COOPERATIVEBANKS
Moneylife Digital Team 29 November 2021
Depositors of 17 cooperative banks placed under the all-inclusive directions (AID) will receive up to Rs5 lakh from the deposit insurance & credit guarantee corporation (DICGC) from 29 November 2021 onwards.

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Moneylife Digital Team 30 July 2021
The Reserve Bank of India (RBI) has cancelled the license of Goa-based Madgaum Urban Cooperative Bank, with effect from 29 July 2021.

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Maya M 10 August 2020
On 30th July 2020, the Reserve Bank of India (RBI) extended its directions to the Vasantdada Nagari Sahakari Bank, the Kapol Cooperative Bank, and the Maratha Sahakari Bank. All three urban cooperative banks are from Maharashtra.

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The Reserve Bank of India has cancelled the banking licence of CKP Co-operative Bank, as its financial position has become unsustainable.

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Last week, I wrote about how the Reserve Bank of India’s (RBI’s) inspection reports, procured by Girish Mittal under the Right to Information (RTI) Act, had all but identified the fraud that led to PMC Bank’s (Punjab and Maharashtra Cooperative Bank) eventual failure way back in 2014-15; but RBI failed to dig deep or follow it up

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Moneylife Digital Team 14 October 2019
Seeking urgent action to safeguard depositors of cooperative banks that are witnessing frequent failures, Moneylife Foundation, a Mumbai-based non-profit consumer organisation (NGO), along with knowledgeable consumer activists, former bankers and trade unions have sent a Memorandum to Reserve Bank of India (RBI) governor Shaktikanta Das.

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The Special Operations Group of the state police has arrested eleven office-bearers of a cooperative society on charges of duping lakhs of investors of funds worth Rs 8,000 crore, said SOG Director General Bhupendra Singh Yadav on Saturday.

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When will the cycle of political interference and failed supervision by Reserve Bank end?

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Moneylife Digital Team 04 November 2015
Since 2010, the number and amount of multi-state cooperatives have increased 100 times and now become some kind of a shelter for illegitimate funds for Ponzi schemes, the Moily Committee said in its report calling for better regulation

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Narendra Modi continues with the poor governance of earlier regimes

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