Rupee Co-operative Bank Ltd, Pune, Maharashtra

RBI’s cancellation of Rupee Co-operative Bank Ltd.’s banking licence was upheld after the appeal was dismissed. A liquidator was then appointed to wind up the bank’s affairs.

The bank can no longer carry on banking business in India, and winding-up proceedings will continue under the liquidator appointed by the Maharashtra authorities. Customers, depositors, and counterparties are affected by the closure and liquidation process, subject to the applicable legal and recovery framework.

• Section 22 read with Section 56 of the Banking Regulation Act, 1949

RBI extended the existing Section 35A directions on Rupee Co-operative Bank Ltd., Pune, until November 22, 2022. The terms remained unchanged.

The bank continues to operate under the same RBI-imposed restrictions until November 22, 2022, unless revised earlier on review. Customers and counterparties remain subject to the conditions of the existing directions, with no change in the operational terms stated in the original order.

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

RBI extended the existing Section 35A directions on Rupee Co-operative Bank Ltd., Pune, Maharashtra until October 22, 2022. The release also notes the bank’s licence cancellation was suspended by the Bombay High Court.

The bank continues to operate under the same RBI-imposed restrictions for the extended period, with the directions remaining in force through October 22, 2022 unless reviewed earlier. Customers and counterparties remain subject to the operational limits embedded in those directions. The licence-cancellation note does not change the extension itself, but indicates ongoing litigation over the bank’s status.

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

RBI extended the existing Section 35A directions on Rupee Co-operative Bank Ltd., Pune, Maharashtra, up to September 22, 2022. The release also notes the bank’s licence cancellation and the resulting cessation of banking business from that date.

The bank remained under the same RBI operating conditions until September 22, 2022, while the separate licence cancellation meant it would stop carrying on banking business from that date. Depositors, customers, and counterparties were affected by the transition to winding up and liquidation, and the state cooperative authorities were expected to proceed with liquidation steps.

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

RBI cancelled the licence of Rupee Co-operative Bank Ltd, Pune. The bank will cease banking business from September 22, 2022.

From September 22, 2022, the bank is prohibited from conducting banking business, including accepting and repaying deposits. The matter moves toward winding up and liquidation, with DICGC deposit insurance claims available up to the statutory ceiling of ₹5 lakh per depositor, subject to applicable law.

• Section 11(1) of the Banking Regulation Act, 1949
• Section 22(3)(d) read with Section 56 of the Banking Regulation Act, 1949
• Sections 22(3)(a), 22(3)(b), 22(3)(c), 22(3)(d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949

+2 more in the case brief

RBI extended the existing Section 35A directions on Rupee Co-operative Bank Ltd., Pune, Maharashtra until August 31, 2022. The bank remains under the same restrictions, unchanged.

The bank continues to operate under the same RBI-imposed restrictions through August 31, 2022, subject to further review. Customers and counterparties remain affected by the continuing operational constraints, and the bank must comply with all existing conditions of the directions.

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

RBI extended the existing directions on Rupee Co-operative Bank Ltd., Pune, Maharashtra. The restrictions continue unchanged until May 31, 2022, subject to review.

The bank must continue operating under the existing RBI-imposed restrictions through May 31, 2022, unless the directions are revised earlier on review. The restrictions remain in force for the bank and affect its operations as previously set under the directive.

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

RBI extended the existing Section 35A directions on Rupee Co-operative Bank Ltd., Pune, until February 28, 2022. The original restrictions remained unchanged.

The bank remains subject to the same operational restrictions contained in the earlier Section 35A directions until February 28, 2022, subject to review. Depositors, customers, and counterparties continue to be affected by the existing limits and conditions until the directions are altered or withdrawn.

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

RBI extended its existing Section 35A directions on Rupee Co-operative Bank Ltd., Pune, through November 30, 2021. The earlier terms remain unchanged.

Rupee Co-operative Bank Ltd. continues to operate under the same RBI-imposed restrictions until November 30, 2021, unless revised earlier on review. The extension preserves the existing operational constraints affecting the bank and its customers, while not altering the underlying terms of the earlier directive.

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

RBI extended the existing Section 35A directions on Rupee Co-operative Bank Ltd., Pune, Maharashtra. The directions continue unchanged until August 31, 2021, subject to review.

The bank remains under RBI-imposed operating directions through August 31, 2021, so its activities continue to be constrained under the existing terms. Customers, depositors, and counterparties remain subject to the same restrictions and conditions already in force, unless and until RBI further modifies or withdraws the directions.

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

RBI extended the existing Section 35A directions on Rupee Co-operative Bank Ltd., Pune, Maharashtra until May 31, 2021. The earlier terms and conditions continue unchanged.

Rupee Co-operative Bank Ltd. remains subject to the same RBI restrictions until May 31, 2021, unless reviewed earlier. The bank must continue operating within the existing conditions imposed by the directions, and the public/depositors remain affected by those ongoing constraints.

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

RBI extended the existing Section 35A Directions on Rupee Co-operative Bank, Pune, Maharashtra. The restrictions remain in force unchanged until February 28, 2021.

Rupee Co-operative Bank remains subject to the same RBI operating restrictions through February 28, 2021, subject to further review. The bank must continue to operate within the existing constraints, and the public/depositors are affected only to the extent already prescribed by the unchanged Directions.

• Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the Banking Regulation Act, 1949
• sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies)

RBI extended the existing directions on Rupee Co-operative Bank Ltd., Pune, Maharashtra until November 30, 2020. The bank remains under the same operating restrictions subject to review.

The bank continues to operate under RBI-imposed directions through November 30, 2020, subject to further review. Any operational limitations embedded in the existing directive remain in force, affecting the bank and its customers until RBI revises or withdraws the order.

• Sub-section (1) of Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the said Act

RBI extended its existing Section 35A directions on Rupee Co-operative Bank, Pune, for three more months. The bank remains under the same operational conditions through August 31, 2020.

Rupee Co-operative Bank continues to operate under the pre-existing RBI restrictions for the extension period ending August 31, 2020. Any operational limits contained in the underlying directions remain in force, and the bank, its customers, and counterparties remain subject to those conditions until RBI reviews further extension or modification.

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

RBI extended its existing directions on Rupee Co-operative Bank Ltd., Pune, by three months. The bank remains under the same operating restrictions subject to review.

The bank continues to operate under the same RBI-imposed restrictions for the extended period, subject to review. Depositors and other stakeholders remain affected by the ongoing conditions attached to the bank's operations until the directions expire or are modified further.

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

RBI extended the existing Section 35A directions on Rupee Co-operative Bank Ltd., Pune, for three more months. The bank remained subject to the same restrictions, unchanged.

The bank continues to operate under the same RBI-imposed restrictions through February 29, 2020, subject to further review. Depositors and other stakeholders remain affected by the ongoing operating constraints until RBI changes or withdraws the directions.

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

RBI extended the existing Section 35A directions on Rupee Co-operative Bank Ltd., Pune for another three months. The earlier restrictions continue unchanged.

The bank remains subject to the same operating restrictions already in force under Section 35A. The extension keeps the restrictions active through November 30, 2019, affecting the bank’s operations and its customers until the next review or further directive.

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

RBI extended the existing Section 35A directions on Rupee Co-operative Bank, Pune, Maharashtra, through August 31, 2019. All earlier terms remain unchanged.

Rupee Co-operative Bank continues to operate under the same RBI-imposed restrictions until August 31, 2019, unless modified earlier on review. The bank, its customers, and other stakeholders remain subject to the operational constraints already contained in the underlying directions.

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

RBI extended the existing Section 35A directions on Rupee Co-operative Bank Ltd., Pune, for another three months up to May 31, 2019. The restrictions remain unchanged.

Rupee Co-operative Bank must continue operating under the same RBI-imposed restrictions through May 31, 2019, subject to review. The extension preserves existing limitations on the bank’s activities and affects its customers and counterparties to the extent those directions constrain normal operations.

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

RBI extended its existing Section 35A directions on Rupee Co-operative Bank Ltd., Pune for three more months. The bank remains allowed to operate only under restrictions.

Rupee Co-operative Bank Ltd. must continue operating under RBI-imposed restrictions through February 28, 2019, unless the directions are modified or withdrawn earlier. Depositors and other customers remain subject to the bank’s restricted operating conditions.

• Sub-section (1) of Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the said Act

RBI extended its existing directions on Rupee Co-operative Bank Ltd., Pune, for three more months. The bank will continue banking business only with restrictions.

Rupee Co-operative Bank Ltd. must continue operating under RBI-imposed restrictions through November 30, 2018 unless modified earlier by the regulator. Depositors, customers, and counterparties remain subject to the bank’s constrained operating conditions, but the bank is not being closed or its licence cancelled.

• Sub-section (1) of Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the said Act

RBI extended the existing directions on Rupee Co-operative Bank Ltd., Pune for another three months. The bank will keep operating under restrictions until 31 August 2018, subject to review.

The bank remains open but under RBI-imposed operational restrictions through 31 August 2018, subject to review. Depositors and counterparties must continue to deal with the bank within the limits set by the directions; RBI may modify the restrictions depending on circumstances.

• Sub-section (1) of Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the said Act

RBI extended its existing directions on Rupee Co-operative Bank Ltd., Pune, keeping the bank under operating restrictions until May 31, 2018, subject to review. The release clarifies that this is not a cancellation of banking licence.

Rupee Co-operative Bank Ltd. must continue operating under RBI-imposed restrictions through May 31, 2018, unless modified earlier by the regulator. The bank may conduct banking business only within those limits, and depositors/customers remain subject to the ongoing restrictions on the bank’s operations.

• Sub-section (1) of Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the said Act

RBI extended its Section 35A directions on Rupee Co-operative Bank Ltd., Pune for another six months. The bank remains allowed to operate only with restrictions.

The bank continues to function, but under RBI-imposed restrictions for the extension period ending August 21, 2017. Depositors and other stakeholders remain subject to the bank’s constrained operating conditions, and RBI may modify the directions depending on circumstances.

• Sub-section (1) of Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the said Act

RBI extended its directions on Rupee Co-operative Bank Ltd., Pune until February 21, 2017. The bank can continue operating, but only under restrictions.

Rupee Co-operative Bank Ltd. must continue operating under RBI-imposed restrictions through February 21, 2017, unless the directions are modified earlier. Depositors and customers remain affected by the operational limits attached to the directions, but the bank is not being shut down or stripped of its licence by this order.

• Sub-section (1) of Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the said Act

RBI extended its directions against Rupee Co-operative Bank Ltd., Pune, up to August 21, 2016. The bank remained subject to withdrawal limits on depositor accounts.

Rupee Co-operative Bank Ltd. must continue operating under RBI-imposed restrictions until August 21, 2016 unless further modified. Depositors face withdrawal caps and possible set-off of withdrawals against dues to the bank; the bank’s business remains constrained but not shut down.

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

RBI extended its Section 35A directions on Rupee Co-operative Bank Ltd., Pune for another six months. The bank remains allowed to operate only subject to restrictions.

Rupee Co-operative Bank must continue operating under RBI-imposed restrictions through February 21, 2016, unless modified earlier by the Reserve Bank. Customers and counterparties remain subject to the bank’s constrained operations, and the bank’s activities continue under supervisory review.

• Sub-section (1) of Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the said Act

RBI has extended the operating restrictions on Rupee Co-operative Bank Ltd., Pune for another three months. The bank can continue banking business, but only under the imposed directions.

The bank remains operational but continues under RBI-imposed restrictions through August 21, 2015 unless modified earlier. Depositors and other stakeholders remain subject to the constraints of the directions, and the bank may face continued limits on normal business until RBI reviews its financial condition and decides whether to modify the order.

• Sub-section (1) of Section 35 A of the Banking Regulation Act, 1949
• Section 56 of the said Act

RBI extended its existing directions on Rupee Co-operative Bank Ltd., Pune for six more months. The bank continues to operate under significant restrictions on lending, deposits, liabilities and asset disposal.

The bank must continue operating under RBI-imposed restrictions until May 21, 2015, subject to review. Customers face limits on withdrawals and the bank cannot expand lending, raise fresh deposits freely, or undertake several asset/liability actions without RBI approval.

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

RBI extended the existing Section 35A restrictions on Rupee Co-operative Bank Ltd., Pune, for another three months. The bank will continue business only under the same conditions.

The bank remains subject to the same operating restrictions for the extended period and must continue complying with the Section 35A directions until November 21, 2014 or until RBI further modifies them. Depositors and counterparties are affected indirectly because the bank’s ordinary business continues under restricted conditions.

• Section 35A of the Banking Regulation Act, 1949

RBI extended the Section 35A restrictions on Rupee Co-operative Bank Ltd., Pune, for six more months. The bank can continue business only with the same restrictions in place.

Rupee Co-operative Bank Ltd. remains under RBI-imposed operating restrictions for the extension period, so its business activities continue to be constrained. Depositors and customers should expect the bank to operate only within the same limitations already in force, subject to further review and possible modification by RBI.

• Section 35A of the Banking Regulation Act, 1949

RBI extended the existing restrictions on Rupee Co-operative Bank Ltd. for another six months. The bank may continue operating, but only subject to the same unchanged conditions.

Rupee Co-operative Bank Ltd. remains subject to the same RBI-imposed operating restrictions through February 21, 2014. Depositors and counterparties continue to face a constrained bank, and the bank must operate within the unchanged conditions until RBI modifies or withdraws the directions.

RBI placed Rupee Co-operative Bank, Pune, under Directions and capped withdrawals at Rs 1,000 per account. The bank was also barred from fresh lending, accepting deposits, and several other activities without RBI approval.

The bank must operate under RBI-imposed conditions and cannot expand normal banking activity without approval. Depositors are subject to a withdrawal cap of Rs 1,000 per account, and the bank cannot raise fresh funds, lend, or dispose of assets freely until the Directions are modified or lifted by RBI. The restrictions took effect from close of business on February 22, 2013.

• Section 35A(1) of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) read with Section 56 of the Banking Regulation Act, 1949

RBI imposed a Rs 5 lakh penalty on Rupee Co-operative Bank Ltd., Pune, for breaching RBI instructions on cheque discounting and land-purchase loans.

The bank must pay the monetary penalty; the release does not describe any additional operational restriction or ongoing prohibition. The action serves as a compliance censure for past violations involving lending-related norms and cheque discounting limits.

• Section 47(A)(1)(b)
• Section 46(4) of the Banking Regulation Act, 1949 (AACS)