Dr Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd., Nilanga

RBI cancelled the licence of Dr. Shivajirao Patil Nilangekar Urban Co-operative Bank Limited, Nilanga, Maharashtra. The bank was also barred immediately from conducting banking business.

The bank cannot conduct any banking business, including taking deposits or repaying deposits, with immediate effect. Depositors are affected because the bank is being moved toward winding up and liquidation, and the effective cessation date stated in the release is the close of business on July 14, 2021.

• section 11(1)
• section 22(3)(d) read with section 56 of the Banking Regulation Act, 1949
• section 22(3)(a)

+5 more in the case brief

RBI extended its existing Section 35A directions on Dr. Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd. The bank will continue operating under withdrawal and deposit-acceptance restrictions until March 14, 2021.

The bank remains subject to RBI-imposed operational limits, including caps/restrictions on deposit withdrawals and deposit acceptance, through March 14, 2021 unless modified earlier. Depositors and customers are directly affected by the withdrawal ceiling and the bank’s constrained ability to accept deposits and operate normally.

• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (AACS)

RBI extended the Section 35A directions on Dr. Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd. for another two months. The bank remains subject to restrictions on withdrawal and acceptance of deposits.

The bank must continue operating under RBI-imposed limits through December 14, 2020 unless the directions are modified earlier. Depositors and customers remain affected by withdrawal and deposit-acceptance ceilings, and the bank’s normal business operations remain constrained pending RBI review and improvement in its financial position.

• sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS)

RBI extended its existing Section 35A directions on Dr. Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd., Nilanga. The bank remains under withdrawal and deposit acceptance restrictions until June 14, 2020, subject to review.

The bank must continue operating under RBI-imposed limits on withdrawals and deposit acceptance through June 14, 2020, unless the directions are modified earlier. Depositors are directly affected by the caps/ceilings, while the bank remains allowed to conduct business only within the restricted framework.

• Section 35 A of the Banking Regulation Act, 1949 (AACS)
• Section 56 of the Banking Regulation Act, 1949

RBI imposed a ₹1.8 lakh penalty on Dr Shivajirao Patil Nilangekar Urban Co-operative Bank Ltd., Nilanga, Maharashtra. The action was for multiple compliance and reporting lapses.

The bank must absorb the monetary penalty and address the cited compliance lapses going forward, especially around KYC, regulatory reporting, CIC membership, DEAF-related documentation, and XBRL submissions. The order does not impose an operational restriction, but it signals heightened regulatory scrutiny on the bank's compliance controls.

• Section 47A (1) (c) read with Section 46(4) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)