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Urban cooperative banks misused for money laundering

Last Updated: Wednesday, October 30, 2013, 13:49

Urban Cooperative Banks (UCBs), which hold deposits of over Rs two lakh crore, are being misused for money laundering causing alarm to the government.

UCBs with deposits of over Rs 750cr can be a scheduled bank

Last Updated: Friday, September 27, 2013, 20:58

The Reserve Bank today allowed urban cooperative banks (UCBs) with total deposits of over Rs 750 crore to graduate to scheduled bank category.

13 cooperative banks go belly up in 2012-13

Last Updated: Monday, May 27, 2013, 17:42

As many as 13 cooperative banks failed in 2012-13, resulting in credit insurance company DICGC paying nearly Rs 160 crore to depositors.

Cooperative banks should be kept away from political pressure: SC

Last Updated: Sunday, May 19, 2013, 14:52

The Supreme Court has passed a slew of directions to give more power to Cooperative Banks' Board and to reduce political interference in its functioning, holding that their Registrar should be subjected to disciplinary proceedings if he acts under political influence.

Coop Banks to reschedule the crop loan to farmers

Last Updated: Monday, May 13, 2013, 17:54

Crop loans availed by farmers from district central cooperative banks would be rescheduled as per the government's decision in view of severe drought conditions prevailing in the state, a bank official said Monday.

RBI revises criteria for declaring dividend by UCBs

Last Updated: Thursday, July 05, 2012, 22:22

RBI on Thursday said urban cooperative banks (UCBs) which have less than five percent of NPAs and comply with Capital to Risk-Weighted Assets Ratio norms may declare dividends without its prior permission.

Claim deposit insurance by Mar 2013: RBI

Last Updated: Tuesday, May 15, 2012, 22:06

Holders of two joint accounts in cooperative banks that failed before April 2007 have been given time till the end of this financial year to claim deposit insurance from DICGC, a subsidiary of RBI.

Verify IT Returns before opening businessmen A/Cs: RBI

Last Updated: Friday, May 11, 2012, 19:37

In a bid to check frauds, the Reserve Bank on Friday asked the Urban Cooperative Banks (UCBs) to verify Income Tax returns and other documents before opening bank accounts of businessmen as part of the KYC exercise.

Verify IT Returns before opening businessmen A/Cs: RBI

Last Updated: Friday, May 11, 2012, 19:37

In a bid to check frauds, the Reserve Bank on Friday asked the Urban Cooperative Banks (UCBs) to verify Income Tax returns and other documents before opening bank accounts of businessmen as part of the KYC exercise.

RBI to issue fresh guidelines for UCBs in June: Govt

Last Updated: Friday, May 04, 2012, 19:25

The Reserve Bank will issue fresh guidelines for urban cooperative banks (UCBs) in June, 2012, Parliament was informed on Friday.

Nabard posts record performance in Maha in 2011-12

Last Updated: Saturday, April 28, 2012, 10:37

The National Bank for Agriculture and Rural Development (NABARD) extended a record support of Rs 6,023.18 crore for agriculture and rural development in Maharashtra during 2011-12, up 71 percent from Rs 3,532.49 in the previous year.

Capital requirements for co-ops to jump manifold: RBI

Last Updated: Thursday, March 22, 2012, 19:37

The Reserve Bank Thursday said the minimum capital requirements for cooperative banks will soon go up to as much as Rs 3 crore from the present Rs 15 lakh.