Shivaji Rao Bhosale Sahakari Bank Ltd., Pune, Maharashtra

RBI cancelled the licence of Shivajirao Bhosale Sahakari Bank Ltd., Pune, Maharashtra. The bank must stop banking business, and liquidation proceedings will follow.

With immediate effect, the bank is prohibited from conducting banking business, including accepting and repaying deposits. Liquidation proceedings will begin, and depositor claims will be processed under the DICGC framework, subject to the statutory ceiling and applicable conditions. The release states that more than 98% of depositors are expected to receive full amounts from DICGC, with all depositors eligible up to Rs 5 lakh from deposit insurance.

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

+4 more in the case brief

RBI has extended the existing Directions on Shivaji Rao Bhosale Sahakari Bank Ltd., Pune, until June 04, 2021. The order leaves all other terms unchanged.

The bank remains subject to the same RBI Directions through June 04, 2021, subject to review. Its operations continue under the pre-existing restrictions, and depositors/customers remain affected by whatever operational limits were already in place under the original order.

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

RBI extended the Section 35A directions on Shivaji Rao Bhosale Sahakari Bank Ltd., Pune for three more months. The existing restrictions continue unchanged from December 05, 2020 to March 04, 2021.

The bank remains under the same operating restrictions during the extension period, with the existing Section 35A conditions continuing to govern its business. Depositors and customers continue to be affected by the unchanged restrictions until March 04, 2021 or further RBI review.

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

RBI extended the Section 35A directions on Shivaji Rao Bhosale Sahakari Bank Ltd., Pune, for another two months. The existing conditions continue unchanged.

The bank must continue operating under the existing RBI-imposed conditions through December 04, 2020, subject to review. The restrictions remain in force for the bank and its customers, and the order does not signal that the underlying financial concerns have been resolved.

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

RBI extended the existing Section 35A directions on Shivaji Rao Bhosale Sahakari Bank Ltd., Pune by two months. The original restrictions continue unchanged through October 04, 2020.

The bank remains subject to the same RBI-imposed operating restrictions until October 04, 2020, unless modified earlier on review. Customers and counterparties continue to be affected by the ongoing conditions attached to the bank's operations.

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

RBI extended the existing directions on Shivajirao Bhosale Sahakari Bank Ltd., Pune. The bank remains under the same operational restrictions until August 04, 2020, subject to review.

The bank continues to operate under RBI-imposed restrictions for the extended period, subject to further review. Depositors and customers remain affected by the ongoing directions until the stated date or any subsequent modification/withdrawal by RBI.

• 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 Shivajirao Bhosale Sahakari Bank Ltd., Pune until May 04, 2020. The bank remains subject to the same operational restrictions.

The bank must continue complying with the existing RBI directions through May 04, 2020, subject to review. Customers and counterparties remain affected by the operational restrictions already in force, and the bank cannot treat the extension as a relaxation of supervision or restrictions.

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

RBI placed Shivajirao Bhosale Sahakari Bank Ltd., Pune, under All-inclusive Directions. The bank faces tight limits on withdrawals and is barred from most lending, deposit-taking, and asset-liability activities without approval.

The bank must operate under RBI-imposed restrictions from the close of business on May 04, 2019. Depositors can withdraw only up to ₹1,000 per account subject to conditions, and the bank cannot expand liabilities, lend, invest, or dispose of assets except as allowed by RBI; any future modification depends on RBI review of the bank’s condition.

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