Cooperative Banks

Coronavirus Outbreak: RBI bans banks, cooperatives from paying dividends

The Reserve Bank on Friday debarred all commercial and cooperative banks from paying dividends to shareholders and promoter groups as the regulator fears the Covid-driven economic shocks would continue longer and may put the health of the financial system at risk

Govt moves towards simplifying tax regime; LIC IPO will benefit retail investors: Nirmala Sitharaman

The finance minister said that taxpayers' charter is based on the idea that taxation regime should be on the foundation of trust among citizens.

PMC Bank fallout: Cabinet clears amendment to banking laws to strengthen cooperative banks; RBI nod to be made mandatory for appointments

The decision assumes significance in the wake of a scam in the PMC Bank affecting lakhs of customers who are facing difficulties in withdrawing their money due to restrictions imposed by the RBI.

Will discuss PMC Bank issue with PM Narendra Modi on 13 October, Devendra Fadnavis tells depositors

Fadnavis said he would be meeting Modi on 13 October, and he had already prepared a brief on the PMC Bank issue for the meeting.

Reserve Bank of India changes daily reporting system in cooperative banks after PMC Bank crisis

The RBI had put regulatory restrictions on PMC Bank after finding irregularities, and misreporting of loans given to real estate developer HDIL

PMC crisis shows depositors are sitting ducks if their bank goes bust; why shouldn’t savers get cover for full amount?

The deposit insurance guarantee scheme was set up in 1961 to ensure depositors are guaranteed at least some amount in the event of a bank collapse

PMC Bank crisis: RBI had recommended removal of chairman Waryam Singh in 2018, says report

According to the source, of the Rs 8,880-crore loan book (as of 19 September 2019) that PMC Bank had, more than Rs 6,500 crore or over 73 percent of the assets are with the bankrupt HDIL group only.

PMC crisis: Politicising cooperative banking mess is opportunism; RBI has to own up to its mistake of waking up too late

The PMC episode is only the symptom of a deeper malaise plaguing many other loosely regulated cooperative banks in the country.

Mudra loans: NPAs may have doubled in a year, but it is not a reason to worry yet

It would help if both the Mudra agency and the Ministry of Finance put out regular and detailed data regarding Mudra bad loans.

RBI governor Shaktikanta Das to meet private sector and cooperative banks next week

Shaktikanta Das took over as 25th Governor of RBI last week following the abrupt exit of Urjit Patel ahead of schedule due to differences with the government.