelled the Certificate of Registration (CoR) of eight Non-Banking Financial Companies (NBFCs) following their voluntary surrender of the same. This action was executed under Section 45-IA (6) of the Reserve Bank of India Act, 1934. The cancellations are categorized into three distinct regulatory scenarios: voluntary
Executive Summary The Reserve Bank of India (RBI) has extended the period of Directions imposed on Sri Guru Raghavendra Sahakara Bank Niyamitha, Bengaluru for a further period of three months, valid until May 10, 2026. This extension highlights the regulator’s continued dissatisfaction with the bank’s financial position following the massive financial irregularities first uncovered in
Parameter Details Bank Name Sikar Urban Co-operative Bank Ltd, Sikar Regulatory Action Withdrawal of All-Inclusive Directions Original Direction Date October 26, 2018 (Effective Nov 09, 2018) Withdrawal Date February 04, 2026 (Close of Business) Authority Section 35A read with Section 56 of the Banking Regulation Act, 1949 1. Executive Summary The Reserve Bank of India
