Cooperative Banks

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Cooperative Banks - Total results - 30
NABARD disburses Rs 12,767cr to state cooperative banks, RRBs for onlending to farmers; loans offered at interest rate of 4.8%
Business

NABARD disburses Rs 12,767cr to state cooperative banks, RRBs for onlending to farmers; loans offered at interest rate of 4.8%

NABARD said since the second half of March 2020, it has disbursed nearly Rs 30,021 crore to rural banks.

Coronavirus Outbreak: RBI bans banks, cooperatives from paying dividends
Business

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
Business

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
Business

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
Business

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
Business

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?
Business

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
Business

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
Business

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
Business

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
Business

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.

RBI to strengthen grievance redressal mechanism of banks by giving more autonomy to Internal Ombudsman
Business

RBI to strengthen grievance redressal mechanism of banks by giving more autonomy to Internal Ombudsman

With a view to strengthening the internal grievance redressal mechanism at banks, select banks were advised in May 2015 to appoint Internal Ombudsman as the apex authority

RBI to accept old notes from co-op banks: Why black money may be re-entering the system
Business

RBI to accept old notes from co-op banks: Why black money may be re-entering the system

Why is the Nabard’s and the I-T department’s assessments about the money that entered the cooperative banks contradictory?

Demonetisation: Shiv Sena claims credit as Centre allows cooperative banks to deposit old notes
India

Demonetisation: Shiv Sena claims credit as Centre allows cooperative banks to deposit old notes

The Shiv Sena on Wednesday claimed credit for the Union government's decision to allow the district central cooperative (DCC) banks among others to deposit demonetised currency with RBI by 20 July.

Demonetisation: Govt gives a month for cooperative banks, post offices to deposit old notes with RBI
Business

Demonetisation: Govt gives a month for cooperative banks, post offices to deposit old notes with RBI

Cooperative banks have also been allowed to exchange old currency notes with the RBI, if they had collected these notes by 14 November, the day RBI barred them from dealing in old notes

Govt bars co-op banks from accepting deposits under PMGKY
Business

Govt bars co-op banks from accepting deposits under PMGKY

The amendment to the notification comes after the I-T department spotted irregularities in deposits of cooperative banks following demonetisation

From NREGA to Nabard: Here's how govt can redistribute note ban proceeds to poor
Business

From NREGA to Nabard: Here's how govt can redistribute note ban proceeds to poor

It is unlikely that there could be a direct transfer of money to Jan Dhan accounts which is reported to have seen some misuses. The government would want to use indirect transfer mechanisms

Demonetisation: RBI has no data on scams in co-op banks during 8 Nov-10 Dec, finds RTI
Business

Demonetisation: RBI has no data on scams in co-op banks during 8 Nov-10 Dec, finds RTI

Prominent RTI activist Anil Galgali had sought information under the RTI on the extent of irregularities committed by state cooperative banks between 8 November and 10 December, 2016, and alleged corruption by officials