Shri Anand Co-operative Bank Limited, Chinchwad, Pune, Maharashtra

RBI cancelled the licence of Shri Anand Co-operative Bank Ltd., Chinchwad, Pune. The bank must stop banking business, and liquidation/winding-up proceedings are to be initiated.

The bank can no longer conduct banking business and must cease accepting or repaying deposits. Depositors will have their claims addressed through liquidation and DICGC insurance, subject to the statutory ceiling of ₹5,00,000 per depositor. RBI has also sought winding-up action and appointment of a liquidator.

• 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 extended the Section 35A/56 Directions on Shri Anand Co-operative Bank Limited until July 24, 2022. The original operating restrictions continue unchanged.

The bank remains subject to the existing RBI operating restrictions until July 24, 2022, unless further extended or modified. Customers and counterparties continue to face the same limitations previously imposed under the Directions, and the bank must comply with all unchanged conditions while under review.

• 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 Shri Anand Co-operative Bank Limited, Chinchwad, Pune, Maharashtra. The bank remains subject to the same unchanged restrictions until February 24, 2022, subject to review.

The bank remains under the same RBI-imposed operating restrictions until February 24, 2022, subject to review. Its business continues under the existing conditions, and the release explicitly warns that the extension should not be read as RBI satisfaction with the bank’s financial position. Depositors and other stakeholders remain affected by the ongoing restrictions.

• 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 Shri Anand Co-operative Bank Limited, Chinchwad, Pune, Maharashtra. The restrictions continue unchanged until November 24, 2021, subject to review.

The bank must continue to operate under the same RBI-imposed restrictions until November 24, 2021, subject to further review. Depositors, borrowers, and other counterparties remain subject to the operational constraints already in place; no relaxation is provided in this release.

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

RBI extended its Directions against Shri Anand Co-operative Bank Limited, Chinchwad, Pune, Maharashtra, keeping the existing restrictions in force until March 24, 2021. The terms of the earlier order remain unchanged.

Shri Anand Co-operative Bank Limited remains subject to the existing RBI Directions through March 24, 2021, with its operations continuing under the same restrictions and conditions as before. The bank, its customers, and counterparties remain affected by the ongoing regulatory constraints until RBI reviews or changes the order.

• 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