Shri Ganesh Sahakari Bank Limited, Nashik, Maharashtra

RBI imposed a ₹1 lakh monetary penalty on Shri Ganesh Sahakari Bank Limited, Nashik, for regulatory non-compliance. The lapses related to unclaimed deposits and KYC compliance.

The bank must absorb the monetary penalty and ensure future compliance with statutory provisions and RBI KYC directions. No direct operational restriction is imposed by this order, but RBI may initiate further action if similar deficiencies continue.

• Section 26A read with Section 56 of the Banking Regulation Act, 1949
• Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the BR Act

RBI withdrew the All Inclusive Directions on Shri Ganesh Sahakari Bank Ltd., Nashik, Maharashtra. The bank can continue regular banking business.

The bank is no longer subject to the earlier All Inclusive Directions and can resume regular banking operations. Depositors and customers are no longer constrained by the prior operating restrictions referenced in the withdrawn order, effective from close of business on March 26, 2019.

• sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949 (AACS)
• sub-section (2) of Section 35A of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies)

RBI extended the existing restrictions on Shri Ganesh Sahakari Bank Ltd., Nashik, for three more months. The bank can continue operating only subject to those directions.

The bank remains operational but under RBI-imposed restrictions through March 28, 2019. Customers and counterparties must continue dealing with the bank subject to the prevailing limitations, and the directions may be modified depending on circumstances.

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

RBI extended its existing restrictions on Shri Ganesh Sahakari Bank Ltd., Nashik for another three months, until December 29, 2018. The bank may continue banking operations only subject to these restrictions.

The bank remains operational but continues under RBI-imposed restrictions through December 29, 2018, subject to review and possible modification. Depositors and other stakeholders are affected by the ongoing operational constraints on the cooperative bank.

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